Central loans targeted at all segments of society

9/29/2015 0:00

BAGHDAD - Hussein al-Tamimi Tgb
The introduction of advanced technology represents the most prominent banking sector development in Iraq's requirements, especially as the future of the economy requires a well-developed banking sector offers products suitable for the work that awaits Iraq size.

This is the focus of Sharm el-Sheikh conference, with emphasis on the importance of financial inclusion to reach all segments of society after the adoption of sophisticated electronic systems that can deal with all segments of society, as the banking services in the Arab world hardly be within specific segments.

President of the Iraqi private banks association meek Handal pointed to the importance of paying electronic transactions in the banking sector is particularly important, for its role in the beneficiary service wherever he went without the need to carry cash, and is accompanied by the process of risk on the move, as well as other services are quickly responding to customer request .

He said in an interview for »Sabah« to the trillion and a half trillion adopted by the Central Bank loans will include a broad segment of the community and will be a real breakthrough to the issue of financial inclusion after horizontal expansion of loans to be adopted private banks in cooperation with the Central Bank of Iraq and the Association of Iraqi private banks.

He pointed out the need to work on the development of the financial sector in Iraq and make it in the foreground compared with regional banks as a first stage, pointing to the importance of work to bail him out of its current location between Arab banks, stressing that the elements of the advancement of the local banks are available and on a large scale, and that the intent of this trend Association The first steps began to focus on the human element and the organization of continuous sessions to raise the efficiency of workers in private banks and directed all its efforts to evaluate bridges of cooperation with banks in the region and the world.

The Executive Director of the Association of Iraqi private banks Tariq Ali has pointed out that the horizontal expansion of lending is extremely important for the well-being of society and support the country's economy through small and medium enterprises which are often productive service. He stressed that the issue of guarantees for loans granted to beneficiaries is extremely important, and here has to be that the central bank addresses this issue quickly through instructions issued by pointing out the importance of expediting the issue of lending and give them to the actual entrepreneurs for its role in activating the wheel of production and create jobs for the slice of unemployed youth, and contribute to the revitalization of other sectors Dolly We have thus put the train on the railroad.

Tariq said the subject of guarantees occupies the authorities supervising the granting of loans for his role in the activation of the session capital, demanding that treats the sponsor to the private banks, which usually have the same treatment a government employee while borrow from government banks, which they see as when a late payment Excellent religion and deducted from his salary directly, pointing that private banks are responsible for payment of funds to the Central Bank and during the specified periods as in the instructions.

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