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Baghdad investment: banks role is absent and did not have any concrete participation
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Baghdad Investment Authority criticized the role of [You must be registered and logged in to see this link.] in dealing with the [You must be registered and logged in to see this link.] file [You must be registered and logged in to see this link.] calling it "absent"
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Shaker al-Zamili said in a press statement: "It is assumed that banks have a role in the development of the [You must be registered and logged in to see this link.] sector by virtue of its work, as well as that there is provision of soft loans for investment projects with a completion rate of 25%, but unfortunately did not have a clear role."
He added: "Since the establishment of the Authority has not been any participation of Iraqi banks except in one project is the residential complex housing in Baghdad, and now faces a problem.
" He said Zamili: "There was a joint committee of the [You must be registered and logged in to see this link.]Authority and the Secretariat of Baghdad as well as the Central Bank of Iraq and a number of [You must be registered and logged in to see this link.]In addition to the Ministry of Finance, and we have reached 9 points provided mechanisms for lending projects to guarantee the buildings and not a real estate guarantee, because this condition is unable to provide the investor, and the Central Bank of Iraq circulated these points to banks, but not implemented, but there are banks objected to.
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Shaker al-Zamili said in a press statement: "It is assumed that banks have a role in the development of the [You must be registered and logged in to see this link.] sector by virtue of its work, as well as that there is provision of soft loans for investment projects with a completion rate of 25%, but unfortunately did not have a clear role."
He added: "Since the establishment of the Authority has not been any participation of Iraqi banks except in one project is the residential complex housing in Baghdad, and now faces a problem.
" He said Zamili: "There was a joint committee of the [You must be registered and logged in to see this link.]Authority and the Secretariat of Baghdad as well as the Central Bank of Iraq and a number of [You must be registered and logged in to see this link.]In addition to the Ministry of Finance, and we have reached 9 points provided mechanisms for lending projects to guarantee the buildings and not a real estate guarantee, because this condition is unable to provide the investor, and the Central Bank of Iraq circulated these points to banks, but not implemented, but there are banks objected to.
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