Central is expected to stimulate economy through loans and invitations to remove 9/20
Central is expected to stimulate the economy through loans and invitations to remove them from "corruption mafias"
Counting the Central Bank of Iraq, on Sunday, that the granting of small, medium and large enterprise loans will develop the national economy, and emphasized the banks that they would re-citizens the confidence, as called expert to facilitate the task of borrowers through the mechanisms of "modern and flexible" far from "quotas" and mafias "corruption", criticized Last divided being "did not take into account" the country's needs and priorities of citizens. The governor of the Central Bank on the Keywords in an interview to the (long-Presse), "The bank went to implement two projects to support the banking sector through the financing of five trillion dinars for the implementation of small, medium and large projects," noting that those "loans will activate certainly the industrial, agricultural and real estate sectors, and housing fund local market and revive the economy and development. "
Keywords and added, that "the central bank set up a committee in cooperation with the concerned parties, such as the Ministry of Finance and the Office of Financial Supervision, to monitor the disbursement of loans and projects to be implemented through them, and serious about her studies away from the pressure."
Meanwhile, a source at the Industrial Bank, said that "the amount is not yet up to the bank despite offering dozens of citizens, various industrial projects," noting that "the bank form an ad hoc committee to follow up on these projects, study and classified according to the primary in support of the national product and reduces import."
The source, who requested anonymity, said in an interview to the (long-Presse), "The delay is a result of the study of how to apply the mechanisms and selection of projects," pointing out that such "loans can activate the movement of the industrial sector."
For his part, Managing Director of the Bank Union, Aqeel trouble maker, in an interview to the (long-Presse), "The bank has created mechanisms that will be followed for the disbursement of the loans," noting that "the bank will lend citizens and then head to the central bank for amounts".
He expected trouble maker, to "contribute to such loans by moving the market and re-citizens' confidence in banks, as well as private sector development and make it a contender for the year projects especially in light of the financial crisis experienced by the country."
In a related development, said financial expert Fawzi grace, in an interview to the (long-Presse), said that "five trillion dinars split on sectoral banks was not fair," noting that the central bank allocated 33 percent of the amount of industrial bank and the same for agriculture, and 17 percent for each of the bank real estate and housing fund. "
He said a blessing, that "the division did not take into account the needs of Iraq because the housing of the priorities of the Iraqi citizen, especially that the concerned authorities failed to fill the shortfall in it," returned to "customize accounted for 33 percent of the loans to the Agricultural Bank is an unfair against other sectoral banks that sector Mall large estimated by previous governments, including the agricultural initiative, as opposed to industrial real estate and banks. "
He suggested financial expert, that "are those loans in the form of initial equipment instead of distributing Kmbalg banks sector, such as peasants and farmers mechanisms or Greenhouses processing, or factories Bmkain sophisticated processing equipment," expressing fears of "potential misuse some use of these loans and convert them for personal benefits far from the national market and product support. "
In turn, demanded expert Mohammad Farhad, the need to "keep the beneficiaries and mafias projects for those loans through the formation of technical committees and professional are not subject to quotas partisan and sectarian, to monitor the disbursement mechanisms and almost guaranteed to achieve its objectives with the support of the private sector and the elimination of unemployment and reduce imports of random consumer goods."
He warned Farhad, said in an interview to the (long-Presse) from "the exploitation of the project by the mafias of corruption or thieves policy for their own interest and the interest of their parties and blocs, as happened in previous development projects", calling on the government and private banks to "the application of modern and sophisticated mechanisms to reduce the standard routine has to be practical Easy and flexible lending to the citizen. "
On the other hand saw the economic and investment commission in Parliament, that such loans "will contribute to the development of the national economy and moving the market and provide a great working hands, which requires investors to provide raw materials for the projects."
The head of the committee, Jawad al-Bolani, said in an interview to the (long-Presse), "The move will reflect the positive nature of projects to investors and makes the Iraqi market and promising them".
The approved cell governmental crisis, headed by the Prime Minister, Haider al-Abadi, in (24 August 2015), lending funded by the Central Bank of Iraq program in the amount of five trillion dinars, distributed by 33% to agricultural and industrial bank and 17 for each of the Land Bank and the Housing Fund, as well as Central Bank financing of private banks in the amount trillion dinars for the implementation of small and medium projects.