This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press – Rabat
The Mohammed VI Foundation for the Promotion of Social Actions for Education and Training announced that the second traditional financing mechanism for the “Emtilak” housing assistance program will be increased to 200,000 dirhams at an interest rate of 0 for cent, emphasizing that the program, which extinguished its fifth candle, had recorded more than 42 thousand beneficiaries at the end of November 2024.
A press release from the Foundation explains: “Five years after the launch of the ‘Emtilak’ housing assistance program, the Mohammed VI Foundation for the Promotion of Social Actions for Education and Training announces the modification of one of the mechanisms of the program to strengthen access to housing for the benefit of the teaching family.
The same source emphasizes that “participants who do not own a primary residence, and who have not previously benefited from the “Vogaliv” or “Imtilak” program, can now obtain a loan worth 200,000 dirhams, totally exempt from the interest rate (0 percent). ) (instead of the 150,000 dirhams previously proposed), with a fixed repayment period of 15 years maximum, and it may be attached to an additional loan at a preferential interest rate, specifying that it is intended that This modification will come into force on January 1, 2025.
Furthermore, the communication specifies that no change would affect the three other mechanisms of the “Imtilak” program, which are represented by a loan of 300,000 dirhams supported by two points (2%) of the preferential interest rate, with the possibility of linking it to a complementary loan at a preferential rate (the maximum repayment period of this loan is 25 years), and to a loan mechanism at a preferential rate with a fixed aid of 40 000 dirhams provided by the Foundation (maximum repayment period). repayment of this loan He is 25 years old.)
He added that it is also a “Murabaha” financing mechanism, with preferential profit margin, with lump sum assistance of 40,000 dirhams provided by the institution (the maximum repayment period of this loan is 25 years).
The “Imtilak” program was launched, according to the same source, in 2019 as part of the implementation of the organization’s 2018-2028 ten-year plan, and it aims, through its four financing mechanisms, to support 100,000 beneficiaries by 2028, highlighting that this program has achieved to date 42 percent of the declared objective, with a total of 42,089 people benefiting from its launch until the end of November 2024.
In the same context, statistics reveal a significant interest of participating beneficiaries for traditional financing, since 75 percent of them preferred it, while 25 percent of them chose “Murabaha” crowdfunding. The figures also indicate that 80 percent of support requests are related to the acquisition of housing, while 20 percent concern the acquisition of land and/or housing construction operations.
The communication concludes that at the end of last November, the institution’s financial obligations under the “Imtilak” program had reached approximately 2.5 billion dirhams, thus confirming its serious and continuous effort to improve accommodation conditions in benefit of the Moroccan educational family. .
