Association of private banks: private banks are able to finance development projects because it has a large financial surpluses

24-05-2013 11:05 AM


Baghdad (news) .. Director Altnqive announced the Association of private banks Abdul Aziz Hassoun, all large financial surpluses in private banks, stressing their ability to finance investment and development projects in the country.

Hassoun said (of the Agency news): The private banks are ready to finance all development projects in the country because of possession of a large financial surpluses, but they are looking for government guarantees to finance operations.

He added: guarantees come through pledges made by government departments, where you convert the dues of contractors and suppliers for contracts concluded with them to private banks for the purpose of disbursement of funds to them, so that the process be organized and fundamentalist.


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