Parliamentary Economy: the launch of the loans is an important step to support domestic production a

by day dreamer Sat Jun 27, 2015 10:12 pm

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Parliamentary Economy: the launch of the loans is an important step to support domestic production a

by day dreamer Sat Jun 27, 2015 10:12 pm

28/06/2015 (00:01 pm) -

[ltr]Parliamentary Economy: the launch of the loans is an important step to support domestic production and call control for project funds [/ltr]

BAGHDAD / Amer Mohi

[ltr]The Commission on the economy parliamentary, on Saturday, that the launch of self SMEs step to support domestic production condition distancing itself from nepotism, as called for projects to be implemented through the banking borrowing control, an expert in economic affairs called for the support of the private sector through the provision of banking facilities and the adoption of the principle of transparency in dealing with investors.[/ltr]

[ltr] The Commission said the economy parliamentary member Najiba Najib in an interview for the "long", that "the loans that would give the central bank for banks, which would give small and medium-sized enterprises will be reflected positively on the Iraqi economy in general."
Najib said, "The loans will be given to small and medium projects, mostly related to agricultural and livestock side," asserting "that there should be a plan for the equitable distribution of loans."
She said the "loans to be awarded this time must be different from its predecessors in many ways, the first of distributive justice and away from private patronage that the purpose of the distribution of the loans is to benefit the ordinary citizen and the opening of economic projects that serve the Iraqi reality." Najib and showed that "the big dealers and owners of the many money will not enter into conflict to obtain the loan because of the lack of allocated per project money, and that's good," asking "the need to follow up the recipients of the loans and projects."
She stressed that "the benefits of a few loans, bank, will give 1% of the central bank as interest, but the banks will determine the interest on the loan given to citizen ratio and therefore these benefits are easy on the citizen and the benefit of the central bank."
For his part, member of the Baghdad Chamber of Commerce Maitham Yasiri told the "term" that "phase Chamber of Commerce to take action in order to contribute in the development of effective mechanisms to make this initiative effective and successful to reach the beneficiaries of the business owners."
The Yasiri that "the granting of loans to the owners of small and medium enterprises is an important step," and urged to make the distribution transparent and far favoritism procedures for loans to reach the real beneficiary to reduce the unemployed and move the wheel market rates. "
For his part, an expert in economic affairs Maitham Laibi that "saw the problem in the Iraqi economy was is poor funding and is not configured private sector warheads capable of big money on the investment management of his province by himself."
The coffee in a statement to the "long" that "this matter was important to form this sector after years in order to lead the economy and the withdrawal of the public sector, due to the weakness of the potential financing of the private sector, so the idea was that the public sector to the private sector and Contractors offers in advance of the projects as a way of funding supported ".
He said the "private sector remained dependent on the public sector in funding because of the rents high the Iraqi economy and because of the entry of many Translated, so it has not been able to develop its potential, as well as administrative, political and military reasons, therefore, this problem has accumulated in the budget and remained list did not back down over time" .
The head of the Department of Banking and Finance at the University of Mustansiriya that "the government is doing to protect their money in this kind of contracts by withholding payments to ensure, that the Ataud the money to the contractor in the absence of its commitment to provide proof of his commitment to progress the implementation of the contract."
And seal Laibi "The problem that emerged from the government side is that the advances were not withdrawn have spotted her money in the budget, especially after the crisis, falling oil prices, which led to the suspension of many projects."
And it approved by the Central Bank of Iraq, earlier, to launch trillion dinars for private banks to finance projects loans, indicating that it was approving instructions regulating the work of guaranteed bank loans companies.
The bank said in a statement received "long" copy, "we decided to approval by the Board of Directors' Meeting of the Central Bank on the launch of the sum of (1) trillion dinars for private banks to finance small and medium enterprises to citizens and approve their own loans controls."
The bank said it also decided to "approve instructions regulating the work of guaranteed bank loans companies."
The Central Bank of Iraq, in December 21, 2014 it continues to cover all the cash conversion and sales requirements in the auction, adding that he believes in the importance of the private sector and its role in rebuilding Iraq. [/ltr]

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