Mortgage Bank Increases Credit for Housing

Iraq’s Mortgage Bank has decided to raise the personal credit, granted for any citizen planning to build a house, to 60 million Iraqi dinars [$53,000], the Bank’s Director-General, Hussein Ahmed Tu’ma, said on Wednesday.

He said that the minimum total area of each patch of land would be decreased to 90 square meters from 100 meters, adding that the Finance Ministry plans to increase the Mortgage Bank’s capital to 75 billion dinars, and eventually to 150 billion dinars next year.

(Source: Aswat al-Iraq)

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