Land Bank: Pause transactions to audit the transactions liquidity available to us

2016/08/08 17:21

Long-Presse / Baghdad

Real Estate Bank announced on Monday suspended loan transactions on a temporary basis until full are audited transactions, while pointing to the availability of cash in the bank, confirmed that the bank has more than 10 thousand treated yet.

He said the Land Bank director Khudair Abbas, in an interview with (long-Presse), "The bank will not start to receive any treatment starting from today's date until the audit of transactions for applicants, where he was to accept the 10080 treated so far," pointing out that "this ban temporarily."

Abbas added, "We need a period of scrutiny and the provision of adequate liquidity and make sure of booking and construction operations", noting that "the money is there and to reassure citizens in this regard."

Land Bank director said that "spread over fifteen province of loans and will be concluded to the resumption of transaction if complete audit transactions," noting that "the bank has 830 billion new dinars will lead its obligations towards the citizens."

A source in the Real Estate Bank revealed, on Sunday, that the Bank's management decided to suspend the granting of loans to citizens transactions until further notice, while attributing the cause to "lack of liquidity".

The mortgage bank in the announced (19 July 2016), that there are mechanisms adopted by the bank for the disbursement of the loan for citizens up to 50 million dinars, and among the interest on the loan amounting to 3% and the duration of up to 10 years without a sponsor and vacation building, he stressed convert any employees paid bribes of citizens to justice and the abolition of the treatment of the loan in full.

Real Estate Bank of Iraq is a State-owned banks, was founded in Baghdad in 1948, and has a number of branches in the capital and the provinces, and the Real Estate Bank role in the task of the advancement of civilization and urbanization of the country and solving the housing crisis, it is the only party responsible for the support of the citizens and their lending to the construction of their own residential role of soft interest and achieve a stable policy in stimulating the physical movement in the country.