عربي Available loan types:
Business loans
SE Business loans
Home Improvement loans
Special need loans
Consumer loans (for existing clients of 4th cycle and above only)
Compensation Loan
Available loan types:
Business loans
SE Business loans
Home Improvement loans
Special need loans
Consumer loans (for existing clients of 4th cycle and above only)
Compensation Loan
• You can apply by visiting our offices.
• Call our customer service center at 07822909192 and submit your request.
• Message us on our official CHF Vitas Iraq Facebook or Instagram pages.
• Contact us on our website www.vitasiraq.com or through the CHF Vitas Iraq mobile application.
To apply for a loan a client must meet the following criteria:
· Between 18 and 65 years of age.
· If the borrower is above 65 years of age, he/she can only take a renewed loan, and it is required to register the loan in the name of his/her son, daughter or wife.
· The business must be in operation for at least one year.
· The business or home of the borrower must be in the same governorate where he/she applied for the loan.
· Must show a repayment capacity and commitment to repay on time.
· Must provide sufficient guarantors to cover the monthly repayments.
· For home improvement, if the client is a governmental employee, he/she must be the proprietor of the house and should provide proof of ownership.
· The business must be legal, but it is not obligatory to be registered or licensed.
• Civil status ID - Iraqi citizenship certificate – Housing card or endorsement - Ration card if available, or National ID card "photocopy + original".
• Baghdad Chamber of Commerce ID.
CHF Vitas Iraq offers loans with flexible amounts up to $35,000 and terms ranging from 8 to 36 months; both of which are dependent on the type of loan, borrower’s need, ability to repay, use of the loan and his/her credit history.
The fees varies from one loan to another depending on the type, size, duration and cycle of the loan. The amount is deducted in advance and covers the operational expenses.
Repayments are made on a monthly basis and the schedule will be specified by CHF Vitas Iraq. Repayments can be done inside our branches at the teller function, in the banks specified on the repayment slips, at Zain Cash agents or through VitasIraq mobile app.
Only when the client has fulfilled the complete loan requirements, he/she shall receive their check in approximately five working days after submitting the complete application.
The borrower can only apply for one loan at a time. Only when the client fully repays the loan will he/she become eligible to apply for another. The client can apply for different loan types in the future.
The loan disbursement process is free and the organization with its staff does not accept any gifts or the like.
Yes, our loans, in general, are tailored specifically for Islamic borrowers, as there is no periodic or accumulated interest. This means that the loans given out are returned with the same amount. Only application fees and expenses are deducted upfront (as a whole amount from the initial loan.) This is consistent with the Fatwa we have acquired; the two endorsements cover both situations faced by the institution, dealing with clients and dealing with the institution’s employees.
These endorsements are not reviewed as the Fatwa is only done once and cannot be edited, reviewed or canceled.
No, CHF Vitas Iraq is a nonprofit NGO that directs the application fees and expenses towards sustaining its operations, customer service, and salaries.
It is the insurance of the loan amount in the event of death or total disability of the borrower. In case of total disability the borrower is exempt from repaying his loan. In the event of the death of the borrower, family members and their dependents are exempted from paying the remainder of the loan. An additional fee of 1% on the loan is added, and deducted in advance from the loan amount.
• An employee in any state department
• An owner of a project to which the conditions apply
· Civil status ID - Iraqi citizenship certificate – Housing card or endorsement - Ration card if available, or National ID card "photocopy + original".
· Salary statement addressed to CHF Vitas Iraq, stating the value of the current salary and proving the continuity of service, or a salary slip (original) stating the date of issuance of the slip.
· Note that the validity of the salary statement or slip is three months from the date of issue.
The guarantor should not have any outstanding loans with CHF Vitas Iraq. Once the guarantor completes his/her loan repayment, he/she becomes eligible to apply for a CHF Vitas Iraq loan.
The guarantor can only guarantee one CHF Vitas Iraq borrower at a time.
The old guarantor may be replaced by a new guarantor whose repayment capacity is equal to or greater than that of the old guarantor. The guarantor is replaced in the following cases:
If the guarantor dies – moves out of the province - becomes unemployed - if the guarantor wishes to apply for a loan or wants to stop the guarantee of the borrower for personal reasons.