Expert: loans designed to achieve effective development

06/12/2015 0:00 Baghdad, Hussein al-Tamimi Tgb

He said banking expert Ali tempted the need to activate the local market through the revitalization of small and medium enterprises and support the private sector in the implementation of strategic projects in all the cities of Iraq without exception.

He added in an interview with «morning« that finance is an important focus for the revitalization of economic sectors and contribute to the activation of all chock sectors that is providing construction materials, transportation and project requirements other as well as the marketing of the products of the projects, pointing out that the activation of the projects contribute to providing many job opportunities as well as sing about import a lot of goods and products.

Wide participation
He tempted to the central bank for small and medium-sized enterprises allocations important step to activate the output, indicating the importance that employs loans in the direction you set aside for him to contribute to the real development and gradually, noting that most of the banks will participate in the lending program. This aims to achieve expansion in lending base for the largest the number of beneficiaries and the achievement of the public interest.

Financial dues
He stressed the need for the private sector dues exchange which implements strategic projects, stressing that these benefits are granted a large number of skilled manpower opportunity to continue to work on various projects, pointing out that any stop working means adversely great on the family which requires speed up the exchange economy financial receivables and gradually to the various projects, which contribute to the revitalization of turnover within the country and do the work on a large scale opportunities.

Authorization to grant loans
Tempted he said that a number of banks have already begun to adopt the lending process and submitted applications to the competent committees at the central bank to give authorization to grant the loan, pointing out that the private banks committed to lending mechanisms issued by the Central Bank of Iraq, stressing the importance of a central supporter of the work of the private banking sector as It gets in the countries of the world. He stressed the importance of public institutions to open accounts in private banks and that there be specialized committees to the subject, especially as the Economic Commission directives in the Council of Ministers directed
So.

Housing finance
He said there are banks providing support to development in various sectors of the projects, including housing, including Union Bank of Iraq, which finances a residential compound of (2000) housing units in the Wasit province as well as entertainment complex in Diwaniya and thus find a great harmony between the private banking sector and project financing.

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