Alnasiri: Microfinance Bank and medium achieves economic and social goal

Views 166 Added 06/05/2016 - 00:10

Economy News: Private

Proposed banking expert and consultant in Baghdad Economic Forum Samir Abbas Alnasiri create a bank to finance SME in order to benefit from the developmental trends of the IMF loan for the purpose of achieving the development objectives planned for the private sector's contribution to the diversification of budgetary resources and achieving sustainable development

and pointed Alnasiri the foundations must be adopted for the establishment of the bank is the state's contribution to 25 percent of capital, which should be up to 500 billion dinars and that the private sector contributes 75 percent and representative Government ministries and banks, which currently holds fund some SME like the ministry of labor and Social Affairs,

for example, be the State's participation the contribution of the sector private should private banks and companies retaining the banking business and private companies concerned sectors productivity and businessmen rightful and Y include reputable economic known and that the bank accounts are subject to audit the Office of Financial supervision and the supervision and control of the Iraqi Central Bank and the Council of Ministers shall grant the bank a sum Mahhadda as a loan to the bank from the IMF loan like allocated from the central bank Alahalkarz to finance small and medium enterprises and the new bank shall develop guidelines and instructions and facilities to grant the loan to entrepreneurs

and added Alnasiri he can clarify the goals achieved by the establishment of the new bank, as follows: -

1-one achieve the development goals of the IMF loan to support and stimulate the private sector

2. The contribution of the private sector to diversify revenues and reduce the budget deficit and increase operational productivity in economic sectors

3-achieving social objectives by reducing the rate of unemployment Khregeyn, professionals and artisans, which amounted to 31 percent

4-involvement of the private industry sector and economic decision-down to build introductions transition to a market economy and its leadership in the future

5-activate and Tndij Central Bank initiative for projects, small and medium developed to achieve its goals of economic and social community
Samir Alnasiri
Banking expert consultant in Baghdad Economic Forum

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