Bank Maskan Loans Top $360 Million

Bank Maskan, the state-run agent bank of housing sector, granted a total of 102,295 loans worth 43,080 billion rials ($362 million) during the first quarter of the current fiscal year (March 21-June 21), indicating an increase of 5.3% in the value of facilities year-on-year, an official with the bank said.

“A total of 31,211 loans [for purchasing homes] worth 16,640 billion rials [$139.83 million] were granted during the period whereas the number of construction loans stood at 2,698 worth 3,240 billion rials [$27.22 million],” HIBNA also quoted Mohammad Hassan Alamdari as saying.

Bank Maskan’s facilities are granted chiefly in the form of bond facilities and savings funds.

source: Financial Tribune