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Economists are demanding the government banks to provide support for housing projects and investment
06/11/2014 (0:01 pm)
BAGHDAD / Ibrahim Ibrahim
Called on the government banks economy experts to support the federal budget and financial liquidity owned by banks, which is estimated in billions, demanding not to rely on to provide for the purchase of cars because of their negative impact on the Iraqi economy loans.
The economist said the appearance of Mohammed Saleh in an interview for the "long", that "government policies and the way banks granted loans must be in line with the changing economic conditions, particularly in the current period, the country is experiencing significant challenges facing the local markets."
He added that "the number of employees and the government apparatus which nearly 4 million employees helped in the success of auto loans to some extent as consumer loans bring substantial benefits to the state banks for a medium."
Former adviser to the central bank, "explained the recent changes in the security and economic situation pay government institutions and private banking toward the liquidity support of the public budget through the purchase of treasury transfers and provide soft loans to overcome the current financial crisis as a result of the decline in world oil prices."
He said the "indiscriminate import cars significantly affected the infrastructure of cities and sapped billions of dinars from internal funds add to the financial burden posed by the import of petroleum products from gasoline and kerosene, which is estimated at 13 billion dinars annually."
He stressed that "the car loan interest rate of 7% is considered acceptable internally Iraqi market due to the high risk and exposure to many real-time variables do not believe in right path for the movement of funds invested internally."
He pointed out that "the government banks suffer from a glut in the money where it owns 65 percent of these deposits collectively exist in government banks, and the remaining 35 percent in private banks so by channeling financial capabilities towards contributing to the solution of some of the crises by granting housing loans to citizens and loans investment in infrastructure. "
Rasheed Bank announced the granting citizens Mbacherth loans of up to 20 million dinars for the purchase of cars for models (2012, 2013 and 2014).
An official source said that "the bank, proceeded through its branches in Baghdad and the provinces, including the Islamic branches granting citizens who wish to buy a modern car loans of up to 20 million dinars for the Models 201 220 132 014 exclusively, adding that" the cars must carry figures permanent and not temporary (Mnafist) or without numbers in order to be booked in the name of the bank, while paying another premium. "
"The bank's controls and conditions for the granting of these loans and wanting them to pay 15% of the value of the car introduction, as well as a state sponsor employee circles that covers his salary straight month nominal amount."
He pointed out that the bank select for the payment of the monthly installments of the loan in three years and an interest rate of up to 10%, such that the monthly payment up to 567 000 dinars.
With Rafidain Bank announced loans granted to citizens to buy a modern car installments, pointing to a select number of companies to complete this project.
An official source said that "the bank proceeded to grant loans to citizens to buy a car in installments, noting that" he has been allocated a number of branches of the exercise of this activity and the number of companies choosing to accomplish this project. "
It is noteworthy that Rafidain Bank was established under Law No. (33) for the year 1941 and started operations in 1941 with a paid-up capital of 50 000 dinars.
The number of branches of the bank are currently 147 branches in Iraq, in addition to (
branches in a sawmill in some Arab cities, namely: Cairo, Beirut, Abu Dhabi, Bahrain.
He criticized the Financial experts and economists, earlier, focusing the bulk of the volume of bank deposits in Iraq, amounting to nearly 70 trillion dinars, in government banks, and renewed calls for legislation establishing the contribution of the private and public sectors, company law, to ensure the deposits of citizens, working under the supervision of the Central Bank of Iraq , for the recovery of the national economy.
Turn economist said Abbas Bahadli "long", that "the government banks or civil works according to a certain format is the transfer of funds deposited with it to companies and citizens format different loans specify a time and a certain percentage of the financial interest."
He added that "the financial deposits are either from the government or the deposits of citizens of investors and those wishing savings representing approximately 30% of the six government banks funds which Mesopotamia, rational, real estate, industrial, agricultural, trade TBI, which owns today financial deposits of up to 70 trillion dinars. "
He explained Bahadli that "provide financial loans must be identifies with the developments and needs of the local market and not according to the vision profitability narrow lasted for years by providing loans for citizens to buy a car in installments without communication with the competent authorities to determine the scientific and economic criteria for the feasibility of these projects or not."
He said the "primary must be to support the private sector through increased lending to small and medium sized enterprises financial interest rate not to exceed the 3% and at intervals of not less than 10 years to provide a new and steady income borrowers and move the wheel of the local economy by pumping liquidity sufficient."
He stressed that "the face of terrorism and support the meager federal budget, the government requires banks to devote big cash liquidity for the promotion of investment projects and to ensure that vital movement Almtlki the local economy because of recurrent crises." It is noteworthy that the Association of private banks in Iraq, said in (the fourth of January 2013), the number of private banks in Iraq reached 32 banks in two decades, adding to the growing number of branches in Iraq to more than 500 branches and assets of these banks amounted to more than 12 trillion Iraqi dinars, as the volume of deposits in which eight trillion dinars, cash credit and link them to a total of three trillion and six billion dinars, while up capital of these banks and their reserves to three trillion and three billion Iraqi dinars, and that the total profits of these banks exceeded Al477 billion dinars.
The study estimated that the local government banks' capital stood until October of 2012, the end of the past, a total of 754 billion dinars, compared to more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded up to 31.10.2012, a sum nearly six billion dinars (5.947), and the share of government banks, including 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
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06/11/2014 (0:01 pm)
BAGHDAD / Ibrahim Ibrahim
Called on the government banks economy experts to support the federal budget and financial liquidity owned by banks, which is estimated in billions, demanding not to rely on to provide for the purchase of cars because of their negative impact on the Iraqi economy loans.
The economist said the appearance of Mohammed Saleh in an interview for the "long", that "government policies and the way banks granted loans must be in line with the changing economic conditions, particularly in the current period, the country is experiencing significant challenges facing the local markets."
He added that "the number of employees and the government apparatus which nearly 4 million employees helped in the success of auto loans to some extent as consumer loans bring substantial benefits to the state banks for a medium."
Former adviser to the central bank, "explained the recent changes in the security and economic situation pay government institutions and private banking toward the liquidity support of the public budget through the purchase of treasury transfers and provide soft loans to overcome the current financial crisis as a result of the decline in world oil prices."
He said the "indiscriminate import cars significantly affected the infrastructure of cities and sapped billions of dinars from internal funds add to the financial burden posed by the import of petroleum products from gasoline and kerosene, which is estimated at 13 billion dinars annually."
He stressed that "the car loan interest rate of 7% is considered acceptable internally Iraqi market due to the high risk and exposure to many real-time variables do not believe in right path for the movement of funds invested internally."
He pointed out that "the government banks suffer from a glut in the money where it owns 65 percent of these deposits collectively exist in government banks, and the remaining 35 percent in private banks so by channeling financial capabilities towards contributing to the solution of some of the crises by granting housing loans to citizens and loans investment in infrastructure. "
Rasheed Bank announced the granting citizens Mbacherth loans of up to 20 million dinars for the purchase of cars for models (2012, 2013 and 2014).
An official source said that "the bank, proceeded through its branches in Baghdad and the provinces, including the Islamic branches granting citizens who wish to buy a modern car loans of up to 20 million dinars for the Models 201 220 132 014 exclusively, adding that" the cars must carry figures permanent and not temporary (Mnafist) or without numbers in order to be booked in the name of the bank, while paying another premium. "
"The bank's controls and conditions for the granting of these loans and wanting them to pay 15% of the value of the car introduction, as well as a state sponsor employee circles that covers his salary straight month nominal amount."
He pointed out that the bank select for the payment of the monthly installments of the loan in three years and an interest rate of up to 10%, such that the monthly payment up to 567 000 dinars.
With Rafidain Bank announced loans granted to citizens to buy a modern car installments, pointing to a select number of companies to complete this project.
An official source said that "the bank proceeded to grant loans to citizens to buy a car in installments, noting that" he has been allocated a number of branches of the exercise of this activity and the number of companies choosing to accomplish this project. "
It is noteworthy that Rafidain Bank was established under Law No. (33) for the year 1941 and started operations in 1941 with a paid-up capital of 50 000 dinars.
The number of branches of the bank are currently 147 branches in Iraq, in addition to (
branches in a sawmill in some Arab cities, namely: Cairo, Beirut, Abu Dhabi, Bahrain.He criticized the Financial experts and economists, earlier, focusing the bulk of the volume of bank deposits in Iraq, amounting to nearly 70 trillion dinars, in government banks, and renewed calls for legislation establishing the contribution of the private and public sectors, company law, to ensure the deposits of citizens, working under the supervision of the Central Bank of Iraq , for the recovery of the national economy.
Turn economist said Abbas Bahadli "long", that "the government banks or civil works according to a certain format is the transfer of funds deposited with it to companies and citizens format different loans specify a time and a certain percentage of the financial interest."
He added that "the financial deposits are either from the government or the deposits of citizens of investors and those wishing savings representing approximately 30% of the six government banks funds which Mesopotamia, rational, real estate, industrial, agricultural, trade TBI, which owns today financial deposits of up to 70 trillion dinars. "
He explained Bahadli that "provide financial loans must be identifies with the developments and needs of the local market and not according to the vision profitability narrow lasted for years by providing loans for citizens to buy a car in installments without communication with the competent authorities to determine the scientific and economic criteria for the feasibility of these projects or not."
He said the "primary must be to support the private sector through increased lending to small and medium sized enterprises financial interest rate not to exceed the 3% and at intervals of not less than 10 years to provide a new and steady income borrowers and move the wheel of the local economy by pumping liquidity sufficient."
He stressed that "the face of terrorism and support the meager federal budget, the government requires banks to devote big cash liquidity for the promotion of investment projects and to ensure that vital movement Almtlki the local economy because of recurrent crises." It is noteworthy that the Association of private banks in Iraq, said in (the fourth of January 2013), the number of private banks in Iraq reached 32 banks in two decades, adding to the growing number of branches in Iraq to more than 500 branches and assets of these banks amounted to more than 12 trillion Iraqi dinars, as the volume of deposits in which eight trillion dinars, cash credit and link them to a total of three trillion and six billion dinars, while up capital of these banks and their reserves to three trillion and three billion Iraqi dinars, and that the total profits of these banks exceeded Al477 billion dinars.
The study estimated that the local government banks' capital stood until October of 2012, the end of the past, a total of 754 billion dinars, compared to more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded up to 31.10.2012, a sum nearly six billion dinars (5.947), and the share of government banks, including 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
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