Accepts citizen on the ways the doors of government and private banks for the purpose of obtaining a loan of money to help him implement the project commercial or residential or a service or agricultural and industrial .. etc., and take measures to get the loan a long series of accurate information and financial guarantees and legal as well as the terms of repayment periods and interest rate uneven, according to the purpose of the use of the loan and the conclusion that we came out of our meetings with professionals in the banking and financial sector, and that there is a central legal in implementation of the instructions and procedures supervised by the Central Bank of Iraq and its role with all the private banks and the government. This prompted a lot of the Iraqi capital for Migration and the search for investment opportunities and secure wider markets and more with legal and administrative facilities. The economists contend that the turnout on the loans is a movement of economic activity in all sectors .. How the case in a country undergoing heart attacks, security, political and economic? .. This is an attempt to clarify the points of challenge and inertia in most of the activities of our economy.
Writing and photography Fares al-Shammari
Measures the central bank is a development
* Noted that private banks do not encourage long-term loans granted Vmahi reasons for this, and what is the impact of the policy adopted by the central bank in all sectors? ..
* It shows the President of the Federation of Iraqi businessmen Professor Reza Ragheb Blibl saying: -
The general direction of domestic banks depends granting short-term loans in commercial activity or contracting .. It Machdja the state .. and is determined to grant the loan to the oils from the bank, according to the movement of his money and his property and the quality of his business ..
That is why private banks to deal with loans Atagamr industrial projects as a long-term cycle and need to work, but only after years Ataud ..!
The Central Bank instructed on the mechanism of granting bank loans for short periods with follow-up and accountability .. and see that the policy of the Central Bank is a development towards the revitalization of the economy, but directed towards reducing economic activity, and this in our opinion, wrong policy and justifies it by controlling inflation, which is a tough line ..!
* We asked the President of the Union for the industrial feasibility of the initiative announced by the government and the required financial obligations and facilities .. Fajaibna saying: -
* See that the productivity of industrial projects can not benefit with a high interest rate with the presence of the phenomenon of dumping of foreign products in our markets and it has to be the provision of interest-free loans for long periods and real protection from foreign competition in front of the product ..! So after the issuance of the decision to activate the initiative of industrial, waiting facilities and procedures to enhance this productive activity similar to what has received the initiative of agricultural support and favorable conditions to prevent the loans and that have achieved part of its goals to provide the vegetables in our markets .. Phase requires that activates the Iraqi economic, not only commercially but also for projects productivity and the state must resort to address the stagnation of economic activity and productive allocation of funds to finance private sector projects, especially industrial productive pending projects can bounce back and produce what the people of goods and products and provide jobs for the unemployed ..
* Asked about the means of localization of the Iraqi capital .. explained Blibl saying: Required of government development policy to move all the activities of community economic activity including agriculture and labor absorption without it for Aastaqrar We call for the organization and the development of agricultural projects and the introduction of advanced technologies to them rather than to be individual projects, for example, the production of dunum Currently 450 kg, while in neighboring countries produce more than 1,500 kg ..
Encourage the establishment of business incubators projects
* For pushing graduates in the labor market and who there are no have job opportunities possible to encourage them and provide grants and funding business incubators from various disciplines and the establishment of a project depends modern technology and the method adopted by Germany, which represented 95% of the projects had to feed the major projects and contribute to giant companies with the support of these incubators .. being provided with the material terms of reference for convergent intervention in the production of goods for what projects ..!
Blurry banking laws
* Laws legislative base for the activities of economic sectors, including the banking and financial sector in moving the wheel of public and private projects, but the emergence of materials in those laws did not reflect the global banking industry developments and the need for the Iraqi market to stimulate the private sector ..
* To clarify things Technology (HTC) secretary-general of the Federation of Iraqi Chambers of Commerce Legal Counsel Abdul Hussein blessed where Ajabna saying: Previously, our union calls for amendment of the Banking Act, which was promulgated in haste by the central bank at the time, and his lack of legal materials, especially Almaderh (14), which states "that the be the capital of National Bank of 10 billion dinars, or Maigrrh central bank, while supposedly determines the allowance to be blurred and transparent manner ..! Adav..alan The central bank raised its capital to 250 billion dinars instead of ten billion, which led to confusion departments of private banks for amounts either internal or external shareholders to cover the capital forced the civil Almassar P to search for other ways to even corresponds illegal to obtain resources to cover the expenses and capital ..
* Sees blessed that the law Cable private banks not to allow her to enter into commercial activities and limited only to the deposit and withdrawal services and credit, unlike the work of banks in neighboring countries and the world ..! The law's current Aeetmashy and developments in the world and this has led to limited cooperation between our banks with international banks Alapshkl simple .. Banks Foreign need for banks effective and accurate in their work and the quality of its services, but the dominance of the bank on all the actions of private banks is contrary to the threads that aspire to it Dam..lzlk section of our banks forced to have a commercial activity that establishes commercial companies or Contracting, many examples of which mention Bank of Economic and has 13 companies active import and operating ..!
Need for private sector loans
* Commenting on this side of Legal Counsel said .. with all countries of the world businessman to Aastgl capitalizing but actuation loans from banks, but what he made the central bank in 2006, an increase of the interest rate and delivery to 25% led to the killing of the Iraqi private sector and capital flight abroad, there is no project in the world winning 25% until the payment of benefits for banks, this has embraced foreign banks out of capital such as Union Bank Alardna..alve became lends Iraqis interest rate of 7% and give him a permit in the first year in the case of the establishment of an industrial project, and noted the comparison interest rate which is reasonable. ., which led to encourage most of the capital to settle in neighboring countries and thus proved their worth .. and remember the example of attendance and reputation of our products where (Nabil food), which occupies a niche in most Arab markets and the Iraqi .. It is originally an Iraqi industry!
* He then general secretary of the Union claim to pass a law that regulates the Iraqi private sector and his role in the economic sectors, but our demand has not been heeded by government agencies ..?!
Here, we believe that changing the mentality of the managers of the central bank and get away from the advice and conditions of the World Bank and the International Monetary Fund and its interference in monetary policy for Iraq ..!
Services for the granting of loans from private banks
* Vary the effectiveness and services loans between private banks but confined to finance small and medium projects and amounts ranging from (5-250) thousand dollars and all sectors of commerce and industry of agricultural, construction and services, health, tourism and considers these loans with the goals of social humanitarian .. and Ttazavi most private banks in two two finance company projects and Iraqi Company for Bank Guarantees .. granted loans under favorable terms and repayment period of one year and monthly installments at an interest rate of 10%, while there are loans projects a medium which guarantees 75% of the loan in case of delays repayment and an interest rate of 12% there are banks granted a loan to buy a car of $ (10-50) million payable over (36-60 month) and an annual interest rate of 7.25% housing loan either for the purposes of restoration or building a new house and the amount (25-50) million and a repayment period of 7 years and an interest rate of 7, 25% also granted short-term commercial loans for a period of one year and an interest rate of 13.5% and medium-term duration (1-5 years) and 14.5% interest, and most of these loans are subject to the safeguards of the property, including mortgage or car Orhen Akaflae..hma what Atalna him at the Central Bank Gulf Commercial Services as a model for other private banks ..
* More details and the nature of the services and objectives of the granting of loans from these banks and their relationship to the laws of Technology (HTC) Counselor banks and banking expert Professor Samir Nasraoui as explained by saying, inter alia: -
* Fall most private banks in light of the companies mentioned in the granting of loans to many small and medium enterprises and their goals of social and economic initiative launched by most private banks since 2006 and began expanding its services in 2009 and amounted to what has been granted from the sums (25) thousand loan during the previous period. .
Under the Banking Act No. 94 of 2004 does not allow for domestic banks on the basis of Article (28) to participate in investment projects because he called an investment real estate no we can not build a residential complex, but it is possible to finance such projects within the controls and specific conditions .. They constitute our big obstacle ..!
He added Alnasiri..padr the central bank to hold a workshop to discuss the amendments to the banking laws, money laundering and the Central Bank of the end of 2013 and issued recommendations for changes to legal materials which bring investment and determine the movement of the banks to contribute to the economic development, and still the recommendations need to be activated by the central bank and the relevant authorities relationship, as it requires reconsidering the investment law No. 13 of 2006 of the need to reconsider some of its articles in order to contribute to the banking sector in the economic development effectively
* Asked about the challenges of the security situation and political processes on the granting of loans? He told us Alnasiri: inevitably the security situation and the economic Amrabh our country is directly reflected on the overall banking activity and financial trends that define some of the activities of the subjective and objective considerations .. I mean the owners and the relationship of the bank customers and other parties ..
Add to that delay in approving the state budget for 2014 has not been approved despite the passage of eight months .. and the expectations we have it will be delayed for the coming months and this significantly affected the activity of banks and customers, who are dependent on the completion of their work and projects on the movement of fiscal policy within the country ..!