Informal finance

by **claud39** Sun Feb 10, 2019 1:42 pm

http://alsabaah.iq/4485/%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D8%B1%D8%B3%D9%85%D9%8A

[size=36][rtl]Informal finance[/rtl][/size]

Sunday 10 February 2019

Informal finance 980-Alsabbaq

Mohamed Sherif Abu Maysam

Among the most important axes that guarantee the non-recourse of the public to non-official means of trading and financial transactions is the existence of financial services that are accessible to all without complication through the legal channels represented by licensed banks, and to ensure their submission according to series procedures that contribute to the establishment of trust among the public and these banks should To take into account the cost of banking operations at the lowest prices and to overcome loopholes and bureaucracy during the provision of services, and to contribute to the withdrawal of cash mass Almqzzp public or those that are traded outside the area of banking without being subject to any control and supervision in the Trading and official transactions.

As the method of informal trading of funds, does not stand in harm when the likelihood of exposure to the public cases of erecting or imposing excessive fees, but also extends this damage to hurt the area of banking and creates confusion in the macroeconomic scene, when a large block of cash out of this area Trading.

As banks around the world employ all their capabilities to reach the social segments that do not have banking transactions, especially the low-income groups, by providing banking services commensurate with their needs, and thus seek to achieve economic development through the circulation of cash in the arena of banking and credit Towards real economic objectives.

Although the central bank has been striving for two years to devote financial instruments, and trying to oblige banks to provide facilities to the public and protect them by reducing the slack in providing banking services and restoring confidence between these institutions and the public, as well as employing many technologies and electronic programs in the service delivery systems , However, many categories of the public are still outside the commercial banking area due to the continued work of routine methods and complexities in many financial institutions, and the failure to apply the terms of "financial inclusion" available, commensurate with the reality of the needs of the community groups Yeh.

The best evidence of this is the recent fact of trading through the urgent need for cardholders to pay electronic finance, which consists of retirees, the majority of them, where the owners of some payment offices to reserve the card of the pension in return for a loan of up to ten million interest rates up to about 10 percent and then the owner The monthly office to hand over the salary of the retiree after deducting the monthly installment with the interest rate on the loan, a financing method similar to what banks do with a slight difference related to the lack of complications in granting the loan. This has made the public resort to informal funding.