View Full Version : Advisor Central Bank: banks must be enabled on the government's development and trans

11-06-2009, 02:15 AM
Advisor Central Bank: banks must be enabled on the government's development and transfer of functions from comprehensive to specialist

2009-11-06 08:51:45 2009-11-06 08:51:45

BAGHDAD (Iba) .. Ray Central Bank of Iraq adviser to the necessity of activating the government's development banks and the transfer of functions of banks, including banks, to the specialist in accordance with the basic objectives that created by those banks at first.

Appearance, "said Dr. Mohammed Saleh told the independent press (Iba) today, Friday," the importance that the program of restructuring the state banks to adjust the conditions of banks, a specialist industrial, agricultural and real estate to take upon itself the task of granting soft loans to the private sector, loans with high grant element in terms of allowances and extended repayment and interest and other.

He noted that this matter comes under the principle Allatdzeiip in funding for the success of the big push in development.

He supported the idea of re-structure for support in the state budget and the adoption of prioritizing Aigvl productive activity to the private sector through outsourcing, capital of the three specialized government banks.

The condition that does not bear the balance sheets of banks mentioned by the state for support, but simply the exercise of its functions of financial intermediation and developing them to serve the development goals and ensure the financial depth of the country.

He stressed the importance of the benefit to receive private investment activity in Iraq, a measure of financial and economic benefits and immunities to ensure that promoted by the implementation of laws, rules and regulations prevailing.

Indicating the creation of new improvements to serve the climate for private investment in Iraq.

It should be noted that professionals in the banking Shan asked to approve a law for the banking and insurance sector development to serve the economic reality

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11-08-2009, 12:04 AM
Good post Sykes, thank you!

11-13-2009, 11:42 PM
They have to encourage private investment.