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Housing relief incoming: President Muizzu urges BML to ease Hiyaa and Vinares loan burdens
President Dr Mohamed Muizzu confirmed he has formally asked Bank of Maldives to ease loans under the Hiyaa and Vinares social housing schemes, covering 535 Hiyaa finishing loans and 26 Vinares purchase loans. BML indicated readiness to cut Hiyaa profit rates from 12 to 10 percent with a structured repayment plan for defaulted borrowers, and agreed in principle to reduce Vinares purchase loan rates from 9 to 8 percent.
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Figures in these reports
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535 loansHiyaa finishing loans under social and affordable housingThe Standardthe President highlighted that 535 finishing loans for Hiyaa flats and 26 purchase loans for Vinares flats fall under the category of social and affordable housing.
Word for word from the report in The Standard. Open the report
26 loansVinares purchase loans under social and affordable housingThe Standardthe President highlighted that 535 finishing loans for Hiyaa flats and 26 purchase loans for Vinares flats fall under the category of social and affordable housing.
Word for word from the report in The Standard. Open the report
from 12 percent to 10 percentHiyaa finishing loan profit rate reductionThe StandardFor Hiyaa finishing loans, the bank is prepared to lower the profit rate from 12 percent to 10 percent.
Word for word from the report in The Standard. Open the report
from 9 percent to 8 percentVinares purchase loan profit rate reductionThe StandardFor Vinares purchase loans, BML has agreed in principle to bring down the profit rate from 9 percent to 8 percent, easing long term financial commitments for families who recently moved into the towers.
Word for word from the report in The Standard. Open the report
Other events named
no clear day, as worded
President Dr Mohamed Muizzu formally requested Bank of Maldives to introduce relief measures for loans issued under major social housing schemes.The StandardPresident Dr Mohamed Muizzu confirmed that he has formally requested Bank of Maldives to introduce relief measures for loans issued under major social housing schemes.
Word for word from the report in The Standard. Open the report
The government held direct discussions with Bank of Maldives to secure fairer terms for residents facing repayment pressures.The StandardHe stated that the government has held direct discussions with the bank to secure fairer terms for residents facing mounting repayment pressures.
Word for word from the report in The Standard. Open the report
