Call banks to finance
development projects
14/05/2013 12:00 AM
Hafiz:
Investment deposits meaningful opportunity for profits and boost the
economy
Baghdad - شكران the
Fatlawi
Collect
experts and specialists in the economic and financial potential contribution of
Iraqi banks in the financing of economic development projects through joint
loans of medium and long term., And pointed out that there is a phenomenon
chronic afflicting banks are embracing high liquidity may reach 50 percent of
the capital of banks, but to no avail or contribute
to the development because of the administration's inability to be invested into
our circle of harsh criticism from several quarters ago. said economic expert d.
Mehdi
al-Hafez in an exclusive interview »Sabah» that this phenomenon can be addressed
by establishing a pool bank (Banking Consortium) that provides loans are grouped
(Syndicated Loans) medium and long-term lending to the business sector in order
to finance existing projects or establish new projects., Adding that the feet of
banks the
allocation of a percentage of deposits to invest supporting the national economy
and gives banks invest their money with meaningful opportunities and thus lead
to improved performance and increased profits, pointing to the distribution of
risks to the largest number of participants in the consolidated
loan.
Two agreements
The
banking expert conciliator Hassan Mahmoud Vivq with Hafiz to embrace the idea of
founding assembly banking Alconsort day but he sees the need to develop a
mechanism Court to make this gathering via authoring committee based the
conclusion of two agreements in this regard. First agreement concerning funders
and the second private banks are willing to assume responsibility for management
of syndicated loans. He
said in the event announced assembly willingness to finance economic development
projects will be the establishment of new projects and the provision of capital
operation (Warking Capital) pointing to the financing of new production lines,
financing and purchase technology in addition to funding projects complexes
housing, hotels and restructuring of existing projects.
Coalition
banker
He
called Mahmoud need to form a pool or a coalition banker as Musharraf consists
of the Association of private banks and the Bank Iraqi Trade and bankers
specialists shall form a pool bank (Banking Consortium) from a number of banks,
insurance companies and international institutions like the World Bank and arm
financial Ifc as well as Opic stressing that failure to do thus
lead to a denial of the national economy from the investment of capital is not a
small code that could contribute to rebuilding the home or rehabilitation of new
projects, on the one hand and the other hand, capital investment this if Maatmkn
banking system and put it at the disposal of the national economy will have
positive effects many
noting that the investment is a cornerstone of efforts to revive the economy and
stimulate economic activities in his goods and services.
He
pointed out that all of this in the best increase in GDP, increase employment
and reduce unemployment and increase tax revenues and not only this, but extends
to enrich the balance of payments, whether to increase the production of these
for the purpose of import or compensation were directed to increase
exports.
Poor understanding and
coordination
The
banking expert on behalf of Jamil Antoine has attributed the reasons for failure
of the banking sector to the weakness of understanding and cooperation between
the central bank and private banks in terms of providing logistical assistance
and technical them. Jameel said there are weak understanding and joint
coordination between the central bank and private banks regarding the evolution
of the banking system and to identify the most important constraints banking
to
find solutions to them, adding that this spacing between the Central Bank and
local banks have made a big gap in their work rendered control and government
control over the work of private banks and trading operations of financial and
banking sectors. drew Antoine to that in spite of the Investment Law No. 13 of
2006 has excluded investment in
the banking sector of its provisions, but the investment in the banking sector
takes its legal framework on the basis of legal central bank No. 56 of 2004,
banks No. 94 of 2004, with a minimum of the founding of any bank in Iraq's 100
billion Iraqi dinars, up to $ 85 million.
Bank
for Reconstruction and Development
For
his part, suggested financial advisor d. Akram
Mohamed Hassan establish a bank of reconstruction and development of Iraq
specific tasks essential help of the private sector in the process of financing
investment opportunities long-term more than interested in obtaining capital
gains fast. Said the possibility that the Bank provide loans to existing
projects and new projects, particularly those projects bound for export to their
ability to providing
hard currency useful that returns potential generated by these projects are
greatly influenced by changes possible exchange rates and interest rates in the
international market., and pointed out that the Bank of Reconstruction and
Development proposal will provide the necessary funding for these projects may
contribute to the decline of these potential risks, pointing out that this
orientation
may push to encourage foreign capital to participate in these projects which
contribute to bring managerial expertise and marketing necessary to raise the
chances of success for these projects.
[You must be registered and logged in to see this link.]
development projects
14/05/2013 12:00 AM
Hafiz:
Investment deposits meaningful opportunity for profits and boost the
economy
Baghdad - شكران the
Fatlawi
Collect
experts and specialists in the economic and financial potential contribution of
Iraqi banks in the financing of economic development projects through joint
loans of medium and long term., And pointed out that there is a phenomenon
chronic afflicting banks are embracing high liquidity may reach 50 percent of
the capital of banks, but to no avail or contribute
to the development because of the administration's inability to be invested into
our circle of harsh criticism from several quarters ago. said economic expert d.
Mehdi
al-Hafez in an exclusive interview »Sabah» that this phenomenon can be addressed
by establishing a pool bank (Banking Consortium) that provides loans are grouped
(Syndicated Loans) medium and long-term lending to the business sector in order
to finance existing projects or establish new projects., Adding that the feet of
banks the
allocation of a percentage of deposits to invest supporting the national economy
and gives banks invest their money with meaningful opportunities and thus lead
to improved performance and increased profits, pointing to the distribution of
risks to the largest number of participants in the consolidated
loan.
Two agreements
The
banking expert conciliator Hassan Mahmoud Vivq with Hafiz to embrace the idea of
founding assembly banking Alconsort day but he sees the need to develop a
mechanism Court to make this gathering via authoring committee based the
conclusion of two agreements in this regard. First agreement concerning funders
and the second private banks are willing to assume responsibility for management
of syndicated loans. He
said in the event announced assembly willingness to finance economic development
projects will be the establishment of new projects and the provision of capital
operation (Warking Capital) pointing to the financing of new production lines,
financing and purchase technology in addition to funding projects complexes
housing, hotels and restructuring of existing projects.
Coalition
banker
He
called Mahmoud need to form a pool or a coalition banker as Musharraf consists
of the Association of private banks and the Bank Iraqi Trade and bankers
specialists shall form a pool bank (Banking Consortium) from a number of banks,
insurance companies and international institutions like the World Bank and arm
financial Ifc as well as Opic stressing that failure to do thus
lead to a denial of the national economy from the investment of capital is not a
small code that could contribute to rebuilding the home or rehabilitation of new
projects, on the one hand and the other hand, capital investment this if Maatmkn
banking system and put it at the disposal of the national economy will have
positive effects many
noting that the investment is a cornerstone of efforts to revive the economy and
stimulate economic activities in his goods and services.
He
pointed out that all of this in the best increase in GDP, increase employment
and reduce unemployment and increase tax revenues and not only this, but extends
to enrich the balance of payments, whether to increase the production of these
for the purpose of import or compensation were directed to increase
exports.
Poor understanding and
coordination
The
banking expert on behalf of Jamil Antoine has attributed the reasons for failure
of the banking sector to the weakness of understanding and cooperation between
the central bank and private banks in terms of providing logistical assistance
and technical them. Jameel said there are weak understanding and joint
coordination between the central bank and private banks regarding the evolution
of the banking system and to identify the most important constraints banking
to
find solutions to them, adding that this spacing between the Central Bank and
local banks have made a big gap in their work rendered control and government
control over the work of private banks and trading operations of financial and
banking sectors. drew Antoine to that in spite of the Investment Law No. 13 of
2006 has excluded investment in
the banking sector of its provisions, but the investment in the banking sector
takes its legal framework on the basis of legal central bank No. 56 of 2004,
banks No. 94 of 2004, with a minimum of the founding of any bank in Iraq's 100
billion Iraqi dinars, up to $ 85 million.
Bank
for Reconstruction and Development
For
his part, suggested financial advisor d. Akram
Mohamed Hassan establish a bank of reconstruction and development of Iraq
specific tasks essential help of the private sector in the process of financing
investment opportunities long-term more than interested in obtaining capital
gains fast. Said the possibility that the Bank provide loans to existing
projects and new projects, particularly those projects bound for export to their
ability to providing
hard currency useful that returns potential generated by these projects are
greatly influenced by changes possible exchange rates and interest rates in the
international market., and pointed out that the Bank of Reconstruction and
Development proposal will provide the necessary funding for these projects may
contribute to the decline of these potential risks, pointing out that this
orientation
may push to encourage foreign capital to participate in these projects which
contribute to bring managerial expertise and marketing necessary to raise the
chances of success for these projects.
[You must be registered and logged in to see this link.]
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