Specialists: Expanding financial inclusion strengthens the family economy

Specialists: Expanding financial inclusion strengthens the family economy



5/24/2017 0:00

Baghdad / Mustafa al-Hashemi
At a time when Iraqi banks announced that it seeks to adopt the draft Financial Inclusion, a number of existing citizens called on the banking sector develop soft conditions to facilitate their access to the benefits of affordable loans in order to achieve financial inclusion, as well as a review of financial initiatives in order to direct them to achieve economic feasibility. The financial inclusion means the delivery of banking products to all segments of society that are often employed to improve the family economy.
The competent economic and financial affairs Haider Kadhim al - Baghdadi stressed that the banking sector must lead the real functions in the areas of development by offering advanced products to the public include all segments of society without exception.
He noted that the activation of the calendar control by the central bank is necessary to modify the work of banks tracks and make them adopt financial inclusion , which is a global objective of reinforcing the family 's economy and driven towards growth.
For his part , academic and economic d. Essam Mahouelle the need to create a culture of self - reliance in the provision of an opportunity to work rather than the survival of poor families rely on government aid and subsidies to the fact that the projects created by young people will be able to absorb the rate of unemployment and raise the living standards of those families.
He noted that the implementation of the financial inclusion program requires a strong support from the executive bodies to achieve the feasibility of this program through legislation protecting national production.
He says the student at the Faculty of Administration and Economics Hassan Haidar: we learned in our curricula established in colleges and universities with financial and banking specialization that financial inclusion expands banking services and gives banks the opportunity to innovate and develop its services and products to include various social strata.
He said in an interview for "morning": that the inclusion of the public banking services, including loans, will open the door to the integration of poor families in the labor market through their access to employment opportunities and direct loans towards the establishment of small and micro - enterprises.
The financial inclusion means the delivery of financial and banking services to all segments of society and using them to serve the sustainable development process.
In turn , he saw citizenship chosen that saw the adoption of financial inclusion requirements of the expansion of the opening of branches of banks, according to population ratios in providing banking services to the public which would activate the economic movement by the launch of production loans or even consumer.
She added that the granting of limited credit controls and conditions difficult "personal advances" phenomenon produced between low - income people are weighing them manage their living things , especially if the amount of significant advance.
And called for a review of financial initiatives and study again for the purpose of supporting young people launch targeted for the establishment of small and medium - sized projects as loans contribute effectively to reduce unemployment and stimulate the economy.
The central bank 's role in promoting financial inclusion strategy in the economy through his initiative to grant a loan of $ 5 billion is equivalent to 6.5 trillion dinars.
Mukhtar that followed the current stage requires diversification of loans to achieve financial inclusion, indicating that there needs to be renovating home or rehabilitation workshop or car purchase or repair, stressing the importance of the launch of self marriages that were in place and not restricted to only the category of staff.
She noted that the financial inclusion of great importance in achieving sustainable development in view of the country 's need for the participation of all sectors to reach the goal of development, as well as the financial inclusion allows banks to offer their contribution to the promotion benefit from social benefits.


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