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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Head of the Riyada Initiative: Efforts to exempt small business loan applicants from obligations

    Rocky
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    • Post n°1

    Head of the Riyada Initiative: Efforts to exempt small business loan applicants from obligations Empty Head of the Riyada Initiative: Efforts to exempt small business loan applicants from obligations

    Post by Rocky Tue 10 Oct 2023, 6:47 am

    Head of the Riyada Initiative: Efforts to exempt small business loan applicants from obligations

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    Economy News - Baghdad
    Adviser to the Prime Minister, head of the “Riyada” Initiative, Hussein Flammers, announced today, Tuesday, the launch of 84 courses within the “Riyada” initiative throughout Iraq. While he explained the mechanism for passing the training courses and obtaining project loans, he indicated that there are efforts to exempt small project loan applicants from obligations. .
    In an interview with the Iraqi News Agency, followed by Al-Iqtisad News, Flamers said: “The (Riyada) initiative, which was launched last March 4, registered 182,589 people, including students, graduates, and job seekers, and we began actual training on July 16,” pointing out that “The number currently registered with the initiative as trainees is 5,000 trainees, including 3,400 who are successful, and 3,100 of whom are eligible for loans.”
    He added, "Training operations took place in universities, schools, vocational training centers, and youth and sports forums," adding: "We have 250 trainers currently ready, and since yesterday, Sunday, October 8, we began implementing 84 courses throughout Iraq, with a course every two weeks, with a duration of 5 days, after which the trainee has a project idea, and the trainer gives him a grade of qualified or unqualified.”
    He explained that “the trainee, after obtaining a qualification degree, is given a form entitled (Economic Feasibility Form) similar to an exam, which the trainee fills out electronically, and if he succeeds, he goes directly to the banks,” indicating that “the issue of banks has not yet been decided, because the loans are of two types, namely loans of 20 million.” And 100 million, and therefore each loan has its own conditions.”
    He continued: "We support a loan of 20 million, as it is commensurate with the situation of students and youth," stressing that "the state is interested in completing the project as promised."
    He pointed out that "the government is trying to exempt the beneficiaries of the loans from all obligations, as they are owners of micro-enterprises, and whoever enters the (Riyada) initiative and whose annual project profits do not exceed 15 million should not be held accountable for tax, nor be held accountable for not being registered in companies, and whoever exceeds these profits." Enters the tax and corporate registration process.


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