Al-Nassiri: Calls for the establishment of the National Fund for Emergency

by **claud39** Tue Mar 17, 2020 9:12 am

Al-Nassiri: Calls for the establishment of the National Fund for Emergency

17/03/2020

Economy News _ Baghdad

The advisor of the Iraqi Private Banking Association, Samir Al-Nusery, called on Tuesday to confront the Corona pandemic and secure financial allocations to control the epidemic and stop its spread in the country by establishing the National Emergency Fund,
praising the initiative of the Central Bank of Iraq and government banks to donate up to 40 billion dinars and deposit it in a private bank account and invite the private sector And banks to contribute to it.

He also praised the efforts being made by the Iraqi Private Banking Association by calling for the creation of a care and treatment site for Corona patients.

Al-Nusairi stressed that the initiative of the Central Bank and banks is a humanitarian initiative that emphasizes the societal goal of the banking sector and is a step that needs to be strengthened and converted into a project to establish the National Fund for Emergencies, which must be contributed by the contributions of the private sector, businessmen and investors, and that the government contribute to it in a specified rate and that it be maintained according to a system and instructions similar to Tamkeen Fund supervised by the Central Bank or the Ministry of Finance and managed by a joint board of directors and subject to the supervision of the Financial Supervision Bureau. The fund’s deposits must consist of: -

* An amount allocated from the government representing a deduction of 50% of the salaries and allocations of the three presidencies and the House of Representatives and For special degrees in ministries and independent bodies.

* Banks donations

* Donations from the private sector with follow-up from the various unions, sectoral associations and governmental agencies contracting with the private sector.

Aid and grants from relevant international organizations.

Provided that the government begins issuing instructions to exempt the private sector from taxation for the year 2020 and at rates determined by the General Tax Authority, and that the central bank motivate banks and encourage them to donate to stop and defer the imposition of fines imposed on them at the present time for the period it deems appropriate this year.

Al-Nusairi concluded his speech that the Fund’s work will continue after overcoming the Corona epidemic crisis, with a fixed allocation in the general budget to confront epidemics, disasters and emergency situations.

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