Demand the provision of financing small and medium enterprises

24/03/2016 - 09:41

BAGHDAD / Economy News ...

He demanded the International Union of Arab Bankers member Samir Alnasiri re-review and evaluation of the financial and monetary policies and the adoption of applications working mechanisms of the economic cycle are active in the country.
Nasiri said that the current phase experienced by the national economy requires the central bank and the Finance Ministry analysis of the current financial position of banks and is expected to 2016 and determine the actual need for liquidity to sustain cash trading in the Iraqi market and stimulate the economic cycle in all areas.

Proactive plan

He noted in his speech on the sidelines of the Forum talk show economic need to develop a proactive plan to prevent the bankruptcy and the collapse of some banks and sustain the bank to work the wheel under the current conditions using tools for new applications monetary policy mechanisms, pointing out that the structure of the current bank financing, which marred a lot of failures and constraints and in order to increase credit the total financing from banks and activate their contribution to various aspects of investment and reconstruction and advancing the process of development and trigger economic cycle in Iraq see as an essential step Avenue is activated expand the financing of small and medium-sized private enterprises as an objective social and economic, referring to the importance of being the Iraqi Central Bank the role of supervisory and regulatory effectively in that to take over the development of initiatives and activating and expanding and doubling the allocations to 10 trillion dinars.

organization of work

He urged to amend banking legislation in Iraq governing the banking business aimed at promoting their betterment in particular the Central Bank Law No. (56) of 2004 and the Banking Law No. (94) for the year 2004 and the law of company registration number 21 for the year 1997 and the law of Iraq Stock Exchange No. 74 of 2004 and the activation code money laundering and the law of the new investment.
And called for early in the issuance of Small and Medium Companies Act-sized and micro which works to create new jobs and to reduce poverty and destitution and contribute to the economic and social development plans and to reduce high unemployment, which exceeded the 28 percent ratio and the issuance of the Deposit Insurance Act, the credit guarantee and loans and the establishment of professional companies to do so.

Pre-emptive censorship

Alnasiri stressed on activating the role of state banks and specialized banks and private banks to provide soft loans to the private sector and the national as well as finding solutions to the problems of tax accumulated and the benefits resulting from the stalled project for production owners solutions, pointing to the need to develop a short- and medium-term fiscal policy depends Proactive control, audit and evaluation to be continuous coordination between fiscal and monetary policies and the development of operational mechanisms in this area.
He pointed out the importance of securing the legal and technical requirements for twinning widespread among government banks and private banks on the one hand and between the international banks on the other hand the aim of developing the payments system and banking modernization and regulation of the financial and monetary trading processes according to the latest applied modern electronic banking systems in the world.

Efficient performance

He protagonist importance of reviewing and evaluating and re-classification of banks in accordance with the efficient performance and activity adoption based on the international standards, the standards in the process of review and evaluation accredited international neutral accounting institutions and under the supervision of the Central Bank of Iraq, as well as the central bank to prepare an analytical study to review the reality of banks in the light of the financial results for the year 2015 and take crucial decisions Bhikltha and integrating small-sized banks and weak activity with large and discreet banks with a view to the development of the private banking sector.