Proposals for development projects

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Proposals for development projects

18/12/2017 12:00 am  Saad al-Tai Government and private banks play a pivotal role in most countries of the world in activating and leading economic development in their countries with huge financial resources that can be employed in various types of projects and joints of the national economy, which will move it and develop it to serve as pumping blood in the veins of the economic body to sustain life , This role is not limited to a specific chapter of the joints of the economy, but extends to most of the projects and economic sectors in the country. In Iraq, there is a long-standing phenomenon that many citizens spend their money in their homes; some of them save their money in banks and make up  very little of their money . .  If the citizens are keen to save money turned into a very large monetary block at the banks may exceed hundreds of billions of dinars, except hard currency owned by some, which drives banks to have capital is large enough to be financier of giant projects of all  kinds.  This requires the development of economic plans by these banks to provide loans to economic projects of all types, whether industrial projects, agricultural, service or construction. The reluctance of citizens to save money and prefer home-based economy is due to a lack of awareness of the culture of bank savings, and some of them are afraid of risk or for legitimate reasons (such as ribatism resulting from the deposit of these funds), as well as other factors that increase the weak demand for bank savings Regulatory framework for banks. And the majority of banks have few branches concentrated in cities, while rural areas or far from the centers of cities there are no branches of banks, which means the absence of banking services for millions of people living in these areas that lack these services, which means the absence of billions of dinars from This requires the organization of campaigns to raise the awareness of citizens about the importance of saving the bank and what will be realized for them as a result of that and what will be achieved for the national economy in general if the banks are well managed the money by way of Which is in the interest of the economic development of the country by financing the projects that drive the  national economy  .  If citizens' holdings become savings in banks, they will certainly be able to increase the financing of many and varied economic projects and help Big.  And in this goes the French economist Jean Sai that the supply generates demand and this means that income must be spent all of it in consumption or investment; here it is the first, especially in the circumstances of our country and the necessities and needs of development, to be spent income that was converted to savings Banking to investments whose economic return is rewarding to savers and to the national economy in general, by supporting projects of various kinds with the necessary financing for their establishment through loans provided by these banks to projects.  The process of spreading banking awareness among citizens and motivating banks to develop plans to finance various types of projects requires the cooperation of various institutions responsible for the management of the national economy and government and private banks with the media and economic institutions and centers to develop a comprehensive and integrated plan to increase public awareness of the importance of saving and its benefits. The organization of public awareness campaigns through direct contact with citizens. It should also work on developing the necessary plans to finance economic projects of various kinds by banks and setting priorities for them, Dah economic development in our country and the economy strengthens and stimulates the   national.