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Parliamentary Economy: the launch of the loans is an important step to support domestic production and call control for project funds
28/06/2015
BAGHDAD
The Commission on the economy parliamentary, on Saturday, that the launch of self SMEs step to support domestic production condition distancing itself from nepotism, as called for projects to be implemented through the banking borrowing control, an expert in economic affairs called for the support of the private sector through the provision of banking facilities and the adoption of the principle of transparency in dealing with investors.
The Commission said the economy parliamentary Najiba by Najib in an interview for the "long", that "the loans that would give the central bank for banks, which would give small and medium-sized enterprises will be reflected positively on the Iraqi economy in general."
said Najib, "The loans will be given to small and medium projects, mostly related to agricultural and livestock side, "asserting" that there should be a plan for the equitable distribution of loans. "
She said "loans that will be granted this time must be different from its predecessors in many ways, the first of distributive justice and away from private that the purpose of the distribution of the loans is to benefit the ordinary citizen favoritism and the opening of economic projects that serve the Iraqi reality. " And it showed Najib said the "big dealers and owners of the many money will not enter into conflict to obtain the loan because of the lack of allocated per project money, and that's good," asking "the need to follow up the recipients of the loans and projects."
She stressed that "the benefits of a few loans, bank, will give 1% the central bank as interest, but the banks will determine the interest on the loan given to citizen ratio and therefore these benefits are easy on the citizen and the benefit of the Central Bank. "
For his part, Chamber of Commerce member of the Baghdad Maitham Yasiri told the "term" that "the Chamber of Commerce phase taking procedures in order to contribute in the development of effective mechanisms to make this initiative effective and successful to reach the beneficiaries of the business owners. "
The Yasiri that "the granting of loans to the owners of small and medium enterprises is an important step," and urged to make the distribution transparent and far-loan procedures for favoritism to reach the beneficiary real to reduce the unemployed and move the market wheel ratios. "
For his part, saw an expert on economic affairs Maitham Laibi "The problem in the Iraqi economy was is poor funding and is not configured private sector warheads big money is capable of investment his province administration himself."
He said coffee in a statement "long" that "this matter was important for the formation of the sector after years in order to lead the economy and the withdrawal of the public sector, due to the weakness of the potential financing of the private sector, so the idea was that the public sector to the private sector and Contractors offers in advance of the projects as a way of funding supported."
He said "The private sector remained dependent on the public sector in funding because of the rents high the Iraqi economy and because of the entry of many Translated, so it has not been able to develop its potential, as well as administrative, political and military reasons, therefore, this problem has accumulated in the budget and remained list did not back down over time".
He stressed Head of the Department of Banking and Financial Sciences at the University of Mustansiriya that "the government is doing to protect their money in this kind of contracts by withholding payments to ensure, that the Ataud the money to the contractor in the absence of its commitment to provide proof of his commitment to progress the implementation of the contract."
He concluded Laibi " The problem that arose from the government side is that the advances which withdrew were not had spotted her money in the budget, especially after the crisis, falling oil prices, which led to the suspension of many projects. "
agreed the Iraqi Central Bank, earlier, to launch trillion dinars for private banks project finance loans, indicating that it was approving instructions regulating the work of guaranteed bank loans companies.
The bank said in a statement the "long" has received a copy of it, "we decided to approval by the Board of the Central Bank meeting on the launch of the sum of (1) trillion dinars for private banks for the purpose of microfinance loans and medium to citizens and approve their own controls. "
The bank said it decided "also approve instructions regulating the work of guaranteed bank loans companies."
The Central Bank of Iraq, in December 21, 2014 it continues to cover all the conversion requirements of cash and selling at the auction, adding that he believes in the importance the private sector and its role in rebuilding Iraq.
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28/06/2015
BAGHDAD
The Commission on the economy parliamentary, on Saturday, that the launch of self SMEs step to support domestic production condition distancing itself from nepotism, as called for projects to be implemented through the banking borrowing control, an expert in economic affairs called for the support of the private sector through the provision of banking facilities and the adoption of the principle of transparency in dealing with investors.
The Commission said the economy parliamentary Najiba by Najib in an interview for the "long", that "the loans that would give the central bank for banks, which would give small and medium-sized enterprises will be reflected positively on the Iraqi economy in general."
said Najib, "The loans will be given to small and medium projects, mostly related to agricultural and livestock side, "asserting" that there should be a plan for the equitable distribution of loans. "
She said "loans that will be granted this time must be different from its predecessors in many ways, the first of distributive justice and away from private that the purpose of the distribution of the loans is to benefit the ordinary citizen favoritism and the opening of economic projects that serve the Iraqi reality. " And it showed Najib said the "big dealers and owners of the many money will not enter into conflict to obtain the loan because of the lack of allocated per project money, and that's good," asking "the need to follow up the recipients of the loans and projects."
She stressed that "the benefits of a few loans, bank, will give 1% the central bank as interest, but the banks will determine the interest on the loan given to citizen ratio and therefore these benefits are easy on the citizen and the benefit of the Central Bank. "
For his part, Chamber of Commerce member of the Baghdad Maitham Yasiri told the "term" that "the Chamber of Commerce phase taking procedures in order to contribute in the development of effective mechanisms to make this initiative effective and successful to reach the beneficiaries of the business owners. "
The Yasiri that "the granting of loans to the owners of small and medium enterprises is an important step," and urged to make the distribution transparent and far-loan procedures for favoritism to reach the beneficiary real to reduce the unemployed and move the market wheel ratios. "
For his part, saw an expert on economic affairs Maitham Laibi "The problem in the Iraqi economy was is poor funding and is not configured private sector warheads big money is capable of investment his province administration himself."
He said coffee in a statement "long" that "this matter was important for the formation of the sector after years in order to lead the economy and the withdrawal of the public sector, due to the weakness of the potential financing of the private sector, so the idea was that the public sector to the private sector and Contractors offers in advance of the projects as a way of funding supported."
He said "The private sector remained dependent on the public sector in funding because of the rents high the Iraqi economy and because of the entry of many Translated, so it has not been able to develop its potential, as well as administrative, political and military reasons, therefore, this problem has accumulated in the budget and remained list did not back down over time".
He stressed Head of the Department of Banking and Financial Sciences at the University of Mustansiriya that "the government is doing to protect their money in this kind of contracts by withholding payments to ensure, that the Ataud the money to the contractor in the absence of its commitment to provide proof of his commitment to progress the implementation of the contract."
He concluded Laibi " The problem that arose from the government side is that the advances which withdrew were not had spotted her money in the budget, especially after the crisis, falling oil prices, which led to the suspension of many projects. "
agreed the Iraqi Central Bank, earlier, to launch trillion dinars for private banks project finance loans, indicating that it was approving instructions regulating the work of guaranteed bank loans companies.
The bank said in a statement the "long" has received a copy of it, "we decided to approval by the Board of the Central Bank meeting on the launch of the sum of (1) trillion dinars for private banks for the purpose of microfinance loans and medium to citizens and approve their own controls. "
The bank said it decided "also approve instructions regulating the work of guaranteed bank loans companies."
The Central Bank of Iraq, in December 21, 2014 it continues to cover all the conversion requirements of cash and selling at the auction, adding that he believes in the importance the private sector and its role in rebuilding Iraq.
[You must be registered and logged in to see this link.]
