To guarantee recovery of the whole amount of the loan in addition to
the banking services fees and the administrative calculated on the loan balance from the citizen, the bank has laid down specific securities for the same, which are as follows:
Firstly: Mortgaging the project plot and the buildings thereon in favor of the bank with the Real Estate Registry Secretariat, Ministry of Housing, Electricity and Water till full and final settlement of the loan.
Secondly: Obligating the borrower’s employer or guarantor for self-employed to regularly transfer the monthly installment to the saving account.
Thirdly: Insuring the life and property of the borrower to guarantee repayment of the loan balance by the insurance company in case of the borrower’s death or insolvency or if the property is exposed to the natural risks stipulated in the policy.