In light of economic and security challenges of small and medium enterprises loans Where to?

Write: Fares al-Shammari supervisor of a series of measures adopted by the Central Bank of Iraq in the past two months to move the Iraqi economy by declaring the establishment of National Finance Fund to lend to small and medium enterprises .. and objectives desired to achieve development and socio-economic support to small and medium-sized economies and operation of premium skills workforce .. !! Observers therefore finds disparity in the views of the experts the usefulness of these measures, given the nature of the security and economic challenges and a lack of liquidity in the banks towards the implementation and launch those loans in an attempt to move the economic sectors at present .. !! while money and economists emphasize the usefulness market movement and activate the human capacity incarcerated more than one financial institution to ensure the serious implementation of the loan in accordance with the international experiences confirmed its success in difficult circumstances ..! fruitful cooperation between the Central Bank and the Association of Banks * and about the importance and details of the central bank's decision to launch an amount (trillion) dinars to lend to private sector projects through the private banks .. suspended head of the Iraqi private banks association meek ​​Handal, saying: current stage requires concerted efforts to promote the economic and financial reality of the country and mitigate the impact of crises and shocks that beset the developing economies, including Iraq .. !!
then sees that the witness of the private banking sector, a large and significant development after that was able Association settle things with the new Central Bank on the road to a fruitful and constructive cooperation of cemented financial situation and strengthen the role of the banking sector and its contribution to development. * Handal counting the central bank's decision to launch the $ (trillion) dinars lending .. is a first experience with the need for the role of a supportive development .. and description the relationship between the Central Bank and the Association as the best way to restore confidence in banks by the public on the one hand and raise its reputation among international banks including reflected on the development of the banking performance, on the other hand, also pointed to other supportive measures concerning the lagging banks and research the possibility of assistance and advancement again to her husband in march banking business after the reform would .. !! He expressed President of the Association expressed confidence that private banks will be able to deal with this initiative and what lead to the success of its goals in providing job opportunities for the unemployed and provide products small, medium and local industries contribute in supplying the market. * With regard to the date of initiation the release and the granting of loans replied Handal saying: the committees completed the study a number of applications and has approved and called on banks to receive orders for the consideration and decision in lending soon .. the implementation mechanism of loans with private banks * to clarify this aspect, said the Central Bank's board member Majid picture, saying: SME loans launched the beginning of the month of July the past by private banks which provided her the central bank with the amount of loans that will be given to entrepreneurs with the announcement of instructions to be applied and higher loan given is 50 million dinars and the duration of repayment of the loan three Sentuat It is possible to extend the repayment period to 4 years. .. !! and he said, adding the central bank has interest rate of 7 per thousand and the Department of bail 8 per thousand and the payment and give benefits organized by the private banks, which in turn are determined by the beneficiary of this Alkarohd and the person who deserves the receipt of the loan. and see the picture .. that these loans goal is economic development and hoped that contributes a significant movement in the economy, which has suffered from the recession as a result of lower oil prices and the impact of the Iraqi budget and landed heavily .. !! * in a press statement earlier called for economic affairs adviser in the Prime Minister Dr. Abdul Hussain Al-Anbuge to establish the financing of small and medium enterprises and private enterprises Fund least 20 million dinars .. we have added 12 MFI deployed in Iraq could open special accounts with the State Bank on to deal with this fund exclusively for the purpose of making use of his money and is enhanced accounts monthly amounts according to notices conversion of the Fund's account to the account of the institutions by order of the central bank. . it is also working on lending management through modern systems according to international standards by international auditing institutions known. feasibility of loans start to rescue the economy * loans are an important step to revive the economy, especially that he was suffering from a deep recession already suffered, especially with suffering from a lack of liquidity which suffers State of them .. !! this point of view an economic expert peace Samim added it we need to do to pump shipment operation to rescue the Iraqi economy .. and release of these loans to small and economic projects is an initiative to give the shipment to revive the economy and hoped to contribute to moving the wheel of the economy. But this attempt to restore economic life of a new Iraqi market through activation process joints of the economy as well as the revival of effective demand in the market. Loans This is just a small seed of success can not be relied upon heavily to restore the economy .. !! * The small and medium enterprises in most of the experiences of developed countries Stone the foundation in the development of large industries, according to supportive laws to protect the national product and of funding and guidance, protection and training sources to raise the technical aspects of the production, quality, quality and prevent dumping commodity market of poor and cheap products .. Mention may be made ​​of the experience of the Japanese in encouraging small and medium-sized enterprises and provide legislative and Lease strict cover and promoting the export of its products abroad. In this regard wrote an expert in economic affairs Adel Abdul Zahra about the advantages of the success of the Japanese experience in supplying the national economy MacKay referred: Japan girl renaissance industrial certified primarily on small and medium enterprises was for these projects its role in reducing the unemployment rate as Japan embarked private facilities law small, medium and succeeded to eliminate the obstacles faced with organizing the exemptions from taxes, fees and raise the level of technology used in these projects and her suffering to market their products and to encourage large-scale projects on the integration with it .. and these facilities operate through frameworks institutional provide them with licenses and provide them with assistance and technical advisory and financing expertise. . especially of policies and programs to promote and develop small and medium enterprises sector through financing through commercial banks and bodies of government funding and system loan guarantee .. with providing technical support and extension services and training programs in management and modern services and technology .. and focused on the Japanese government to marketing and the promotion of these projects on invasion International markets its products through banks and conduct negotiations on its behalf in the export and import of raw materials and production requirements agreements ..! 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