Feasibility of Central loans

8/26/2015 0:00

Mohammed Sharif Abu Mayssam
in previous unheard banking system in the country after 2003, the Central Bank of the oldest on the granting of loans to banks specialized by about six trillion dinars to stimulate economic activities in the real sectors and create more job opportunities ..

The move came after long years of dispute between the two previous administrations of the bank and the federal government on the impact of the central rejected for a loan financed the purchase and installation of power stations .. It was rejected former directors of a bank based on what was in the Central Bank Law No. 56 of 2004, which does not allow government intervention in the work of the bank, on the grounds that granting the loan the government will open the floodgates for the granting of other loans subsequent governments which in financial file management may fail, which means further interference in the work of the official bank for the stability of monetary policy and the further threat of the cash reserve, which does not allow the central bank law is used only in cases of disasters that may exposed the country -Your allowed God -.

Based on the above, some wonder about the meaning of the disaster in the definitions exhibition agreed about the situation of deterioration in the country from a financial deficit and the war on terrorism and the decline in economic sectors? .. Feinsb disagreement about the reasons that stood behind the case and the results that we live the details, they are in the end is not a natural disaster, because it is of policy-making and financial mismanagement on the part of the other side are due to external wills made ​​us the security deterioration and spent it a lot and came Bkhvavi the dark in order to destroy the country's economy .. Therefore, we urgently need to tame extremism In economic vision.

We believe that the new central administration launched from this perception, in order to participate in the modified courses of action to build a country where all sides coalesce to search for exits toward economic development and out of the clinging generally to review knot .. came, targeting small and medium enterprises which these loans It can form a very important base for real sectors of the actor, as the experience of such projects stand on their foundations prestigious global economics, as in the Canadian experience and the experience of some eastern countries of Asia.

However, the devil seeks to cause harm between the mechanisms that will be under the granting of these loans from the specialized banks details, in under the rules and instructions of the bureaucracy and an administrative suffers from all accumulations of previous stages.

Here's the real question «Can you these loans to achieve their objectives plotted and planned and reach the targeted them to quickly rotate the economy?» .. and how the facilities that can offer borrowers under laws and instructions window since the tyranny of time, and especially with regard to Avaidah land that can be held by agricultural projects, specifically in the southern provinces?

On the other hand, such loans need to control working with new mechanisms to prevent go these loans to non objectives ..

Accordingly, the administration The central bank, which has taken this courageous decision, which will bear its consequences in the event of failure - are not allowed to Allah, it has to monitor and follow up these funds away from the formation of committees with donors for the loan, and using the style of the sudden disclosure, and commits donors to loan transparent on the websites, and have a decision to increase support for successful projects, and otherwise, these funds will be doomed fate money that preceded it.