Private banks tend to invest in development projects flowability

Private banks tend to invest in development projects flowability



11.11.2013 12:00 AM

Cumulative loans and treasury bonds highlighted its means




Baghdad Hussein ثغب of Tamimi

Restored placed raise or increase the capital of private banks to 250 billion dinars to the circle of light and heated debate on the significance of whether or not to raise their performance, despite the consensus on the need to achieve this goal Aln difference centered on ways to Asestthmarha under certain restrictions imposed in the law of private banks, especially in articles (27) and (28), which many and اجهتا objections by specialists and stakeholders as tied to some investment activities, according to some stakeholders.

Real development

But apparently that the Association of private banks in Iraq resolved hurry to go to the possibility to take advantage of capital these investing for the purposes of development, this is what we reached him President of the Association Adnan Chalabi in an exclusive interview with the (morning) and said we have to primitive serious steps and by contributing loans aggregate provided several banks to finance lending and strategic development projects contribute to the real development and thus run these large liquidity generated by the raising of capital.

Syndicated loan

And on the mechanism to be followed in such a Banking Service sophisticated explained Chalabi process that the bank or two or three to provide a syndicated loan regulations and mechanisms to ensure that the rights of the parties through one of these banks to do the job and this action of course carried out with the approval and supervision of the central bank, and we believe that this kind of investment will lead to real development in infrastructure projects as a result of their representation regular procedures.

Chalabi, Ward P, saying that among the projects that are supposed to be funded through loans aggregate those affecting the lives of citizens, including the projects of housing units, schools, and thus activated the role of banks in the development through job creation and operation of many of the other units of prejudice to the construction and reconstruction.

Multiplicity of services

Chalabi pointed out that this type of financing Mujudwi most countries of the world have contributed to the implementation of several strategic projects.

And on the question (morning) for other steps to help banks to diversify their banking services towards the promotion of development programs suggested Chalabi strengthen the capacity of banks with liquidity through the issuance of treasury bonds and the measure requires the approval of the central bank and issuing bonds worth formal tradable in the Iraqi market for securities and the interest of it used for Altnumeihohma purposes depends on the decision by the Ministry of Finance and the Central Bank.

Bonds in the stock market

He said these bonds put into circulation by the citizens instead of ايداعاتهم cash purchase of bonds guaranteed and اتغيير on value and are buying and selling and generate profits for the citizen and at the same time invest amounts by banks will go for investment and development. However, Chalabi said that these trends, though serious Alaanha studying at the moment It and you are Blorthowthdid to the goals and mechanisms and submit them to the concerned authorities for approval and approval, they will contribute to the reduction of inflation and the withdrawal of liquidity surplus.

New directions

And the timing of the application of this mechanism concluded Chalabi his expectation that the mid-year 2014 as the date for the start of the new hinting at the direction many other association with structured nearby. Pointing out that the Association heading during the coming period to urge banks to interact with each other in order to activate the banking business and the advancement of banking products provided by the to beneficiaries audience, noting that the advanced technology started touched the doors of many banks and the multiplicity of civil products continuously and represents a target for most of the banks discreet.

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