Rafidain issues instructions on the transfer of ownership of the property in favor of
Rafidain issues instructions on the transfer of ownership of the property in favor of the borrower 50 million dinars
07/06/2017 11:40 | Number of readings: 91
Trend Press / Baghdad
The Rafidain Bank on Wednesday not to transfer the ownership of the property in favor of the citizen only after payment of financial obligations related to the loan 50 million dinars.
The information office of the bank said in a statement that Al-Tijah Press received a copy of one of the conditions for granting loans to citizens amounting to 50 million dinars for purposes of construction in a land area of 50 meters. It is not possible to transfer property ownership or to take any legal action until after payment All obligations towards the Bank or approval thereof.
The borrower must use the loan for the purpose given to him. In case of default, the loan is deemed to be worth performing. He said that the insurance will be carried out on the life of the borrower at the National Insurance Company in favor of the bank and confirmed in the loan contract.
The statement said that a special contract is being arranged between the bank and the citizen under the loan contract and a stamp fee will be paid according to the legal regulations.