Iraq’s Real Estate Bank Increases Housing Initiative Funding by IQD 1 Trillion

Iraq’s Real Estate Bank announced on Saturday an additional IQD 1 trillion in funding for its housing initiative in 2026, aiming to expand access to real estate loans for citizens seeking to purchase residential units in investment housing complexes across the country.

In a statement, the bank said the increase follows government directives and is intended to support Iraqi families and meet their housing needs. The initiative also seeks to help ease the housing crisis by supporting the development of new residential units in various governorates.

The bank added that the program is expected to create employment opportunities, stimulate the labor market, and strengthen the national economy by boosting local production and supporting construction-related industries, including brick, steel, cement, and plastic building materials.

According to the statement, the bank’s board of directors held its tenth meeting last Tuesday to approve the regulations governing the new initiative, paving the way for lending procedures to begin in accordance with established requirements.

The bank also highlighted its ongoing efforts to modernize banking services and simplify loan repayment procedures. In coordination with the Central Bank of Iraq, it is developing electronic lending and monthly installment payment services through its online platform and official mobile application.

These services will allow citizens to make payments conveniently without visiting the bank’s branches operating across 15 Iraqi governorates.

The bank concluded by reaffirming its commitment to expanding digital transformation, improving service quality, promoting financial inclusion, and supporting Iraq’s broader economic development.