Appeals to activate the financing of small and medium enterprises decision

Appeals to activate the financing of small and medium enterprises decision

2/15/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb

appealed to the head of the Iraqi private banks association Wadih Handal again the relevant authorities, to implement the decisions that have already Economic Committee of the Cabinet that approved, which dealt with the financing of small and medium enterprises, pointing out that any delay is causing negative effects on Albuld.alhandal economy he said in an interview for »morning«: the stage through which the national economy require bypass the routine loops that impede the activation of these decisions, through its insistence to follow routine procedures delay the implementation of the lending process aimed at activating the production and services.

he pointed to the need to follow up on this subject before regulators in the House of Representatives and the Council of Ministers and research into the causes of non-activation of these decisions, despite the approval of the economic Committee of the cabinet, despite continuing our appeals to the House of Representatives in this area.

He pointed out that the financial distress experienced by Iraq requires the concerted efforts of the government and the private sector to reduce its effects on the country through the activation of production and make capital cycle rotates inside the country, as well as its role in moving a lot of sectors of the economy and its role in the events of vogue within the markets.

Handal said previously that we launched similar appeals televised shared with the secretary general of the Union of Arab banks and Sam Fattouh across the Iraqi Satellite channel recently, he urged the latter to expedite the release of the special SME loans and quickly, to absorb unemployment and create jobs for unemployed youth and moving the labor market Ckomn recession.

Turning Handal to the problems faced by the Iraqi banks in general at the moment, adding that there are banks began to close branches the inability to continue, due to the high expenses, including salaries and rents and electricity, which Aakablha any actual returns.

He explained that the current banking situation is threatening to demobilize banking competencies difficult to compensate, as contrary to the draft financial inclusiveness advocated by everyone, and that requires expanded horizontally, by opening more branches and bank windows, and increase the spread of a wider Ntaq.wacharaly that the Department of Studies at the Central Bank has detailed information about the problems of private banks in particular face in the granting of loans to small and medium enterprises, despite the fact that some parties are still, despite knowing these facts , banks blamed for Tokhrsrv loans to eligible applicants.