ID :
442650
Wed, 04/05/2017 - 12:56
Auther :

Central bank allotting MNT 25-35 billion for housing mortgage program

Ulaanbaatar /MONTSAME/ Following the revised regulation of financing of housing mortgage program, the Bank of Mongolia is allocating mortgage loan funding to commercial banks every month. The public has issued complaints to the central bank concerning the rumors which implied the Bank of Mongolia has discontinued funding for the 8 percent loan. In order to continue mortgage funding during today's economic difficulties, the Bank of Mongolia is allocating around MNT 25-35 billion funds to commercial banks for a housing mortgage loan every month. Therefore, the Bank of Mongolia requested commercial banks to prevent from false rumors which could affect public confidence towards the policies implemented by the Government and Bank of Mongolia by conveying genuine information to the general public. The regulation of financing housing mortgage was approved on October 25, 2016, according to which, repayments of mortgage loan are granted by the central bank every month. During the period from October 2016 to February 2017, the Bank of Mongolia has funded MNT 142.3 billion in total within the 8 percent mortgage loan program.

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