Dabagh: Government to increase capital of housing fund

Baghdad (IraqiNews.com) The Official Spokesperson of the Iraqi Government, Ali al-Dabagh explained the reasons behind the consent of the Government to grant a loan to the housing fund of about IQD (150) million.

Dabagh reported in press statement received by IraqiNews.com on Wednesday ”The Iraqi Government is keen to support the housing fund because this fund when increased, more people will get free of interest loans to build their houses.”

The statement added ”The Ministry of Finance demanded the Cabinet to approve amending the resolution of the Council of Ministers no. (145) of 2012, and the legal directorate of the general secretariat of the Council of Ministers has endorsed the request of the Ministry of Finance, and the Council of Ministers issued the resolution no. (145) of 2012 which stipulates to grant a loan to the housing fund IQD (150) million from the banks which belong to the Ministry of Finance without any benefits.”

The statement pointed out ”The Rafidain and Rasheed banks explained that they can not grant loans without interests because the money belong to people who save their money in these banks and the banks pay benefits for people and thus these two banks can not grant housing loans for citizens without obtaining benefits from them.” \