Economists discuss the role of the banking sector in supporting sustainable development in Iraq

economy Since 03/26/2017 23:53 am (Baghdad time)

Baghdad balances News
The governor of the Central Bank of Iraq on the Keywords that borrowers do not pay what Bzmthm is the most prominent banking problems, which led to banks not to meet its obligations in return, while stressing the Parliamentary Finance Committee member Haitham Tamimi said the central bank set the task of handling private banks.

This came during a seminar organized by the Economic Council carving title (the role of the banking sector in supporting sustainable development in Iraq) and was inaugurated by Ibrahim al-Baghdadi (Masoudi), head of the Iraqi Economic Council, which reviewed eight minutes in the march of the Iraqi Economic Council and the initiative to meet Iraq.

Speaking Sheikh Dr. Hamoudi, a member of the board of the parliamentary presidency brief speech Park and thanked the orientations of the Iraqi Economic Council and its activities, and the readiness of parliament to support the required legislation to develop the private sector.

As discussed on the Keywords Governor of the Central Bank of Iraq in his speech among other problems for banks and among the reasons not to meet banks' obligations to borrowers, including the failure of borrowers to pay what Bzmthm, and between the central bank has launched an initiative to address the imbalance in the procedures for granting loans industrial, agricultural and residential projects, but there routine procedures and complications in the deal led to the failure to take advantage of this initiative.

And Dr. Haitham al-Jubouri, a member of the parliamentary finance committee, praising the role of the central bank in its response to the issue of lending for agricultural and industrial projects, investment and residential and explained that "the Central Bank of the task of adjusting handle private banks as well as the continued monitoring of the completion of the arrears of payments to contractors and the need to provide the cash necessary and covered deposits of citizens."

Qassem care, Undersecretary of the Ministry of Planning, in turn praised the efforts made by the Iraqi Economic Council for improving seminars took in economic performance and noted that the role of the Ministry of Planning is the follow-up to the proper performance of contractors and payment of their dues, as well as with regard to projects and deliverables.

While confirmed Dr. Khawla Taleb Jabbar Director General of the Rafidain Bank and the agency of the Rafidain Bank, the Bank is committed to a government directives governing regulations and is prepared to deal with cases that are complete from all aspects and entered into discussions about the length of the launch of loans and receivables contractors.

And Dr. Rashad Khudair Wahid, Director General of the Rasheed Bank and the agency of the problems faced by the bank in the completion of the transactions that some transactions are incomplete and therefore reflected negatively on the performance of the bank and that the bank is trying hard to accomplish all dues and loans.

Bilal Sabah Hussein, Director General of the Bank and the Industrial Agency explained that the number of borrowers who have filed applications for lending are 34 requests to change my, indicating that it was accepted only four projects, including where the rest of the applications have a lack of submission of documents.

Following Mr. Adel Attia al-Tai, Deputy Director of the Agricultural Bank lending on the subject of the specified period and it has been answered by the Governor of the Central Bank.

And then invitees spoke of both his point of view was asking questions gentlemen officials were useful and constructive discussion at the end of the seminar participants came out the recommendations of several of the most important of which was introduced Sheikh Dr. Hamoudi Ali Keywords on forming a small committee movement and discuss what has been put forward ideas and proposals improved the task support and financing of government banks for investment projects mechanism with relevant officials directly, in order to reach successful solutions to the problems of the government banking sector.