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Demand the provision of financing small and medium enterprises
3/23/2016 0:00
[rtl] BAGHDAD - Hussein al - Tamimi Tgb
called the International Union of Arab Bankers member Samir Alnasiri re - review and evaluation of the financial and monetary policies applications and the adoption of mechanisms to stimulate the economic cycle in the country.
He said Alnasiri that the current phase experienced by the national economy requires the central bank and the Finance Ministry analysis of the financial position of the current banks and expected 2016 and determine the actual need for liquidity to sustain cash trading in the Iraqi market and stimulate the economic cycle in all areas. proactively planand pointed out in his interview on the sidelines of the Forum talk show economic need to develop a proactive plan to prevent the bankruptcy and the collapse of some banks and sustain the bank to work the wheel under the current conditions using themechanisms and new tools for the application of monetary policy, pointing out that thestructure of the current bank financing , which is marred many of the failures and obstacles in order to increase the credit product and financing from banks and activate their contribution to various aspects of investment and reconstruction and advancing theprocess of development and trigger economic cycle in Iraq see as an essential step serious is the activation expand project financing small and medium - sized target social, economic, pointing to the importance to have the Iraqi Central Bank the role ofsupervisory and regulatory effectively in it on to take over the development of initiatives and activating and expanding and doubling the allocations to 10 trillion dinars.organization of work and urged to amend banking legislation in Iraq governing thebanking business aimed at promoting betterment in particular the Central Bank Law No. (56) of 2004 and the banking Law No. (94) for the year 2004 and the law of company registration number 21 for the year 1997 and the law of Iraq Stock Exchange No. 74 of 2004 , and activate the money laundering law and the law of the new investment. He called to accelerate the issuance of small companies Act the medium - sized and micro which works to create new jobs and to reduce poverty and destitution and contribute tothe economic and social development plans and to reduce high unemployment , which exceeded the 28 percent ratio and the issuance of the deposit Insurance Act, the credit guarantee and loans and the establishment of professional companies to do so.proactive control Alnasiri stressed on activating the role of state banks and specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of tax accumulated and the benefits resulting from the stalled project for production owners solutions, pointing to the need to develop a short- and medium - term fiscal policy depends proactive control, audit and evaluation that is continuous coordination between fiscal and monetary policies and the development ofoperational mechanisms in this field. He noted the importance of securing the legal and technical requirements for twinning widespread among government banks and private banks on the one hand and between the international banks on the other hand the aim of developing the payments system and banking modernization and regulation of thefinancial and monetary trading processes according to the latest modern electronic banking systems applied in the countries of the world. efficient performance and stressed the protagonist importance of reviewing and evaluating and re - classification of banks inaccordance with the efficient performance and activity adoption based on the international standards , the standards in the process of review and evaluation accredited international neutral accounting institutions and under the supervision of the Central Bank of Iraq, as well as the central bank to prepare an analytical study to review the reality ofbanks in light of the financial results for 2015 and to take critical decisions Bhikltha and integrating small - sized banks and weak activity with large and discreet banks with aview to the development of the private banking sector. [/rtl]
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