By John Lee. The Iraqi Cabinet has approved significant banking reforms, including the establishment of a new, innovative financial institution named Rafidain First Bank [Rafidain Al-Awal Bank]. The new bank aims to lead regional financial markets and provide advanced digital banking services. Key Details: New Bank Creation: Rafidain First Bank will operate as a joint-stock […]
By John Lee. The Central Bank of Iraq (CBI) has decided to allocate additional funding amounting to approximately 3 trillion dinars [$2.3 billion] to facilitate housing loans through the Real Estate Bank and the Iraqi Housing Fund, supporting the government's housing initiatives. According to the state-run Iraqi News Agency (INA), the Central Bank has instructed […]
By John Lee. The Iraqi Cabinet has approval a doubling in the capital of the Iraqi Housing Fund. The capital will increase from 1 trillion to 2 trillion Iraqi dinars ($1.4 billion), with the additional funds to be paid by the Ministry of Finance. (Source: Office of the Prime Minister)
By John Lee. The Central Bank of Iraq (CBI) has announced increased funding for the housing sector, and the cancellation of interest on "old and current" loans. It said it has allocated 1 trillion dinars [$685 million] to the Real Estate Bank and about 900 billion dinars [$616 million] to the Housing Fund. (Source: CBI)
By John Lee. Prime Minister Dr. Haider Al-Abadi has approved the procedures for issuing loans from the housing fund, allocated from the central bank's budget of five trillion Iraqi dinars ($4.2 billion). The loans will be distributed to the provinces as per the percentage of population (80 percent) and the degree of poverty (20 percent) […]
