Economists complain "obstructing" the granting of loans and "marginalize" the role of the private sector

Views 17 Date 18/07/2016 - 21:17

BAGHDAD / Economy News ...

Accused of economists, banks entrusted with the granting government loans to "circumvent" the controls and "blocking" is granted, and criticized government agencies for "marginalize" the role of economists and not to cooperate with them to "overcome the deficiencies" in their actions with the private sector, as expressed industrialists from the surprise change Terms awarded five times so far, complained citizens and employees of the "complexities" that prevent the achievement of their dreams to obtain housing units.

The deputy chairman of the Federation of business on behalf of Jamil Antoine, said that the Union was part of a project launched projects loans and shares in the development of mechanisms and controls in cooperation with the concerned authorities in the board of advisers of the Secretariat of the Presidency of the Council of Ministers, "noting that among the" controls the granting preference for projects that occupy loans the largest possible number of Iraqi labor to reduce unemployment, and those that use national raw materials to reduce import. "

He added Antoine, that "the Commission also focused on the construction industry and the leather and food and water and projects that enhance the gross domestic product and recommended that the loans start stalled projects of up to about 30 thousand which means 90 percent of the loans," adding, that "Another recommendation called for the formation of a technical committee professional organizations which contribute with the state and the banking sector to oversee the granting of such loans. "

He accused the vice president of the business, in charge of banks to grant loans to "circumvent the specific controls and obstructing them and submit their interests to the public interest and intercept Union on it," pointing out that there are "points within the state apparatus does not accept cooperation with the Union or to give an opportunity to the private sector and experts Economy".

He continued Antoine, that "forced the Union to inform the Prime Minister Haider al-Abadi, where he held a major change to correct the process path," stressing that "led to the formation of another committee and prepare a new form for those wishing to obtain loans", expressing at the same time, it regretted "deeply the fact that the Supreme Committee for the development of special mechanisms so ago, representatives from the private sector. "

For his part, member of the Institute of economic reform Mohammad Wafiq, that control over the granting of loans and projects that will be completed by the priorities of the success of such a move, "noting that" subject walking very slowly and suffers tripping although it is on the right track. "

He explained Wafiq, that "projects loans can make a quantum leap contribute to reducing the very high volume of unemployment in Iraq if it goes about is true," but he also said, "But that requires decoding puzzles and question marks that marred currently impede granted or slow down the pace, despite the approval of the Board of Ministers and the issuance of central bank's recent instructions on them. "

The member of Economic Reform Institute to, that "making the introduction of the loans from the sectoral banks via the Internet under the electronic form to prevent extortion and corruption," stressing at the same time, that "there are shortcomings of several process like having questions can not be answered is called the center to provide his observations on them to be modified ".

In turn, the board of the Central Bank board member Ahmed Rehn, said that the performance of lending depends on the possibility of sectoral banks, which suffered some of the inability of the borrower to repay, "stressing that" there is no bank in the world provides loans without collateral. "

On his part, the owner of a factory for sweets in Baghdad named Moataz Riad, was surprised at the "Change FAQ for granting industrial loans about five times so far," and wondered "how long settle stakeholders on a final version of the loans and start giving them to the beneficiaries."

For his part, complained about the employee in the Ministry of Communications and Waheed Hamza, complex procedures and the conditions that make it impossible for young people to get a government loan to realize their dream of buying housing units. "

The Central Bank of Iraq, said in (the 23 of June 2015), the launch of the loan amounts medium and small enterprises by the Iraqi private banks beginning in July 2015, while between the loan amounts of up to 50 million dinars, he stressed that banks benefit will not exceed 5.5 percent.

The cell, the governmental crisis, headed by Prime Minister Haider al-Abadi acknowledged, in August 2015, the lending program, which is funded by the Iraqi Central Bank amounting to five trillion dinars, distributed by 33% to agricultural and industrial banks and 17% for each of the Land Bank and housing fund, as well as financing bank Central banks own an amount trillion dinars for the implementation of small and medium enterprises.

The CBI count, in September 2015, that the granting of small, medium and large enterprise loans will develop the national economy and assured banks that they will bring back citizens' confidence and trust, and while calling an expert to facilitate the task of borrowers through the mechanisms of "modern and flexible" far from "the quota system and the mafias of corruption", criticized Last divided being "did not take into account" the country's needs and priorities of citizens.

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