Rafidain Bank decides to exclude borrowers referred to retirement from providing a mortgage

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Al-Rafidain Bank announced on Monday the exclusion of borrowers referred to retirement from providing a bond of property, pointing out that this is through the submission of a pledge approved by the General Administration.
“It has been decided to exclude borrowers who are retired from offering a mortgage and grant them a patent if a certified undertaking is made to pay part of the loan from end of service benefits,” the bank’s information office said in a statement.
The office added that “this should be provided to the sponsor of a second civil servant not to exceed the age of 55 years,” pointing out that “the interest will be 9 percent if the remaining loan to 10 million dinars and 11 percent if the remaining more than 10 million dinars.”
Since 2006, Rafidain Bank has extended various loans to employees and citizens within certain mechanisms and controls.

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