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The low volume of funds allocated to the state department
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The Iraqi Trade Bank confirmed on Monday that the size of the opening of credits to state departments and government institutions for less than half during the last year 2017, in amounts not exceeding four billion dollars.
The director of the bank, Faisal Al-Hims in a statement quoted by the newspaper "morning" official, read by "Economy News", "The economic reforms followed and reduce the waste of public money contributed by reducing the opening of credits during the last year 2017 to about 600 credits not exceeding four billion dollars" , Pointing out that "the bank and at an annual rate was opening external appropriations for ministries and government departments exceed the 1500 accreditation, as the year 2016 granted credits in amounts up to 10 billion dollars."
He described the financial situation of the bank as "very good," pointing to the development of mechanisms to invest nearly $ 3.5 billion from various investments, noting that the central bank was able to overcome many of the difficulties in managing the financial crisis and build strong reserves, As well as the strengthening of gold reserves.
He explained that the bank is working on a daily basis to employ liquidity for the new projects provided for the public and private sectors to finance them. It also examines any application submitted for the establishment of small, medium, industrial or commercial projects, because its establishment is an important part of the process of revitalizing the economy and creating jobs and moving the economic wheel.
He pointed out that the bank also managed to finance the government in amounts up to three billion dollars, and is paid through the government's annual profits of 50 percent because it is the only contribution, which helps to cover part of the financial needs of the operating budget.
He said that the bank is the first to enter electronic payments through the system "Visa", but did not activate the system then, but the process of settling the salaries of employees during the past two years, prompting the bank to activate the electronic payment system, through the application of the system "Visa Card ", and thus the bank quickly stepped up to increase the payment of salaries through the system and provide services to pay and manage accounts electronically.
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[You must be registered and logged in to see this image.]
The Iraqi Trade Bank confirmed on Monday that the size of the opening of credits to state departments and government institutions for less than half during the last year 2017, in amounts not exceeding four billion dollars.
The director of the bank, Faisal Al-Hims in a statement quoted by the newspaper "morning" official, read by "Economy News", "The economic reforms followed and reduce the waste of public money contributed by reducing the opening of credits during the last year 2017 to about 600 credits not exceeding four billion dollars" , Pointing out that "the bank and at an annual rate was opening external appropriations for ministries and government departments exceed the 1500 accreditation, as the year 2016 granted credits in amounts up to 10 billion dollars."
He described the financial situation of the bank as "very good," pointing to the development of mechanisms to invest nearly $ 3.5 billion from various investments, noting that the central bank was able to overcome many of the difficulties in managing the financial crisis and build strong reserves, As well as the strengthening of gold reserves.
He explained that the bank is working on a daily basis to employ liquidity for the new projects provided for the public and private sectors to finance them. It also examines any application submitted for the establishment of small, medium, industrial or commercial projects, because its establishment is an important part of the process of revitalizing the economy and creating jobs and moving the economic wheel.
He pointed out that the bank also managed to finance the government in amounts up to three billion dollars, and is paid through the government's annual profits of 50 percent because it is the only contribution, which helps to cover part of the financial needs of the operating budget.
He said that the bank is the first to enter electronic payments through the system "Visa", but did not activate the system then, but the process of settling the salaries of employees during the past two years, prompting the bank to activate the electronic payment system, through the application of the system "Visa Card ", and thus the bank quickly stepped up to increase the payment of salaries through the system and provide services to pay and manage accounts electronically.
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