Banks and community initiatives

1/10/2018

Dr.. Bassem Ibrahimi
At the beginning of the new year, the Central Bank announced a new initiative for Tamkeen to support community and humanitarian projects, environmental and cultural activities and support youth talents to stimulate volunteerism. Iraq and the initiative of Baghdad, which began on December 1
the past.

A fund has been set up for the new initiative (Tamkeen), which currently includes about one billion Iraqi dinars, which the banks have collected. It will also continue to raise monthly donations of about half a billion dinars to sustain this initiative which is hoped to expand into a national initiative. Businessmen, companies and
community institutions .

This initiative comes within the framework of the recent trends drawn by the Central Bank of Iraq to bridge the relationship between the banking system on the one hand and the citizen on the other because of this important role in the definition of banks and the work carried out by the professional and community, especially in the face of the attack by some against the device And for purposes that do not advance to the protection of economic interest at the very least.

These initiatives will create a kind of leadership for banking institutions in general and for the central bank in particular in spreading the culture of volunteering and community work, as do most of the commercial and banking institutions in the developed world, where institutions that contribute to community businesses are exempted from a certain percentage of taxes. The
Government.

The initiative will produce indirect economic effects in addition to its direct social effects. These effects are gathering under the so-called welfare economy that many governments are trying to achieve.

However, the role of NGOs is also important and this is what we hope will be strengthened rather than attacked. This initiative even began to be attacked by some without reasonable justification, and here we must recall the similarity that says (if not a rose is not a thorn) so I hope to support this initiative to succeed because many people need the simplest financial support

And moral.

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