Home
Experts call for banks to provide support for housing projects
14/1/2015
Called on the government banks economy experts to support the federal budget and financial liquidity owned by the banks, which is estimated at 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, said that government policies and the way banks granted loans must be in line with the changing, especially in the current period, the country is experiencing great challenges facing local markets and economic conditions.
He added that the number of employees of the governmental body 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.
The former adviser to the central bank explained that the recent changes in the security and economic situation pay government institutions and private banking liquidity support towards the public budget through the purchase of treasury transfers and the provision of soft loans to overcome the current financial crisis as a result of the decline in world oil prices.
He said the indiscriminate import of cars significantly affected the infrastructure of cities and sapped billions of dinars from internal funds in addition to the financial burden posed by the import of petroleum products from gasoline and kerosene, which is estimated at 13 billion dinars annually.
He said the car loan interest rate of 7 percent is considered acceptable internally because of the high risk of the Iraqi market and many topical exposure to the variables do not believe in a correct path for the movement of funds invested internally.
He pointed out that government banks are suffering from a glut in the money where it owns 65 percent of those deposits combined exist in government banks, and the remaining 35 percent in private banks so by channeling financial capabilities towards contribute to solving some of the crises by granting housing loans to citizens loans and investment in infrastructure.
Rasheed Bank announced Mbacherth granting citizens loans of up to 20 million dinars to buy cars for models (2012, 2013 and 2014).
With the Bank of Iraq announced a grant loans to citizens to buy modern cars in installments, pointing to a select number of companies to complete this project.
An official source said that the bank began to grant loans to citizens to buy a car in installments, adding that he was allocated a number of branches to exercise this activity and a select number of companies to complete this project.
It is noteworthy that the Rafidain Bank was established by Law No. (33) for the year 1941 and started operations in 1941 with a paid-up capital of 50 000 Iraqi dinars.
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 , to revive the national economy.
In turn, said economist Abbas Bahadli that government banks or civil works according to a certain formula 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 deposits are either from the government or deposits of citizens of investors and those wishing savings representing approximately 30 percent 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 said the primary must be to support the private sector through increased loans to small and medium enterprises financial interest rate does not exceed 3 percent and at intervals of not less than 10 years to provide a new and fixed-income borrowers and moving the wheel of the local economy by pumping liquidity sufficient.
The study estimated Mhalihan government banks' capital reached until October of 2012, the last end, a total of 754 billion dinars, compared with more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded up to 31.10.2012, the amount of approximately six billion dinars (5.947), and the State-owned banks, including the share of 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
[You must be registered and logged in to see this link.]
--
14/1/2015
Called on the government banks economy experts to support the federal budget and financial liquidity owned by the banks, which is estimated at 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, said that government policies and the way banks granted loans must be in line with the changing, especially in the current period, the country is experiencing great challenges facing local markets and economic conditions.
He added that the number of employees of the governmental body 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.
The former adviser to the central bank explained that the recent changes in the security and economic situation pay government institutions and private banking liquidity support towards the public budget through the purchase of treasury transfers and the provision of soft loans to overcome the current financial crisis as a result of the decline in world oil prices.
He said the indiscriminate import of cars significantly affected the infrastructure of cities and sapped billions of dinars from internal funds in addition to the financial burden posed by the import of petroleum products from gasoline and kerosene, which is estimated at 13 billion dinars annually.
He said the car loan interest rate of 7 percent is considered acceptable internally because of the high risk of the Iraqi market and many topical exposure to the variables do not believe in a correct path for the movement of funds invested internally.
He pointed out that government banks are suffering from a glut in the money where it owns 65 percent of those deposits combined exist in government banks, and the remaining 35 percent in private banks so by channeling financial capabilities towards contribute to solving some of the crises by granting housing loans to citizens loans and investment in infrastructure.
Rasheed Bank announced Mbacherth granting citizens loans of up to 20 million dinars to buy cars for models (2012, 2013 and 2014).
With the Bank of Iraq announced a grant loans to citizens to buy modern cars in installments, pointing to a select number of companies to complete this project.
An official source said that the bank began to grant loans to citizens to buy a car in installments, adding that he was allocated a number of branches to exercise this activity and a select number of companies to complete this project.
It is noteworthy that the Rafidain Bank was established by Law No. (33) for the year 1941 and started operations in 1941 with a paid-up capital of 50 000 Iraqi dinars.
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 , to revive the national economy.
In turn, said economist Abbas Bahadli that government banks or civil works according to a certain formula 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 deposits are either from the government or deposits of citizens of investors and those wishing savings representing approximately 30 percent 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 said the primary must be to support the private sector through increased loans to small and medium enterprises financial interest rate does not exceed 3 percent and at intervals of not less than 10 years to provide a new and fixed-income borrowers and moving the wheel of the local economy by pumping liquidity sufficient.
The study estimated Mhalihan government banks' capital reached until October of 2012, the last end, a total of 754 billion dinars, compared with more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded up to 31.10.2012, the amount of approximately six billion dinars (5.947), and the State-owned banks, including the share of 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
[You must be registered and logged in to see this link.]
--
