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Director of the Rasheed Bank shows the mechanism of financing projects Iraqi investors and foreign
Basra (news) .. The head of the Rasheed Bank in Baghdad Kazem Ashour, the funding mechanism for projects Iraqi investors and foreign.
came during his speech at the Economic Conference held under the slogan "cooperate in order to support housing projects for employees" in the presence of the President of the provincial council in Basra and the Basra governor and directors of circles in Basra and Director of the Rasheed Bank and Branch Manager Central Bank in Basra, Chairman of the Economic Development Committee in the province of Basra, and a number of businessmen and Professor of Economics, Head of the business.
and the transfer of reporter Agency (news) by the Director of the Rasheed Bank Kazem Ashour, said at the conference: The Many Iraqi and foreign investors have obtained licenses from the National Investment Commission to increased cost of the project for $ 250 million and investment authorities in the provinces to say about it.
and Ashour: These vacations varied for different kinds of jobs but most of them tended to build residential complexes, cities and big markets "malls" and games, as Rasheed Bank has branches spread in all governorates of Iraq, made many investors from the bank asking for the financing of their projects without known mostly funding opportunities made available by the banking system, the local for each of the Iraqi investors and foreign investors did not have the most only the investment license and the decision of the Provincial Council to allocate land, and the magnitude of the cost of these projects, provides the investor, "the owner of the holiday," the names of many companies from outside Iraq and say they are united to finance the project or its implementation, which led to the complexity of the idea of investment and its practical application, unless the Iraqi investors can obtain credit the local bank at any stage of the implementation of the project and the limits that are commensurate upward with the size of the guarantees provided by the kiss to the banks.
He continued that the foreign investor can not do that, the fact that the investment law, a grant opportunity only 10% of the cost of the project obtained of credit the local banking, has been observed many times that the foreign investor asked this ratio before starting to work, thereby hindering the practice of local banks in the enemies of this funding, even if made to guarantee issued by an international bank supported, and the reason for this is that this investor when he got investment contract calls always get the down payment, and usually that of the pay offered is the first party in this case is the investment authorities in the provinces or paid by the potential beneficiary of the project.
He noted: that Almstmther not be determined if the will is Balthml entirely to the cost of facilities, services associated with for residential complexes, markets, games, schools, .. Etc. Thus, the scene becomes complex with the bank, which purports to enter into financing the project and more what we mean is a commercial bank as a banker good as the investment banks and Islamic banks in Iraq is different from that application ..
He said Kazem Ashour to: Seeing Rasheed Bank in the financing of investment projects divided into two parts: the first section / projects Iraqi investors, as the bank as the son of the local reality knew very well the lack of possibility to spend on the project the average for a very (30%) which in this case will have to request bank financing at the beginning of the project only a few local investors who were able to of that, and here is the issue of cost per salable to the buyer with the importance of determining who is the buyer, if he meant is Mozvaldol Falakna know the level of entry of State employees and if you want it is that there is in practice in Iraq, he got funding for a long time for non- Sabeti income known minima of their income, and multiply these difficulties in the case of annexation of buildings other to this analysis.
He added that in the framework of the foregoing, the Rasheed Bank put the following formulas:
First: - for local investors to bear the cost in the range between (15-30%) of its own money without uploading to project itself as security or any other ...
Second: - The possibility of obtaining (30%) of other potential buyers during the implementation period of the project.
Third: - when it comes to the proportion (60%) of the completion of the project according to the testimony geometric fundamentalism enters the Rasheed Bank funded for the remaining of the project for the following: -
1 - lay hands on the entire project and endorse the right to dispose of the bank in full.
2 - Provide assurances from the outlying areas of the project as possible to be real estate or letters of guarantee bank.
3 - Provide units and residential buildings the other is on the case (60%) completion of the names of the owners subject to the insurance of the bank.
4 - to exceed the bank credit of 30 million dinars for the citizen, the normal and one hundred salary names including not to exceed 50 million dinars for government employee.
5 - For the purpose of broadcast Alatmian for both the investor and the citizen at the beginning of the project, the Rasheed Bank is ready to submit an undertaking under taking vows in which the financing of the project through lending to buyers upon the arrival of the project to the percentage of completion of 60%.
The manager of the Rasheed Bank: that although it has appeared the risk to leave the investor of the project to state the percentage of completion before or After the proportion (60%), wondering: What is the fate of the buyer the right motivation and the right of the bank funded? It will complete the project? Will would satisfy the buyer it or leave a final mechanism, etc. of the elements of danger.
He noted: the Rasheed Bank in such a seminar needs to answer this question by officials and legal specialists in investment organizations in the provinces.
He continued by saying: As the second section / projects of foreign investors : For this issue discusses the circumstances of each project and the investor and the need of the country and to the development of this project. / End / 20. t. u /
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Basra (news) .. The head of the Rasheed Bank in Baghdad Kazem Ashour, the funding mechanism for projects Iraqi investors and foreign.
came during his speech at the Economic Conference held under the slogan "cooperate in order to support housing projects for employees" in the presence of the President of the provincial council in Basra and the Basra governor and directors of circles in Basra and Director of the Rasheed Bank and Branch Manager Central Bank in Basra, Chairman of the Economic Development Committee in the province of Basra, and a number of businessmen and Professor of Economics, Head of the business.
and the transfer of reporter Agency (news) by the Director of the Rasheed Bank Kazem Ashour, said at the conference: The Many Iraqi and foreign investors have obtained licenses from the National Investment Commission to increased cost of the project for $ 250 million and investment authorities in the provinces to say about it.
and Ashour: These vacations varied for different kinds of jobs but most of them tended to build residential complexes, cities and big markets "malls" and games, as Rasheed Bank has branches spread in all governorates of Iraq, made many investors from the bank asking for the financing of their projects without known mostly funding opportunities made available by the banking system, the local for each of the Iraqi investors and foreign investors did not have the most only the investment license and the decision of the Provincial Council to allocate land, and the magnitude of the cost of these projects, provides the investor, "the owner of the holiday," the names of many companies from outside Iraq and say they are united to finance the project or its implementation, which led to the complexity of the idea of investment and its practical application, unless the Iraqi investors can obtain credit the local bank at any stage of the implementation of the project and the limits that are commensurate upward with the size of the guarantees provided by the kiss to the banks.
He continued that the foreign investor can not do that, the fact that the investment law, a grant opportunity only 10% of the cost of the project obtained of credit the local banking, has been observed many times that the foreign investor asked this ratio before starting to work, thereby hindering the practice of local banks in the enemies of this funding, even if made to guarantee issued by an international bank supported, and the reason for this is that this investor when he got investment contract calls always get the down payment, and usually that of the pay offered is the first party in this case is the investment authorities in the provinces or paid by the potential beneficiary of the project.
He noted: that Almstmther not be determined if the will is Balthml entirely to the cost of facilities, services associated with for residential complexes, markets, games, schools, .. Etc. Thus, the scene becomes complex with the bank, which purports to enter into financing the project and more what we mean is a commercial bank as a banker good as the investment banks and Islamic banks in Iraq is different from that application ..
He said Kazem Ashour to: Seeing Rasheed Bank in the financing of investment projects divided into two parts: the first section / projects Iraqi investors, as the bank as the son of the local reality knew very well the lack of possibility to spend on the project the average for a very (30%) which in this case will have to request bank financing at the beginning of the project only a few local investors who were able to of that, and here is the issue of cost per salable to the buyer with the importance of determining who is the buyer, if he meant is Mozvaldol Falakna know the level of entry of State employees and if you want it is that there is in practice in Iraq, he got funding for a long time for non- Sabeti income known minima of their income, and multiply these difficulties in the case of annexation of buildings other to this analysis.
He added that in the framework of the foregoing, the Rasheed Bank put the following formulas:
First: - for local investors to bear the cost in the range between (15-30%) of its own money without uploading to project itself as security or any other ...
Second: - The possibility of obtaining (30%) of other potential buyers during the implementation period of the project.
Third: - when it comes to the proportion (60%) of the completion of the project according to the testimony geometric fundamentalism enters the Rasheed Bank funded for the remaining of the project for the following: -
1 - lay hands on the entire project and endorse the right to dispose of the bank in full.
2 - Provide assurances from the outlying areas of the project as possible to be real estate or letters of guarantee bank.
3 - Provide units and residential buildings the other is on the case (60%) completion of the names of the owners subject to the insurance of the bank.
4 - to exceed the bank credit of 30 million dinars for the citizen, the normal and one hundred salary names including not to exceed 50 million dinars for government employee.
5 - For the purpose of broadcast Alatmian for both the investor and the citizen at the beginning of the project, the Rasheed Bank is ready to submit an undertaking under taking vows in which the financing of the project through lending to buyers upon the arrival of the project to the percentage of completion of 60%.
The manager of the Rasheed Bank: that although it has appeared the risk to leave the investor of the project to state the percentage of completion before or After the proportion (60%), wondering: What is the fate of the buyer the right motivation and the right of the bank funded? It will complete the project? Will would satisfy the buyer it or leave a final mechanism, etc. of the elements of danger.
He noted: the Rasheed Bank in such a seminar needs to answer this question by officials and legal specialists in investment organizations in the provinces.
He continued by saying: As the second section / projects of foreign investors : For this issue discusses the circumstances of each project and the investor and the need of the country and to the development of this project. / End / 20. t. u /
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