Ministry of Finance and Housing Bank agree on electronic non-ownership certificates

BEIRUT — Fiannce Minister Yassine Jaber and the Chairman and General Manager of the Housing Bank, Antoine Habib, signed a memorandum of understanding between the ministry and the bank to allow property non-ownership certificates to be obtained electronically, the state-run National News Agency reported on Thursday.

Obtaining these certificates electronically would be possible through the electronic linkage of the Housing Bank and the Real Estate Affairs department.

The agreement took place at Jaber's office in the presence of the Director of Public Finance at the Ministry of Finance Georges Maarawi and members of the bank's board of directors. 

“Today, we signed a memorandum of understanding for electronic linkage between the Housing Bank and the Ministry of Finance, which will enable the bank to obtain the borrower's title property non-ownership certificate electronically, quickly and without any financial cost, thus facilitating the borrowing process," Habib said after the singing of the memorandum.

"With a great response from ... Jaber and ... Maarawi, we were able to achieve this achievement, which will start working as of tomorrow morning," he added.

In response to a question about other procedures required from the Real Estate Affairs department, he replied: “There is the Real Estate certificate and this can be obtained through the online electronic service of the Real Estate Affairs department directly by the borrower or from money transfer companies to facilitate the loan procedures, provided that it is officially obtained later.”

Habib noted that “the meeting with Jaber was an opportunity to present to him the projects that the bank has achieved, whether with the Arab Fund for Economic and Social Development, or with the Abu Dhabi Fund for Development, as well as with the Qatar Fund for Development."

Finally, he said that he would visit the Qatar Fund for Development between April 13 and 17 to discuss loans.