Saturday 27 November 2021
Development projects are the main nerve for the development and sustainability of the economy wheel in any developed economic system in the world, and it is indispensable for achieving financial stability, and it depends on financing.
The concept of finance is defined as the supply of funds in times of need, at any time and place, and this part is indispensable as it is an essential supplement supporting the advancement of the economy, along with the system of states to achieve economic balance by creating job opportunities for the private sector, which supports the balance sheet in liberation from The weight of the obligations that must be met, especially since the population of any country in the world is constantly increasing.
Therefore, it has become important for the specialized agencies to be aware of this very important matter, as it is the planting of today and the harvest of tomorrow, in order to secure a promising future that is planned wisely. Notable, in terms of providing financing for small and medium-sized projects to the community, in order to create job opportunities for young people, as well as building an infrastructure for projects affecting the economy that attract skilled human energies and others, and reducing the migration situation witnessed by a group of countries in the world, as well as securing projects that are proud of in front of the countries of the world. .
Such an important initiative contributes to limiting the expansion of the unemployment problem and moving the wheel of the economy forward. There is an important and significant role for the Central Bank of Iraq, where a large set of laws, instructions and facilities have been initiated, which enabled a number of banks to provide possible facilities in order to achieve the desired goal. Providing financing and building important and influential projects in the development of the private economy in order to [You must be registered and logged in to see this link.] the public sector, achieve financial inclusion, and seek financial stability through concerted efforts that in turn enable the sectors to work freely and equally between the public and private sectors.
Banks are among the most important financial institutions in providing various production and financing units by securing financial liquidity, to take various forms, such as short-term, recurring, and micro loans or financing the purchase of assets, including commercial mortgages.
The interest in financing projects in developing countries has increased in order to reduce the state’s role in economic activities, to move towards the private sector, and to activate its important role as it should, as the focus is on important elements when the desired goal is achieved, which is the ability to repay the loan amount or Financing as it is called in Islamic banks, according to the terms and conditions agreed upon by the two parties, and the feasibility study of the project is one of the most important pillars upon which the legislator relies, as it serves as a road map to achieving the success we seek.
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