Mortgage notice + details
According to Tejarat News, the Islamic Consultative Assembly, in the form of Note 18 of the Budget Law of 1400, obliged the country’s banking system to pay 1.2 million 300 million housing construction facilities for homeless applicants.
Accordingly, the Central Bank was obliged to prepare instructions for housing construction facilities subject to this law and notify it to the country’s banks.
In this regard, the Monetary and Credit Council of the Central Bank, after two months from the mentioned date, announced the instructions for housing construction facilities subject to Note 18 in the form of an appendix to the heads of 27 banks operating in the country.
According to this instruction, Shakur banking system is obliged to introduce 1.2 million housing construction facilities with a ceiling of 250 million Tomans for urban housing and 100 million Tomans for rural housing at a rate of 18% approved by the Monetary and Credit Council. Notified by the Ministry of Roads and Urban Development.
Violation of the Monetary and Credit Council of the law
In some cases, the ceiling of facilities in cities and villages has been set at 250 million Tomans and 100 million Tomans, respectively, which according to the explicit text of the law, the ceiling of facilities for urban and rural areas should be 300 million Tomans.
According to the text of the Budget Law of 1400, all banks and non-bank credit institutions are required to build and renovate 400,000 rural and urban housing units in cities with a population of less than 25,000 and 800,000 urban housing units (with priority in deprived areas and areas). To pay three million and six hundred thousand billion (3,600,000,000,000,000,000) Rials for housing construction facilities (equivalent to 20% of the banking system facilities) to eligible individuals.
In this regard, the violation of the Monetary and Credit Council from the text of the Budget Law of 1400 occurs in a situation where the resources of 360 thousand billion Tomans intended for this project will be reduced to 240 thousand billion.
20-year repayment period
In addition to the ceiling set for these facilities, according to the instructions of the Monetary and Credit Council, the repayment period of housing construction facilities is considered to be a maximum of 20 years, which will be 3 years with the payment of facility interest and 17 years of principal facility repayment.
Payment of these facilities by the country’s banking system is subject to registration and approval of eligibility of applicants through the systems of the Ministry of Roads and Urban Development.
According to the notification of the Monetary and Credit Council of the Central Bank to the banks of the country regarding the implementation of the law, the Ministry of Roads and Urban Development should prepare the conditions for registration of applicants for housing facilities as soon as possible and introduce the applicants to the banks.
Source: فارس
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