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Microfinance and its role in development (Dr. Acer Yassin)
8/9/2015 0:00
Dr. Acer Yassin
facing small businesses, particularly in developing countries, including Iraq, a lot of the difficulties of self and external challenges, and perhaps the most complex and the most difficult problem faced by these projects is the financial and financing problem, and that prevent the performance of their role is required to achieve balanced economic development and enable them to take the range required in the recruitment of hands and working to address some of the structural imbalances that the Iraqi economy suffered because of its possibility of employing small volumes in finding productive gatherings competitive working to deepen the added value achieved for such projects. advantage
that the importance that can be played by small project derived from its role in attracting and mobilizing a large proportion of family savings to low-income and non-governmental associations and turn them into real jobs as requiring a capital investment low for all jobs can be saved and that the various advantages enjoyed by the small size of investment projects and the consequent of the simplicity of the regulatory nature of the form in which dispense with some of the administrative complexities suffered by the institutions larger.
As characterized by low degree of risk in such projects for high flexibility which is characterized by the interaction with the environment variables investment.
The special nature of Iraqi society and the suffering in the current phase, requires us to employ this type of projects for the purpose of enabling small projects Iraqi women that we find today enable suffer a lot of the difficulties of life in the absence of a breadwinner her or forced displace, and thus re-activate its role in economic activities by working at times that fit with her and needs to make it a source of strength for the community and out of the context of societal burden that found itself live it.
Also, these small projects do not require the high cost of services and do not require complex networks of roads and transport, water and electricity, which we find very appropriate current reality of Iraq.
There is no doubt that small projects, whether new or existing, you need to adequate funding so that it can succeed, and sources of funding vary between internal financing through the employment of personal savings to the owner of the project or government funding through the contribution by some state-owned commercial banks and relevant ministries such as the ministries of industry, agriculture, labor and social affairs and through some specialized banks affiliate.
These sources remain unable to fulfill the needs of small and medium-sized enterprises if they are to be integrated network are on sustainability be, but the existence of sources of funding have linked sector Ahli or investment banks.
It is often the obstacle to obtaining adequate financing is to provide the necessary guarantees required by banks commercial or commercial enterprises, in addition to commercial banks tendencies to lend to large projects to facilitate the recovery of its loans and reduce administrative costs associated with the task of lending.
that the suffering of the Iraqi economy at the current stage, requires the Iraqi decision maker serious thought in the recruitment of these small and medium enterprises form the optimal geographical distribution in line with the new community demographics imposed by the security events by playing the role of guarantor guarantor for commercial banks and bear part of the financial burdens on those banks directed to support these projects, while maintaining the delicate balance with the terms of the profitability required of them, which can be in coordination with some government banks specialist when what was at the last base of the data required for the pilot projects in their sectors.
that a such an endeavor to hire scarce resources and diminishing in the Iraqi budget and out of the vicious circle of the many initiatives that have gone in earlier stages to the stomachs of large whales It does not mean the investment risk endeavor balanced and moved out of the loop economy of Iraq. This recruitment will be through the government to provide part of the required guarantees of private financial institutions as the biggest sponsor of the interests of the Iraqi economy and bear part of the burden of financial risk without prejudice to the frameworks of market mechanisms in identifying projects chosen by the Iraqi individual. This delicate balance requires a governmental institutional capacity to be posing to a large extent the mentality of the private sector, which requires an active role of the Iraqi Federation of sectoral being today represent a link between what is government and what is private.
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8/9/2015 0:00
Dr. Acer Yassin
facing small businesses, particularly in developing countries, including Iraq, a lot of the difficulties of self and external challenges, and perhaps the most complex and the most difficult problem faced by these projects is the financial and financing problem, and that prevent the performance of their role is required to achieve balanced economic development and enable them to take the range required in the recruitment of hands and working to address some of the structural imbalances that the Iraqi economy suffered because of its possibility of employing small volumes in finding productive gatherings competitive working to deepen the added value achieved for such projects. advantage
that the importance that can be played by small project derived from its role in attracting and mobilizing a large proportion of family savings to low-income and non-governmental associations and turn them into real jobs as requiring a capital investment low for all jobs can be saved and that the various advantages enjoyed by the small size of investment projects and the consequent of the simplicity of the regulatory nature of the form in which dispense with some of the administrative complexities suffered by the institutions larger.
As characterized by low degree of risk in such projects for high flexibility which is characterized by the interaction with the environment variables investment.
The special nature of Iraqi society and the suffering in the current phase, requires us to employ this type of projects for the purpose of enabling small projects Iraqi women that we find today enable suffer a lot of the difficulties of life in the absence of a breadwinner her or forced displace, and thus re-activate its role in economic activities by working at times that fit with her and needs to make it a source of strength for the community and out of the context of societal burden that found itself live it.
Also, these small projects do not require the high cost of services and do not require complex networks of roads and transport, water and electricity, which we find very appropriate current reality of Iraq.
There is no doubt that small projects, whether new or existing, you need to adequate funding so that it can succeed, and sources of funding vary between internal financing through the employment of personal savings to the owner of the project or government funding through the contribution by some state-owned commercial banks and relevant ministries such as the ministries of industry, agriculture, labor and social affairs and through some specialized banks affiliate.
These sources remain unable to fulfill the needs of small and medium-sized enterprises if they are to be integrated network are on sustainability be, but the existence of sources of funding have linked sector Ahli or investment banks.
It is often the obstacle to obtaining adequate financing is to provide the necessary guarantees required by banks commercial or commercial enterprises, in addition to commercial banks tendencies to lend to large projects to facilitate the recovery of its loans and reduce administrative costs associated with the task of lending.
that the suffering of the Iraqi economy at the current stage, requires the Iraqi decision maker serious thought in the recruitment of these small and medium enterprises form the optimal geographical distribution in line with the new community demographics imposed by the security events by playing the role of guarantor guarantor for commercial banks and bear part of the financial burdens on those banks directed to support these projects, while maintaining the delicate balance with the terms of the profitability required of them, which can be in coordination with some government banks specialist when what was at the last base of the data required for the pilot projects in their sectors.
that a such an endeavor to hire scarce resources and diminishing in the Iraqi budget and out of the vicious circle of the many initiatives that have gone in earlier stages to the stomachs of large whales It does not mean the investment risk endeavor balanced and moved out of the loop economy of Iraq. This recruitment will be through the government to provide part of the required guarantees of private financial institutions as the biggest sponsor of the interests of the Iraqi economy and bear part of the burden of financial risk without prejudice to the frameworks of market mechanisms in identifying projects chosen by the Iraqi individual. This delicate balance requires a governmental institutional capacity to be posing to a large extent the mentality of the private sector, which requires an active role of the Iraqi Federation of sectoral being today represent a link between what is government and what is private.
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