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Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget

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Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget Empty Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget

Post by claud39 Sun Feb 14, 2021 1:18 pm

Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget


February 14, 2021



Representative economics: Include a paragraph to increase the capital of government banks in the Iraqi budget 1024








Mubasher: The Parliamentary Economic and Investment Committee in Iraq announced the agreement to include a paragraph to increase the capital of government banks.



This came during a statement of the committee received by the Iraqi News Agency (INA), today, Sunday, that the First Deputy Speaker of the Iraqi Parliament, Hassan Karim Al-Kaabi, hosted the directors of government banks and a representative of the Central Bank of Iraq.



The committee indicated that the meeting came to discuss the mechanism of banks ’work and the extent of their contribution to economic development and to discuss the implementation of the Iraqi Central Bank’s initiative of five trillion dinars, which includes the sectors of industry, agriculture and housing and directing it in a manner that serves the country's economic development and moves the economy’s wheel, in the presence of a number of deputies of the Economic and Investment Committee, to discuss Mechanism for implementing the initiative. "



Committee Chairman Ahmed Salim Al-Kinani confirmed, according to the statement, that “this initiative was originally launched by the Economic and Investment Committee more than four years ago and was prepared in full and in detail for industrial and agricultural development and the development of the investment sector in the field of housing and other investments related to making a qualitative leap in the development of small and medium enterprises. And the employment of manpower, indicating that the bureaucracy that governs state institutions has delayed this initiative, which has made it lose a large part of its economic goals.



He explained that "the Economic and Investment Committee, and with its legislative and supervisory work, believes that there is a weakness in the mechanism of implementing this initiative, especially in the industrial and agricultural sides, which are the two important aspects that we must focus on in the initiative since they are the main drivers of all economic activities in the country and its weakness lies in the lack of funds allocated to it within the initiative." .





 Kanani pointed out to the great complications in terms of the required guarantees, and this reduces the chances of the success of the initiative within these two sectors, while we see that the initiative is directed to the housing loan, which is the purchase of housing, which invigorates speculators in small real estate and leads to competition for small real estate instead of moving towards building housing that revives Large sectors of the economy and the employment of the labor force. "



Al-Kinani explained that “it was agreed to approach the Finance Committee to include in the general budget a paragraph concerning increasing the capital of government banks in a manner that qualifies these banks to carry out their economic and development tasks, and a number of important issues that must not be absent from the initiative, including ensuring the smooth entry of raw materials to factories Inside Iraq to ensure the continuity of production and non-stopping it, as well as the guarantees required for loans for industrial projects that must take into account the percentage of the loan from the required guarantee of real estate.

 

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claud39
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