Loans are interested in demanding protection from the corrupt and the extension of the repayment period

September 14, 2015 19:35

Baghdad / follow-up Zora:
A number of participants in the first workshop for the implementation of economic reforms in Iraq, launched by the Prime Minister, under the slogan (activation project lending to sectors of industry, agriculture and housing) measures the need to protect the money from the corrupt, pointing out that the success of this project is to protect the uncrowned Local and consumer protection, while calling for the extension of the repayment period.

The financial committee member Majda al-Tamimi that the reactivation of project lending to sectors of industry, agriculture and housing measures through the use of financial Balaanaat the central bank in the financing of these loans in the amount of six trillion dinars will give a great opportunity any revive the Iraqi economy and rising citizen's income through projects that will be funded these loans. Warning of the impact in the previous mistakes on this exchange.

It called for the protection of the money from the corrupt who Astt her for the purpose of acquisition early. Certain we spotted earlier through committees have been formed have spoken of loans to non-eligible real through the provision of guarantees is real.

She stressed the need to tighten controls and to be effective and transparent by requiring the priorities of the follow-up of these loans and how they were given Wayne Stal this money until you are on the right track.

The The general manager of the version in the Iraqi Central Bank Ahsan Yasiri loans distribution mechanism will depend on the two initiatives, the first (one initiative trillion Iraqi dinars) and the second (five trillion Iraqi dinars initiative). Indicating that the monetary authority in Iraq is for the first time to enter the real sector and the intervention to support the banking sector to lend to sectors of industrial, agricultural and housing sectors.

And: This initiative if it considered her upbeat corner was her control of her started procedures and chock her like border control and adjust the activation of a quality control and activation of product protection and consumer protection will be given a major boost to the Iraqi economy, the fact that this amount will double run through the rest of the other chock sectors including the construction industry and the owners of crafts, workshops and the unemployed.

He said all sectors of the Iraqi people will be covered by this initiative, noting that the loan Small will include one million dinars to 50 million dinars. And large amounts of up to 500 million dinars. Stressing that this initiative will stimulate the Iraqi economy.
As director general of the Housing Fund demanded cancellation of the interest rate, amounting to 4% the fact that these loans would be contrary to the work of the Fund, which works to grant interest-free loans since its inception until now.

The Director General of the Fund under the Ministry of Construction and Housing Burhan Al-Bassam we count to walk in the same previous pace with the legalization process of exchange and without the borrower lending benefits through system and new mechanism through the signing of a contract duration of five years and an interest rate of 4%.

He explained that identifying this interest will be difficult for the borrower to bring guarantor guarantor least his salary to one million and 200 thousand dinars, In contrast to our loans require that you pay the sponsor of at least 400 000 dinars, and he has to reimburse the beneficiary 200 000 dinars per month and over 15 years, while according to this new mechanism would let loose a period of five years will necessitate the borrower to pay 600 000 dinars a month, will be in addition to the salary of the sponsor 400 Alv 1.2 million dinars.

The Director General of the Industrial Bank Kazem fistula stressed the need for border control and the imposition of taxes on imported goods in order to protect local product and consumer protection. Indicating that the success of this project is by creating competition between domestic and imported product to do after the application of customs tariffs by imposing fees on imported goods and thus there will be protection for domestic product and consumer protection.