Bank Maskan Loans Surge by 46% to $767m in 7 Months

Bank Maskan, the state agent bank of the housing sector, paid 201,360 billion rials ($767 million) in loans during the first seven months of the current fiscal year (March 20-Oct. 21). 
According to Mahmoud Shayan, Bank Maskan’s managing director, the value of loans furnished during the period shows a 46% rise compared with the corresponding period of last year, despite the recession in the housing market. 
“The facilities were doled out in various forms, including home loans under Housing Savings Account, housing bonds, housing repair bonds, or construction loans. Bank Maskan loans to home buyers and builders as well as those willing to repair their homes topped 1.13 million counts over the period,” he said.