monetary professional, Sadiq Al-Rikabi, confirmed today, Saturday, that the choice to lessen the mechanism for purchasing and promoting real property, which become lately permitted via the vital financial institution, is a wrong selection and now not well studied, stating that there is a lack of confidence amongst citizens in the direction of banks in this field.
Al-Rikabi, in a statement to dinaropinions.com, explained that “the decision to lessen the mechanism for buying and selling real property, which was authorized by way of the vital bank, will immediately have an effect on citizens and the actual property market, as the new mechanism will face many troubles and boundaries at some point of the manner of depositing the purchaser’s money and receiving it from the seller, in addition to beginning the door to cases of corruption in banks and the actual property region below the pretext of facilitating strategies.”
He known as on “the central bank to opposite its new choice and go back to working with the previous mechanism,” stressing that “the current decision places first-rate burdens on the commonplace citizen with out affecting the wealthy and the corrupt.”
He warned of “the poor repercussions which can end result from the continuing implementation of this choice, specially in light of the cutting-edge economic conditions that require citizen support and strengthening self belief inside the banking machine.”
The primary financial institution had previously issued, in an legit letter, directives to the actual property Registration department prohibiting the sale of real property exceeding one hundred million dinars in value. consistent with the brand new mechanism and instructions, actual property can simplest be bought thru banks, with the purpose of reducing cash laundering operations.