Founding gathered Snaaa- banker for the advancement of national industry

6/18/2016 0:00

It aims to increase participation to GDP
BAGHDAD - Suha Shaykhli

stressed the economic expert on behalf of Jamil importance of amending the Banking Act to allow for the industrial sector 's long - term investments rather than commercial loans that are irrelevant to the productive national investment, calling at the same time to the establishment of a mixed development bank Adarbaklah the private sector with the Council of management of the majority of its members from the private sector.

industrial Bank , citing in an interview with
«morning», the distinguished role played by the industrial Bank of the industrial sector in decades, describing his role as positive , especially in giving the various loans and gambling , whether in Bnaelparwa, or import where the loans of up to 60 percent of the estimated value services and the benefits of modest not to exceed 6 percent for a long time and on soft terms, prompting the industrial sector to the growth and recovery at the time, and the day after they hit the industrial sector , production and other sectors of large catastrophes during the last two decades and the inability of the industrial sector of the same funding, became it is necessary to search for new funds active capital to help push this sector forward.

alleviating unemployment and confirms beautiful and there are strategic industrial initiative intended to be a starting point, noting that the operation of this sector Bhatrih public, private and even mixed became necessary to reduce unemployment and create new job opportunities for the work force mission presents itself to the market each year and in excess of 350-400 thousand people.

refers beautifully to the reluctance of the banking system in the foot on the financing of the industrial sector rewarding financial loans , either because of lack of capital , or the fear of the banks of the deficit for repayment by debtors and delay repayment because the industrial long - term loans. the banking system and continued because of the complexity of the withdrawals and the weakness of the confidence of citizens currently in the banking system to the lack of guarantees for the return of capital to their owners in time of need, Vkdbakat people 's savings in the cabinets and Qasat home exposed to the risk of theft.

He adds a beautiful expert is now required from the central bank or the financial authorities have to give guarantees for the citizen to ensure that these banks as long as officially vacationed in order to send a reassuring to migratory capital to return to Iraq and invest here rather than set up their projects outside the country.

government program Jamil said that the new government program refers to the activation of the role of the private sector, especially industrial and restructuring and possibly privatization department him by providing a rewarding and capital to promote the industrial sector special he was to bankruptcy and a large shortage of electric power as well as opening import door without the control of the quality and tariff under Bremaralkadimh decisions that led to the dumping of commodity and depriving local industries of all growth requirements policy.

development bank says expert said the current situation , which is going through the country, and in the need of industrialists natives to work according to the government program and revitalize the industrial sector and restore its contribution to GDP ratios exceed 10 percent, requires finding a lot of coordination between the industrialists and banks with modifying the banking Act to allow him a long - term investment loans instead commercial deadly national productive investment with work on the establishment of a mixed development bank Adarbaklah the private sector and with the board of Directors of the majority of its members from the private sector.

the move is aimed to restart the industrial sector and reduce the rates of poverty in the community and create a national gathering bank and entering partnerships with the industrial sector authentic professional to limit the inflow of money parasitic capital on the industrial sector.

revitalize industries beautifully stressed the importance of activating the basic industries that substitute for foreign imports leaked of the coin, and the industries in which material initial available locally Calcment, petrochemical, and food and other industries that occupy the largest possible number of labor and reduce the unemployment rate. Jamil confirmed at the conclusion of his speech that all of this requires a combination of legislation and regulations concerning the rapid banking system and the central bank in the broadcast assurances to citizens to ensure their deposits and their shares in banks.