Central Bank confirms the coverage of 4 categories of loans
Mawazine News – Baghdad
The Central Bank of Iraq confirmed, on Friday, that the volume of its initiatives for citizens reached 13 trillion dinars, while it pointed out that housing loans are continuing, and indicated that there is a continuous demand for them, pointing to the inclusion of 4 categories.
Deputy Governor of the Central Bank Ammar Hamad Khalaf said that “the land bank is currently counting, arranging and reviewing previous loans and then will open the application link again,” noting that “the Central Bank’s lending initiative exists in the presence of additional financing.”
He added, “The value of the initiative is a maximum of 150 million dinars,” explaining that “the initiative includes 4 categories: youth, members of the security forces, employees and retirees.”
The Central Bank of Iraq confirmed, on Friday, that the volume of its initiatives for citizens reached 13 trillion dinars, while it pointed out that housing loans are continuing, and indicated that there is a continuous demand for them, pointing to the inclusion of 4 categories.
Deputy Governor of the Central Bank Ammar Hamad Khalaf said that “the land bank is currently counting, arranging and reviewing previous loans and then will open the application link again,” noting that “the Central Bank’s lending initiative exists in the presence of additional financing.”
He added, “The value of the initiative is a maximum of 150 million dinars,” explaining that “the initiative includes 4 categories: youth, members of the security forces, employees and retirees.”
He pointed out that “many citizens have benefited from the bank’s lending initiatives, and there is a continuous demand for loans.”
He pointed out that “the Central Bank did not stop housing loans, but according to the monetary policy adopted by the Central Bank since last year, the total funds allocated to this type of loan were determined in amounts less than in the past as the loans exist, but the funds allocated to the real estate bank were open to some extent in the past.”
He continued that “there is a determination by the Central Bank according to the monetary basis it deems to achieve the interest of the Iraqi economy and monetary policy,” noting that “the Central Bank of Iraq and because of the circumstances that Iraq went through in 2014, launched very important initiatives for the Iraqi economy in 2015, and it was one trillion initiative and another initiative through specialized banks of five trillion Iraqi dinars,” however, saying that “over time, the initiatives have expanded and now reached the limits of 13 trillion Iraqi dinars, where one became one trillion four trillion and more, and five trillion has become more than ten trillion.”
He pointed out that “finance was present according to monetary policy in that period, which was called the expansionary monetary policy of the Central Bank, but after 2023 and due to the economic conditions in general, the bank took a different direction to fiscal policy.”
He stressed that “the housing sector is the one of the leaders of initiatives compared to other sectors such as the agricultural, tourism and industrial sectors, due to the shortage of housing units in the country, in addition to the result of the availability of support at an interest rate of 5% only for twenty years for a loan up to 150 million dinars, as the citizen is able to buy a property with this type of loan and perhaps more.”
No comments:
Post a Comment