Banking techniques serve low-income

This was the recommendation at the Arab Conference

2/23/2015 0:00

 BAGHDAD - Hussein Tgb


Concluded SMEs forum work, calling for the establishment of a government loan guarantee fund risks of small, medium and micro projects for its role in supporting economic and social development of the Arab world, especially that he had discussed thoroughly strategies and mechanisms of microfinance in support of economic and social development.


Banking expert d. Shammari honest like Iraq at the conference and said that senior Arab Banking experience participated in this broad forum hosted by the Sudanese capital Khartoum, pointing out that the recommendations focused on urging Arab governments on the importance of establishing an institution (or a public body specialized and independent oversees the small and medium enterprise sector) and is working to coordinate the efforts of the government agencies concerned through a single device.


Participants urged decision-makers on the importance of the integrated framework for strategies financial inclusion and expanding the use of modern banking techniques developed to ensure access of financial services to low-income people (according to al-Shammari), pointing out that Iraq is addressed in the allotted time the subject of financial inclusion and its role in the achievement of social justice between the community and the dissemination of products Banking layers is the beneficiary, which can deal with the banks after the banks begin to financially support the creation of small and micro enterprises.


And the importance of directing part of an integrated development policy for the development of small and medium enterprises sector and to benefit from the experience of successful countries in this area, given the economic and social importance to reach sustainable development.


He added, "morning", "The conference also recommended the adoption of the central banks an incentive policy for the banking sector to support small and medium enterprises sector through the creation of a specialized bank and a review of the legislation and the development of incentives enjoyed by working in the field of small and medium enterprises banking system, as well as the evaluation of experiences and initiatives that have been implemented by a number of agencies and institutions interested in the development of rural women, especially in regard to the social and economic impact of next financial sustainability of the institutions.


Shammari said he stressed to strengthen the role of Arab central banks and by supporting and encouraging the banks to facilitate access to finance for small and medium enterprises and the need to amend the credit policies of banks to include determining the proportion of the credit portfolio of small and medium enterprises.


He stressed that the conference called for Islamic banks with the support and development of small and medium enterprises through the development of products, modern finance and formats adapted to the characteristics of different economic activities, as well as the support of Arab governments, innovation, creativity and entrepreneurship and deepen the culture of entrepreneurship to contribute to the economic and social development, as well as the need for the exchange of experiences and transfer of successful experiences between the Arab states in small, medium and micro enterprises.


The conference also recommended that Arab governments to take the necessary actions that will facilitate obtaining the necessary permits for commercial and industrial activities and simplification of procedures as a glimmer of hope for economic and social development.




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