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CBI calls for entrepreneurs in industry and agriculture to benefit from the lending program worth six trillion dinars
September 11, 2015
BAGHDAD - «Quds Al-Arabi» CBI called on citizens of entrepreneurs and concerned industry and agriculture to benefit from the lending program launched, amid fears of a leak of corruption to these loans.
The central bank said in a statement «Bank began the largest funding for lending programs in Iraq launched , the first of which belong to finance industrial and agricultural sectors, housing and the amount of five trillion Iraqi dinars lend through specialist agricultural banks, industrial, real estate and housing fund. » He added that «the second of which belong to private banks in the amount trillion Iraqi dinars in support of small and medium-sized projects», indicating that «the goal of these programs is to stimulate the Iraqi economy and provide real opportunities to maximize the country's resources to stimulate the private sector and reduce unemployment».
He called the bank «citizens of owners small and medium enterprises and stakeholders from the industrial and agricultural and specialists to review the banks mentioned to take advantage of those programs, calling on banks «completion of transactions its own administrative and financial procedures as soon as the requisite precision while ensuring speed access those funds to beneficiaries and implement their own projects».
He said Bank initiative «a good step »for the recovery of the economic situation and liquidity, he confirmed they come to avoid foreign loans.
The «crisis cell» government had approved last month lending program announced by the central bank as part of a package of reform resolutions recently adopted by the government in the wake of the demonstrations and large-demanded reform and the fight against corruption. Despite the satisfaction of business owners for this program, but it appeared and warnings fears of a possible leak of corruption to the lending program.
According to Dr. Siham full, expert in market research center at the University of Baghdad, for »Quds Al-Arabi» that «any loan goes to the non-goal does not achieve the goal of the issued », fearing to be large loans, which the central bank launched by a cover for operations corruption and wide.
She Dr. to be declared for the current loans aim is to stimulate the economy, while there are fears of the possibility of a certain group of whales take advantage of corruption of them.
he said in this regard previous experience of the government of Nuri al-Maliki when he was launching what I call «the agricultural initiative» that have been allocated billions in fake or failed projects, and the cover for the process of a major corruption where I went funds to senior corrupt pockets without achieving any economic benefit to the country.
and still peasants organize demonstrations to demand regardless dues from the sale of their agricultural products to the government without interest.
According to an economic expert said the bad investment for the huge amounts of loans will have a negative impact on the Iraqi economy, including rising inflation and declining purchasing power of citizens and the rise of the dollar exchange rate. He also expressed doubts that the control of committees of the House of Representatives be useless in preventing corruption.
and called for a real investment loans for the development of agricultural and industrial, commercial and residential guaranteed and productive, and under real control projects to make use of them in the economic sector, and the absorption of the workforce idle plan. She pointed to the existence of many Iraqi products that are suitable for investment and export such as dates, fruits, building materials and other manufacturing.
And Odmn same context warned MP Adnan al-Janabi, a leader in the national coalition led by Ayad Allawi, who go five billions of dollars the central bank wants to lend to whales in the case did not give the to small businesses.
Banking sources said the Iraqi government on the other hand she will begin to promote the campaign for the first international issuance of financial bonds in nine years to collect six billion dollars, as it seeks to reduce the large deficit in the budget because of falling oil prices and the war against militants organization «Islamic State».
The Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani announced that «industrial, agricultural and residential lending mechanism adopted by the crisis cell in the Iraqi government shift the task of the Iraqi economy», indicating that «these loans will develop the national industry of agricultural and residential sector and opening up new prospects for the national economy». Bolani He pointed out that «there are governmental and parliamentary committees will monitor the disbursement of these loans and projects implemented on the basis».
Mustafa al-Obeidi
[You must be registered and logged in to see this link.]
September 11, 2015
BAGHDAD - «Quds Al-Arabi» CBI called on citizens of entrepreneurs and concerned industry and agriculture to benefit from the lending program launched, amid fears of a leak of corruption to these loans.
The central bank said in a statement «Bank began the largest funding for lending programs in Iraq launched , the first of which belong to finance industrial and agricultural sectors, housing and the amount of five trillion Iraqi dinars lend through specialist agricultural banks, industrial, real estate and housing fund. » He added that «the second of which belong to private banks in the amount trillion Iraqi dinars in support of small and medium-sized projects», indicating that «the goal of these programs is to stimulate the Iraqi economy and provide real opportunities to maximize the country's resources to stimulate the private sector and reduce unemployment».
He called the bank «citizens of owners small and medium enterprises and stakeholders from the industrial and agricultural and specialists to review the banks mentioned to take advantage of those programs, calling on banks «completion of transactions its own administrative and financial procedures as soon as the requisite precision while ensuring speed access those funds to beneficiaries and implement their own projects».
He said Bank initiative «a good step »for the recovery of the economic situation and liquidity, he confirmed they come to avoid foreign loans.
The «crisis cell» government had approved last month lending program announced by the central bank as part of a package of reform resolutions recently adopted by the government in the wake of the demonstrations and large-demanded reform and the fight against corruption. Despite the satisfaction of business owners for this program, but it appeared and warnings fears of a possible leak of corruption to the lending program.
According to Dr. Siham full, expert in market research center at the University of Baghdad, for »Quds Al-Arabi» that «any loan goes to the non-goal does not achieve the goal of the issued », fearing to be large loans, which the central bank launched by a cover for operations corruption and wide.
She Dr. to be declared for the current loans aim is to stimulate the economy, while there are fears of the possibility of a certain group of whales take advantage of corruption of them.
he said in this regard previous experience of the government of Nuri al-Maliki when he was launching what I call «the agricultural initiative» that have been allocated billions in fake or failed projects, and the cover for the process of a major corruption where I went funds to senior corrupt pockets without achieving any economic benefit to the country.
and still peasants organize demonstrations to demand regardless dues from the sale of their agricultural products to the government without interest.
According to an economic expert said the bad investment for the huge amounts of loans will have a negative impact on the Iraqi economy, including rising inflation and declining purchasing power of citizens and the rise of the dollar exchange rate. He also expressed doubts that the control of committees of the House of Representatives be useless in preventing corruption.
and called for a real investment loans for the development of agricultural and industrial, commercial and residential guaranteed and productive, and under real control projects to make use of them in the economic sector, and the absorption of the workforce idle plan. She pointed to the existence of many Iraqi products that are suitable for investment and export such as dates, fruits, building materials and other manufacturing.
And Odmn same context warned MP Adnan al-Janabi, a leader in the national coalition led by Ayad Allawi, who go five billions of dollars the central bank wants to lend to whales in the case did not give the to small businesses.
Banking sources said the Iraqi government on the other hand she will begin to promote the campaign for the first international issuance of financial bonds in nine years to collect six billion dollars, as it seeks to reduce the large deficit in the budget because of falling oil prices and the war against militants organization «Islamic State».
The Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani announced that «industrial, agricultural and residential lending mechanism adopted by the crisis cell in the Iraqi government shift the task of the Iraqi economy», indicating that «these loans will develop the national industry of agricultural and residential sector and opening up new prospects for the national economy». Bolani He pointed out that «there are governmental and parliamentary committees will monitor the disbursement of these loans and projects implemented on the basis».
Mustafa al-Obeidi
[You must be registered and logged in to see this link.]
