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24.08.2011
*****Economic Committee revealed in the Presidency of the Iraqi Government that it will soon develop controls which allow private banks to open credits for investment projects and development up to 4 million dollars after the ceiling was limited to two million dollars.*****
*****The Prime Adviser for Economic Affairs Abdullah al-Husayn Al-Anbuge to free Iraq radio that the decision to lift the roof open bank credit *****aimed at achieving two basic objectives.***** The very first activate the private banking sector and support "if we know that participation in the financing for development process so far does not exceed 3%, depending on expression.
*****The second goal is to stimulate development projects sector investment which is in desperate need of a banking sector capable of ensuring the financing of projects. "*****
It also said Al-Anbuge in this context that the decision to lift the roof open bank credits to $ 4 million will include only the criteria banks, Central Bank of Iraq in terms of "quality performance and high accuracy and speed in completion of tasks and level of customer confidence and capital and other criteria."
Iraqi banks Association welcomed the forthcoming publication of the decision to lift the roof opening credits but by its President Abdul Aziz Hasson believed that "would not be feasible in practice towards revitalization of the private banking sector."
In an interview to radio free Iraq to continue in force the previous resolutions of the Economic Committee chaired by the Government as "a decision to prevent the Government from accepting payments via financial instruments issued by private banks or resolution on the prevention of those services accepting letters of guarantee issued by non-governmental" Bank makes decision leave open funds worth $ 4 million "ineffectual in activating the private banking system".
Meanwhile, the head of the non-State economic information center dargham Muhammad Ali to end second envisaged the adoption of the resolution and of the revitalization of investment in development projects and sectors will be achieved for reasons
"That $ 4 million is only enough to finance projects without medium and will be financed with obtaining the benefits of high domestic private banks to mention that Iraq has no need of this kind and level of projects," according to his opinion.
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*****Economic Committee revealed in the Presidency of the Iraqi Government that it will soon develop controls which allow private banks to open credits for investment projects and development up to 4 million dollars after the ceiling was limited to two million dollars.*****
*****The Prime Adviser for Economic Affairs Abdullah al-Husayn Al-Anbuge to free Iraq radio that the decision to lift the roof open bank credit *****aimed at achieving two basic objectives.***** The very first activate the private banking sector and support "if we know that participation in the financing for development process so far does not exceed 3%, depending on expression.
*****The second goal is to stimulate development projects sector investment which is in desperate need of a banking sector capable of ensuring the financing of projects. "*****
It also said Al-Anbuge in this context that the decision to lift the roof open bank credits to $ 4 million will include only the criteria banks, Central Bank of Iraq in terms of "quality performance and high accuracy and speed in completion of tasks and level of customer confidence and capital and other criteria."
Iraqi banks Association welcomed the forthcoming publication of the decision to lift the roof opening credits but by its President Abdul Aziz Hasson believed that "would not be feasible in practice towards revitalization of the private banking sector."
In an interview to radio free Iraq to continue in force the previous resolutions of the Economic Committee chaired by the Government as "a decision to prevent the Government from accepting payments via financial instruments issued by private banks or resolution on the prevention of those services accepting letters of guarantee issued by non-governmental" Bank makes decision leave open funds worth $ 4 million "ineffectual in activating the private banking system".
Meanwhile, the head of the non-State economic information center dargham Muhammad Ali to end second envisaged the adoption of the resolution and of the revitalization of investment in development projects and sectors will be achieved for reasons
"That $ 4 million is only enough to finance projects without medium and will be financed with obtaining the benefits of high domestic private banks to mention that Iraq has no need of this kind and level of projects," according to his opinion.
[You must be registered and logged in to see this link.]
