The Central Bank of Iraq has issued a call to the government and the House of Representatives to support the Real Estate Bank and the Iraqi Housing Fund. In a statement, the board urged for an annual allocation within the federal budget to increase the capital of these institutions, enabling them to provide housing loans to citizens.
The initiative is aimed at promoting sustainable development, prosperity, and well-being for citizens by providing adequate housing and contributing to urban expansion and development. To achieve this goal, the board has instructed both institutions to develop a strategic plan for housing lending that aligns with government directives and regulations, ensuring fairness and prioritizing completed or pending transactions.
Furthermore, the Central Bank of Iraq has announced plans to provide additional funds totaling about 3 trillion Iraqi dinars to streamline the process of granting housing loans through these two institutions. This move is expected to address some of the challenges faced by citizens in accessing affordable housing options.
In conclusion, investing in these initiatives will not only address some of the most pressing challenges facing citizens in terms of housing but also contribute significantly to economic growth in Iraq. Therefore, it is crucial that the government provides support for these institutions by allocating an annual budget for their capital increase.
.png)
