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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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    Iraqi Private Banks Association holds seminar on "Financing SMEs"

    Rocky
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    Iraqi Private Banks Association holds seminar on "Financing SMEs" Empty Iraqi Private Banks Association holds seminar on "Financing SMEs"

    Post by Rocky Mon 11 Feb 2019, 3:09 pm

    Iraqi Private Banks Association holds seminar on "Financing SMEs"

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    On Monday, the Association of Iraqi Private Banks held a seminar on "Financing Small and Medium Enterprises" under the auspices of Tamkeen Fund for Community Initiatives, as part of the fourth day of the Baghdad International Book Fair 2019.
    The seminar started with the participation of a member of the Central Bank's Small and Medium Enterprises Financing Committee, Bilal Qasim Mohammed, Director of Loans Department for Middle East Bank Mohammed Adeeb, Head of Credit Department at Ashur International Bank, Alaa Faeq, National Bank Representative Hadeel Taha.
    During the meeting, member of the committee of financing initiative Bilal Qasim Mohammed, and attended by "Economy News", that "in 2018 there was a large tendency for banks to participate in the initiative of financing the small and medium projects launched by the Central Bank, where the loans granted by them 71 billion dinars and now arrived The amount of loans granted 80 billion dinars. "
    "The initiative has been able to fund 2500 projects to date and the number is increasing."
    He pointed out that "there is a large turnout by private banks to participate within the initiative and the number of banks more than 33 private banks involved in the initiative of financing small and medium enterprises as well as government banks," noting that "the banks are working to give opportunities for projects already exist on the ground with Real feasibility study of the project. "
    He added that "we believe in the future through the direction of banks and granting credit access to advanced stages in the project during 2019, especially after the talk of the Governor of the Central Bank on the possibility of raising the ceiling of funding for large projects and feasibility study of up to 5 billion dinars."
    For its part, the managing director of guarantees company Rali Saleh said that when the initiative was launched in 2016 there was a real halt to the lending market for small and medium enterprises, but after the launch of the initiative by the Central Bank we have seen a large turnout to take advantage of loans.
    Al-Saleh said that "the Iraqi company for guarantees during ten years spent 133 billion dinars, while the initiative of financing the small and medium-sized projects have achieved a rate of disbursement of loans during the years 80 billion dinars, where is a major achievement and a remarkable success of the initiative."
    "The Central Bank continues to promote this initiative and has future plans to deliver the initiative to all applicants for small and medium-sized enterprises," she said. 
    "This seminar is an opportunity to clarify ideas and some things that are not understood by citizens regarding the SME financing mechanism launched by the Central Bank," said Mohammed Adib, director of loans for Middle East Bank. 
    "Small and medium-sized enterprises are unique to the rest of the projects registered in the country. For example, the financing of the company is different from a carpenter's workshop, so all lenders and banks are required to study the specificity of the projects submitted through the feasibility study and know the financial returns that will achieve the project and ensure the sustainability and success. The project ".

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