Real Estate Bank unveils new instructions to loans and asserts: presentation exceeded the credit plan

2016/08/22 17:05

Long-Presse / Baghdad

Revealed the real estate management of the bank, on Monday, for new instructions to ensure the implementation of their obligations seriously borrowers, as indicated received more than ten thousand demand for loans, it confirmed that the presentation exceeded the credit plan that has been prepared.

He said in the Land Bank director Khudair Abbas, in an interview with (long-Presse) that "the Council of Ministers issued several instructions on lending to citizens in order to increase guarantees to ensure the seriousness of the borrower's implementation of its commitments," noting that "the bank received ten thousand and one hundred request for a loan," noting that "these requests need to twenty thousand process of detecting and 50,000-hour scrutiny requires considerable time to complete the transaction and after the resumption of the loan will be."

Abbas said "the bank said adding two conditions are vacation construction and guarantor for the loan because of the large number of applicants and to increase the filtering for applicants," noting that "the bank identified its loan to terms with 20 1,000,030 million spend 40 million to the center of the province and these amounts are subject to the discretion of the Land Registry."

For its part, director of credit department Suhair Abdul Hamid said in an interview with (long-Presse) that "the sheer number of applicants exceeded Altzlavih plan, which forced us to stop the electronic form only in the provinces of Diwaniya, Kirkuk, Babil," indicating that "the management of the bank is trying to customize other amounts to meet required citizens to obtain housing units. "

She said Abdul Hamid said "the Land Bank plan is to provide valued at 834 billion dinars loans, after deducting the share of Anbar and Nineveh, after the liberation of the two provinces, bringing to amount 612 billion dinars, including the need for investment projects", claim to "increase support for the Real Estate Bank and the Housing Fund to meet the needs of citizens to overcome all the obstacles in securing loans. "

A source in the Real Estate Bank revealed, on Sunday (7 August 2016), 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".

As he emphasized the bank, on Monday (8 August 2016), to stop the loan transactions will be on a temporary basis until the transaction auditing completely, while pointing to the availability of cash in the bank, he confirmed that the bank has more than 10 thousand treated so far.

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.