Iraqi Construction and Housing Ministry has launched Interest-Free Loans

Iraqi Construction and Housing Ministry has launched Interest-Free Loans

The Iraqi Housing Fund has announced the issuance of interest-free loans. The Iraqi Ministry of Construction and Housing said in a statement that the Ministry is launching the electronic form to apply for housing fund loans from 2nd January 2020. The Iraqi citizens looking to get a housing loan in Baghdad and the provinces can fill out the form and receive a serial number for the transaction after following the completion stages. He mentioned the conditions of the loans and said the beneficiary must be an Iraqi citizen and completed 18-years of age in the country.

The statement also indicated the beneficiary owns a piece of residential land independently or rumored, and it should cover the amount of the loan granted to him. It is noteworthy that the area of ??the provided common land should not less than a hundred square meters (100 square meters). Moreover, the building area must be equal to, more than 65 square meters. The statement also said that the beneficiary (Iraqi citizen) must provide a guarantor who covers half of his nominal salary for the amount of the monthly installment due to the debtor’s debt.

There is also good news for the employees of the Iraqi Interior Ministry. Rafidain Bank has just announced privileges and financial facilities for employees of the Iraqi Ministry of Interior in order to provide loans and advances. The media office of the Rafidain Bank issued a statement. The statement has indicated that employees of the Iraqi Interior Ministry have become included in the types of advances and loans launched by the Bank after their salaries have been localized and their choice for Rafidain Bank in offering them the international Master Card. The statement also pointed out that the Bank has put in place plans to offer the best banking services to the employees of the Iraqi Interior Ministry.

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