Real Estate Bank reveals new instructions for loans and credit plan agreement filing:

2016-08-22 21:56:00 | (Voice of Iraq) Baghdad

REB management revealed Monday, new instructions to ensure borrowers seriously implement their obligations, while pointing out the receipt of more than ten thousand loan request, apply credit plan agreement that are set up.

Said General Manager real estate Bank "rationalizing the Cabinet issued several instructions on lending citizens for greater safeguards to make sure the borrower obligations seriously", noting that "the Bank recognizes ten thousand and a hundred for a loan", stating that "these requests need to be twenty thousand and 50 thousand-hour detection process audit requires considerable time to complete the transaction and then the loan will resume."

Abbas said that "the Bank added two conditions the construction permit and the guarantor for the loan because of the large number of applicants and to increase the filtration for applicants", noting that "Bank select his loan of 20 million and 30 million to eliminate and 40 million for the County, and these amounts are subject to the registration assessment.

Credit Department Manager, said Suhair Abdul Hamid told the (range) that "the sheer number of applicants exceeded the credit plan, compelling us to turn off the electronic form except in the provinces of Diwaniya, Kirkuk, Babil", indicating that the Bank Manager trying other allocations to meet citizens ' needs for residential units.

Abdul Hamid said that the "plan real estate Bank is to provide loans worth 834 billion after deducting the share of Anbar and Nineveh provinces, after the liberation, 612 billion dinars amount including need investment projects", with "increased support for real estate Bank and Housing Fund to meet citizen needs to overcome all obstacles in securing loans.

Real Estate Bank source revealed, Sunday (7 August 2016), Bank management decided to stop granting loans to citizens transactions until further notice, with the reason attributed to lack of liquidity. "

The Bank confirmed on Monday, (8 August 2016), to stop the loan transactions would be temporarily until checking transactions completely, with drew to provide cash in the Bank, the Bank has more than 10000 treatment so far.

Real Estate Bank was announced, (July 19, 2016), that Bank mechanisms for disbursement to citizens up to 50 million dinars, among the interest on the loan amount 3% and up to 10 years without a sponsor and leave building, assured convert any employee receive bribes from citizens to justice and cancel the loan transaction.

The Iraqi real estate Bank is one of the State banks, 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 promoting physical and cultural country and solve the housing crisis, is solely responsible for supporting citizens and lent them to construct their own housing with soft and stable policy interest in physical movement activates in the country.