The Real Estate Bank announced today, Saturday, an increase in allocations for the housing initiative by one trillion dinars.
The bank stated in a statement received by "Video News Agency" that, "In commitment to the directives of Prime Minister Ali Al-Zaidy, Minister of Finance Faleh Sari, and Governor of the Central Bank of Iraq Nizar Nasser, and as part of supporting Iraqi families and meeting their housing needs in all our beloved provinces, the Real Estate Bank announced an increase in the allocation for the housing initiative in 2026 by (1) trillion Iraqi dinars; aimed at meeting the demands of citizens wishing to obtain real estate loans to purchase housing units within investment housing complexes in various provinces."
It added that, "The initiative aims to achieve a number of developmental and economic objectives, most notably:
- Contributing to addressing the housing crisis by supporting the establishment of new regular housing units in various Iraqi provinces.
- Providing job opportunities for the sons of the nation, contributing to supporting the workforce and revitalizing the labor market.
- Strengthening the national economy by revitalizing local production and supporting national industries, especially brick, iron, cement, and plastic construction materials factories, among others."
It continued that "the board of directors of the Real Estate Bank held its tenth session last Tuesday to ratify the instructions for the new real estate initiative and to initiate lending procedures in accordance with the adopted controls and instructions."
The statement emphasized that "as part of the Real Estate Bank's ongoing efforts to enhance its banking services and simplify procedures for citizens, the bank worked in coordination with the Central Bank of Iraq and according to the adopted instructions to organize and develop mechanisms for lending and electronic repayment of monthly installments through its electronic platform and mobile application, which allows citizens to complete repayment operations easily and conveniently without the need to visit the bank branches spread across 15 Iraqi provinces."
The statement concluded that "the Real Estate Bank continues its efforts to develop its services and expand the scope of digital transformation, contributing to improving the quality of services provided to citizens, enhancing financial inclusion, and supporting the development process in our dear country."