Iraq’s Real Estate Bank announced on Saturday that it would increase funding for its 2026 housing initiative by IQD 1 trillion, aiming to expand access to property loans for citizens purchasing residential units in investment housing complexes across the country.
In a statement, the bank said the additional allocation is part of broader government efforts to support Iraqi families and address their housing needs. The initiative is also intended to help alleviate the housing shortage by encouraging the construction of new residential units across the governorates.
The bank noted that the program is expected to deliver wider economic benefits, including creating employment opportunities, stimulating economic activity, and supporting domestic industries and locally produced construction materials, particularly bricks, steel, cement, and plastic building supplies.
The statement added that the bank’s board of directors held its tenth meeting last Tuesday to approve the regulations governing the new initiative, paving the way for loan applications and disbursements to proceed under the approved terms and conditions.
The bank also highlighted its continued efforts to modernize financial services and simplify loan repayment procedures. In coordination with the Central Bank of Iraq, it is developing electronic lending and monthly installment payment mechanisms through its digital platform and official mobile application.
These services are designed to enable beneficiaries to complete repayments conveniently without visiting bank branches.
The bank concluded by reaffirming its commitment to expanding digital banking, streamlining financial transactions, strengthening financial inclusion, and improving services for citizens while supporting Iraq’s economic development.
