The importance of the contribution of private banks in economic projects

Saad al-Tai
Local private banks are one of the important financial institutions of the economies of the modern countries because of the various financial services and what can contribute to the advancement of the national economy with the financial resources that can have a significant role in the development of the national economy in general if the best investment of this potential Financial owned.
In Iraq there are currently dozens of private banks whose financial potential can be used to serve the national economy by involving them in various economic projects, industrial, agricultural, urban, service, educational, health or other projects. In these banks and employment in the establishment of projects that serve the country in general and can have a set of shares in companies that work on the implementation of these projects, which if implemented will be the general interest on all members of society, as well as the financial benefit of these banks In a manner that achieves economic gains that can perpetuate its work and increase its profits and thus make it an important role and place among the institutions of society that contribute to building the national economy and providing services to all citizens. At the same time, the benefits of these projects can be spread to the citizens who benefit from the services of these projects. , Thus turning the role of banks from The provision of financial services only to the role of the financier and participant in the financing of investment projects in the community of all kinds. And be active institutions in various areas, whether financially, economically, or investment
The Iraqi economy is in dire need of any positive role by all local financial, economic and investment institutions in order to contribute to its development, development and achievement of achievements or steps that participate in its progress, which in the case of collusion can increase its durability and enable it to overcome crises and move it to pluralism in sources Finance and diversification rather than relying on limited resources that have not achieved any progress, but have kept it at a simple level and does not amount to the reach of the developed economy.
Many of the developed countries offer many opportunities for banks to enter the field of investment or financing for various types of projects, making them effective and influential institutions not only in terms of financial aspects, but also at the economic and investment levels, enabling them to play very important roles in the areas of building And develop the economies of these countries and make them a strategic engine for these economies and an important source of finance and investment, both at the level of companies or at the level of individuals and contribute greatly to the strengthening of the economies of these
Employing the cash pool available to private banks in various investment projects beneficial to the community will achieve many benefits, whether economically, financially or socially, as it will save a lot of job opportunities, which will absorb a large part of the unemployment suffered by many individuals in our society and provides A solid economic base through these projects, which will serve as the basis for other projects.
The development of the Iraqi economy needs the efforts of all governmental and private institutions and individuals, whether practical efforts or to provide ideas that would enrich the national economy and take advantage of the available local capacities for the expansion of success, which requires the active participation of all parties in various disciplines in order to support the national economy.
Among these institutions are the private banks, which can provide a lot of non-financial services in the economic and investment fields, which requires the provision of appropriate opportunities in these areas and support through the provision of legal facilities from the procedural, regulatory and other aspects or tax through the provision of discounts In this field in the case of investing in projects and other things that can encourage them to contribute to the recruitment of financial assets that they own in order to develop the Iraqi economy through the expansion of investment in various types of projects.