Parliament criticizes the financial disbursement mechanism

2212 2015
Finance Committee in the House of Representatives approved the foot mechanism to provide loans to small and medium-sized enterprises, while private banks association attributed it to the mechanism drawn by its central bank.

The committee member said Masood Haider Rustam, the morning's, that «the Commission held a meeting with Governor of the Central Bank on the Keywords, who welcomed the presence of the Commission and its presence within the committee for small and medium loans meetings in the Central Bank» .ooqr that the mechanism for providing old loans, indicating that the Committee discussed this topic with the governor, noting that this property is affected significantly in the payment of such loans and activated smoothly and quickly to beneficiaries, stressing that the Committee will meet again with the governor to discuss those Alalah.ooodh MP said the central bank and through his teachings is trying to avoid the subject of nepotism and clientelism in granting such loans to eligible applicants , noting that these principles can should go with money to private groups and borne turn out Alarac.oohad Rustam transparency of the central bank to declare the names and companies that matured loans and the amounts granted to them and guarantees provided by them, stressing that the Finance Committee is following the mechanism of the disbursement of loans and their beneficiaries carefully .oaattabr member of the Finance Committee These loans «a good step to support small and medium enterprises, and to be an engine actor to revitalize the Iraqi economy at home». For his part, Executive Director of the Association of private banks to Tariq vacationer, the central bank said issued two sets of instructions following the launch of his initiative to fund financing Small projects and Almtosth.oadav morning's, that «the private banks will be obliged to apply the central bank instructions, as the private bank will be carried out conditions and procedures as a bank, but must be matching the central bank because the amounts will be spent from own portfolio and bears is the responsibility and then compensated by the central bank », considering it, according to this mechanism, there will not be any problems.

He predicted that the vacationer experience witnessing challenges in the beginning, but he was optimistic override them, especially with the presence of government openness by the central bank to support these segments, warning that the money under these loans can be grown deteriorating economy in the country.

© Al Sabaah 2015