Failure of banks to pay mortgages

According to Tejarat News, the spokesperson of the Construction Commission of the Islamic Council said that the banks did not cooperate in paying the facilities Housing He criticized in the form of a plan to jump housing production in the country.

Tasnim reported, Abdul Jalal Iri said: The Law of Housing Production Leap approved by the Islamic Council includes five chapters such as providing financial resources for housing construction, providing land, providing construction materials, providing construction services and other matters.

Iri stated: In this law, financial resources are considered for the construction of housing, but the banks have not fulfilled their legal duty in this field.

He said: Article (4) of the Housing Production Jump Law says: “Banks and non-banking credit institutions are obliged to allocate at least 20% of the payment facilities of the banking system in each fiscal year to the housing sector at the interest rate approved by the Money and Credit Council, so that in the year First, the implementation of the law should not be less than three million and 600 thousand billion Rials for the units subject to this law, and for the coming years, the minimum resources of the aforementioned facilities should be increased by increasing the percentage mentioned above in accordance with the annual inflation rate.

The spokesman of the Majlis Construction Commission added: Note (5) of Article (4) of the Housing Production Jump Law also said in this connection, “In case of non-compliance with the issue of this article, the tax affairs organization is obliged to pay twenty percent (20%) of the obligation in the form of the annual tax budget.” collect the unfulfilled amount from banks and credit institutions and deposit it to the treasury of the whole country, and this amount is considered 100% allocated and deposited into the National Housing Fund account.

Abdul Jalal Iri added: Banks do not even pay based on the interest rate approved by the Monetary and Credit Council for the construction of housing in the country, which is very unfortunate.

Iri stated: There is a legal basis for suing banks and the legislator has prepared this plan.

He said: If the Ministry of Roads and Urban Development or the Housing Foundation determines that the land belongs to an executive body and must be handed over for the construction of housing in the form of a housing production jump plan, the said executive body is obliged to hand over this land.

The representative of the people of Bandar Turkman, Bandar Gaz, Kordkoi added: “The law clearly says: “If this land is not handed over within two months, the Land Registry can automatically and directly transfer the land deed to the Ministry of Roads and Urban Development. “

Eiri further reminded: In general, executive bodies have been given a deadline until the end of September this year to hand over all the properties specified by the Ministry of Roads and Urban Development for housing construction, otherwise the said law will be implemented.