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Advisor to the Prime Minister highlights the importance of bank credit in strengthening the economy
May 22, 2024
Baghdad/Iraq Observer
Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, identified three main benefits of bank credit, stressing that
increasing bank lending activity
raises growth rates and
economic well-being. Saleh explained,
“Bank credit is a vital financial tool for providing liquidity and financing economic activity to individuals and companies.” He pointed out
three main benefits of bank credit, which are that it contributes to financing it,
generating job opportunities,
stimulating innovation, and
promoting economic and social growth.
It is linked to an increase in bank savings rates through an increase in bank deposits, as banks provide distinct savings accounts.
It also contributes to
meeting the needs of productive sectors and
financing the purchase of real estate and educational and medical expenses,
which improves the standard of living.
Saleh added that increased lending activity
enhances economic activity and
raises growth rates and prosperity,
provided that it does not conflict with the goals of monetary policy and economic stability.
https://observeriraq.net/مستشار-رئيس-الوزراء-يبرز-أهمية-الائتم/
May 22, 2024
Baghdad/Iraq Observer
Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, identified three main benefits of bank credit, stressing that
increasing bank lending activity
raises growth rates and
economic well-being. Saleh explained,
“Bank credit is a vital financial tool for providing liquidity and financing economic activity to individuals and companies.” He pointed out
three main benefits of bank credit, which are that it contributes to financing it,
generating job opportunities,
stimulating innovation, and
promoting economic and social growth.
It is linked to an increase in bank savings rates through an increase in bank deposits, as banks provide distinct savings accounts.
It also contributes to
meeting the needs of productive sectors and
financing the purchase of real estate and educational and medical expenses,
which improves the standard of living.
Saleh added that increased lending activity
enhances economic activity and
raises growth rates and prosperity,
provided that it does not conflict with the goals of monetary policy and economic stability.
https://observeriraq.net/مستشار-رئيس-الوزراء-يبرز-أهمية-الائتم/
