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

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.

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

2017-03-26


Baghdad Mawazine News

The governor of the Central Bank of Iraq Ali al-Alaq that the failure of borrowers to pay their debts is the most prominent problems of banks, which led to non-fulfillment of banks obligations in return, while a member of the Finance Committee parliamentary Haitham Tamimi that the central bank to control the treatment of private banks.

This came during a symposium organized by the Economic Council titled "The Role of the Banking Sector in Support of Sustainable Development in Iraq" and was opened by Ibrahim al-Baghdadi (Masoudi), President of the Iraqi Economic Council, which reviewed in eight minutes the march of the Iraqi Economic Council and the Wafa Initiative for Iraq.

Dr. Hamam Hamoudi, a member of the Presidency of the Parliament, spoke briefly of Park, thanking the orientations of the Iraqi Economic Council and its activities, and the Parliament's readiness to support the legislation required to develop the work of the private sector.

The Governor of the Central Bank of Iraq, Ali al-Alaq, discussed the problems of banks and the reasons for non-compliance of banks with their obligations to borrowers, including the failure of borrowers to pay their debts, and that the Central Bank launched an initiative to address the imbalance in the procedures for granting loans to industrial, agricultural and residential projects, Routine procedures and complexities in dealing have led to the lack of use of this initiative.

Dr. Haitham al-Jubouri, a member of the parliamentary finance committee, praised the role of the central bank in addressing the issue of lending to agricultural, industrial, investment and housing projects, pointing out that the central bank has the task of controlling private banks' handling.

Deputy Minister of Planning praised the efforts exerted by the Iraqi Economic Council to hold seminars on improving economic performance and pointed out that the role of the Ministry of Planning is to follow up the good performance of contractors and the payment of dues as well as with respect to projects and completion.

While Dr. Khawla Taleb Jabbar, Director General of Rafidain Bank, said that the Rafidain Bank is a government bank that adheres to the rules and regulations and is ready to deal with cases that are complete from all sides and entered into discussions on the length of the release of loans and receivables contractors.

Dr. Rashad Khudair Wahid, General Manager of Al Rasheed Bank and his agency talked about the problems faced by the bank in completing the transactions because some transactions are incomplete and therefore they negatively affect the performance of the bank and the bank is trying hard to complete all the receivables and loans.

Bilal Sabah Hussein, director general of the Industrial Bank, said that the number of borrowers applying for loans is 34, noting that only four projects have been accepted.

Mr. Adel Attia Al-Taie, Assistant Director of the Agricultural Bank on the subject of lending and the period specified for that and was answered by the Governor of the Central Bank.

The participants came up with several recommendations, the most important of which was presented by Sheikh Dr. Hammoud Hamoudi Ali Al-Alaq regarding the formation of a mini-committee to convey and discuss the important ideas and proposals that were put forward for improving The mechanism of supporting and financing government banks for investment projects with the relevant officials directly, in order to reach successful solutions to the problems of the government banking sector.


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