Al-Nusseiri: Central Bank Governor stresses the need to activate the SME initiative

The governor of the Central Bank of Iraq, on Monday, the need to activate the initiative of the Central Bank of Iraq to finance small and medium enterprises, which aims to revitalize the economic cycle in the country.

The banking adviser to the Association of Iraqi private banks, Samir Nusairi said in an interview with "Economy News", "The Governor of the Central Bank addressed during the regular meeting with banks on the need to activate the initiative to finance small and medium projects, which aims to revitalize the economic cycle of the country, Governmental and private development ".
He added that "the Central Bank called for a meeting on Thursday, 27/9/2018 at the headquarters of the Central Bank to discuss ways to activate loans to finance small and medium-sized projects in light of the experience of banks in lending and reconsider the interest rates adopted and motivated by the increase in the number of loans granted to these projects."

He pointed out that "banks call for giving flexibility in the identification of sectors and projects and reconsider some of the conditions and instructions governing the mechanisms of lending."

Article Credit: https://economy-news.net/
Special thanks to Charles Bright!!