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Abadi has extensive plan to carry out economic reforms in his government
Tuesday 10.13.2015 1:01
Baghdad news / Ghani Qahtan Saidi,
Chief Economist of nice Abdul Salem Ugaili the need to involve the sector of the private banking in the development of the Iraqi economy to be a government program unleashed by Prime Minister Haider al-Abadi on forming a government, which stressed that the private banking sector one of the important pillars of the evolution of the economy in Iraq ". Ugaili said in a statement singled out by the Baghdad news on Monday, that" after receipt of Haider al-Abadi tasks as prime minister he had a broad plan for the work of economic reforms in his government which includes the involvement of the private sector as well as private banking sector to be one of the pillars of the advancement of the Iraqi economy, and there is a point a very important need to be addressed, which provide convenient banking climate to attract investment to Iraq and who must be qualified to accommodate foreign and domestic capital. "He added that the private banking sector curb this moment is the sector backward not yet up to keep abreast of developments in banks in countries the developed world and also developing countries, severe and, unfortunately, Iraq today lacks the scientific and technological development in the banking sector and in particular the private banks. "He said Allie," The rivalries between political blocs, as well as the absence of professional competencies for a lot of sectors, including the banking sector, which is suffering of neglect, underdevelopment and lack of subsequent possibility of passengers evolving global economic sectors. "Between," The desire Abadi in the involvement of the private banking sector to develop the economy came Bmahlha which is very valid for the purpose of the transfer of Iraq from case to case and which can contribute Bathart all energies that exists in Iraq and which could make use of them in order to build a prosperous economy based on market economy and this economy depends certainly on the participation of the private sector, which limit this moment needs a lot of issuing legislation for the purpose of development of the joints of the private sector and among these things is the private banking sector. "He explained that" financial management which runs Iraq so this moment is not able to keep up with the trend of Prime Minister in the reform of the Iraqi economy by relying on the private banking sector. "For his part, the economic expert on behalf of Jamil Antoine, said that" the involvement of the private banking sector in the development of the Iraqi economy will have an effect is clear and the great in the development of this vital sector, as called by the prime minister in his government. "He added Antoine in a statement singled out the" Baghdad News ", on Monday, that" the deterioration of the private banking sector in Iraq is the result of the loss of political stability in Iraq prior to receiving the Prime Minister Haider Abadi of the reins of government, as there is a wide economic reforms process by putting it Abadi, a great program, and this economic program includes the development of the private sector and through private banks. "He noted, that" there are soft loans by the Central Bank of Iraq to support development banks, these loans which will be the ones trillion and a half trillion dinars to banks, the private sector, and therefore are these banks to give loans to the private sector and small and medium-sized projects, and these projects must be submitted a feasibility study taught by private sector banks and is then grants according to the mechanics and controls certain. "Among the expert "There are other loans also are granted by the central bank, estimated at five trillion dinars is give it to the government development banks, which are (industrial, agricultural, real estate and housing), and these loans are financed by industrialists, farmers and investors for the purpose of advancement of sectors productivity and thus promote the economic sector, according to the vision of the government program unleashed by Prime Minister moment formation of the government. "
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