Central Bank launches amounts of medium and small loans early July

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Central Bank: Global markets will receive bonds that will be launched by the government

BAGHDAD / justice - 07/05/2015 - 4:21 | Hits: 23

The member of the Board of Directors of the Central Bank Majid picture that global markets able to receive government bonds that will be launched this year, 

Indicating that the international reputation of Iraq of good financial terms, despite all the circumstances and to the commitment of the government to pay debts Alih.oukal the picture that "the subject depends on the credit rating of Iraq and the government is working to get a credit rating," explaining that "the global markets to receive government bonds exist, but there are measures must be complemented by the launch of these bonds. "He added that" the international reputation of Iraq from a financial point of very good despite all the circumstances in, and Iraq is committed to paying all the debts that his trust "is noteworthy that the central bank launched the Small Enterprise Fund worth trillion dinars in cooperation with the Association of Banks ist, and these loans help open more than 20 000 Aml.ahar chance that the central bank is expected to issue instructions from the government to be launched $ 5 billion to help Iraq to bridge the budget deficit bonds.

 

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Posting completion of the financing of small and medium enterprises

 

 

       

7/9/2015 0:00 

BAGHDAD - the joy of pumice 

 the central bank announced the completion of the controls of his initiative to finance small and medium projects and submit them to the governor with a view to approval and approval. 

Director General of the release of the Bank Ihsan al-Yassiri said the "morning" in a statement to the possibility of the issuance of checks and working out during the next two days, as it has been complete them by the competent committees awaiting approval by the Governor of the Bank. 

As Yasiri said identifying controls and mechanics of lending and recovery and distribution of ratios between all the productive sectors in the country for coverage of funding, pointing to the possibility of the banks concerned the promotion of granting loans to small and medium-sized enterprises transactions in respect of the month of July and to provide bottom line in the month of August , Bank of the compensation for the loans granted during this month. 

The Bank of the UNESCO since the launch of the Central Bank initiative promoting about 20 treatment of loan and pending the issuance of instructions and allocations for granted to borrowers, as the management of the bank has worked in collaboration with the Association of Banks in conjunction with the relevant committees in the Central Bank to put mechanisms and controls for the financing of small and medium enterprises to benefit from the amount of "trillion dinars." 

 It should be noted that the central bank decided last May to issue instructions to contribute to the financing of small and medium enterprises in order to achieve economic and social development through the support of this Alharia and run with outstanding skills the workforce, as the central allocated (trillion dinars) for the purpose of lending to those Almharia by banks operating in Iraq and wishing to selling out this project. This project targets or initiative agricultural sectors, industrial, housing, commercial, health, educational and tourism services, as the Bank determines the roof top of the loan granted by (50 million dinars), the recovery of 3 years for no more than with the possibility of extension for a period of one year with the approval of the central bank governor , at an interest rate not to exceed 5.5 percent (interest rate that the bank met by no more than 4 percent rate, and the percentage collected by the guarantor of no more than 0.8 percent, while the proportion met by the central bank to not more than 0.7 percent).

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Keywords: private banks can promote the transactions of small and medium-sized enterprises

 

      Friday   10   July   2015 | 10:58

 

 

 

Qurtas News / Baghdad

Governor of the Central Bank revealed on the Keywords, about the possibility of promoting private banks transactions of small and medium enterprises loans, indicating that it is possible to increase the volume of loans if the results of what has been achieved good development.

Keywords and said for "Ply News", "The central bank has held several meetings with representatives and heads of private banks in cooperation with the Association of Banks in order to clarify and explain the controls of his initiative mechanism for financing small and medium enterprises, lending and recovery and distribution of ratios between all the productive sectors in the country for coverage of funding ".

Keywords and added that "the relevant committees in the bank worked dramatically simplify these procedures and support this initiative," pointing out that "private banks that can promote transactions for borrowers to give them the implementation of small and medium for the month of July current projects loans."

Keywords and said that "the central bank will compensate those loans granted by the bank concerned during the month following the granting of loans to be there smooth and speed in handling."

Keywords stressed that "the central bank will be watching closely the financing of such projects and disbursed as well as the way he would decide later increase the absolute size of the loan to banks amounting trillion dinars but after the results of those projects and the development of sectors operating in Iraq."

It should be noted that the central bank decided last May to issue instructions to contribute to the financing of small and medium enterprises in order to achieve economic and social development through the support of this project and run with outstanding skills the workforce, as the allocated amount (trillion dinars) for the purpose of lending to such projects through banks operating in Iraq and wishing to selling out this project.

This project targets or initiative sectors (agricultural, industrial, housing, commercial, health, educational and tourism services), as the Bank determines a higher ceiling for the loan granted to (50 million dinars), the recovery of 3 years for no more than with the possibility of extension for a period of one year with the consent of the governor of the bank Central, at an interest rate not to exceed 5.5 percent (interest rate that the bank met by no more than 4 percent rate, and the percentage collected by the guarantor of no more than 0.8 percent, while the proportion met by the central bank to not more than 0.7 percent).

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Adoption of lending to small and medium enterprises instructions

 

 

         

7/15/2015 0:00 

Bitter melon: confident of the ability of banks to make it a success 

 BAGHDAD - morning 

head of the Iraqi private banks association said that the current stage requires concerted efforts to promote the economic and financial reality of the country and mitigate the impact of crises and shocks that beset the developing economies, including Iraq. 

He expected President of the Association meek ​​Handal to witness Sector Iraqi private banking large and significant development after the managed Association things settle with the new Central Bank on the road to a fruitful and constructive cooperation of cemented financial situation and strengthen the role of the banking sector and its contribution to development. 

He said Handal told the "morning" on the sidelines of the General Assembly meetings of the Bank of Assyria International said signs of several carried out by the Central on the road to support and assign banks and direct specialized banking activities, what would make them exercise their competencies to the fullest. 

He added that the central decision to launch an amount trillion dinars to lend to the private sector through private banks is the first after the experience touch the need for a supportive role for development. He described the relationship between the Central Association as the best way to restore confidence in banks by the public on the one hand and raise its reputation among international banks as reflected in the development of the banking performance on the one hand Thanih.wachar to other supportive measures concerning the lagging banks and research the possibility of assistance and advancement again to her husband in the process of work banking after the reform would. 

He Handal confidence that the Iraqi private banks to be able to deal with this initiative and what lead to the success of its goals in providing job opportunities for the unemployed and provide products and small industries and local medium contribute in supplying the Alsoq.ovi answering the question: "morning" launch date of loans to small and medium-sized enterprises revealed Handal for the committees in charge has ended its status and has ratified and the banks are now receiving requests for consideration and decision in lending soon. 

For his part, Executive Director of the Association of Iraqi private banks Ali Tariq said that the Association is closely following the reality of the work sector private banking and supports all banks by creating a perfect her airs work in collaboration with the Central Bank, pointing out that the banks were able to exercise its work despite inter challenges and today we find service providers and check earnings and maintain its employees and its customers, despite the financial hardship, noting that we are today in this meeting, we find Bank of the UNESCO as one of the brightest central banks that have committed instructions and was able to raise the capital to 250 billion and made ​​a profit and a contract with an international company to monitor the final accounts and the evolution of his credit. 

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A proposal for the establishment of micro-finance fund

 

 

         

7/16/2015 0:00 

 BAGHDAD joy of pumice 

in order to get the economy moving in the country and support for small projects to provide many jobs and attracting manpower, economic central bank adviser called for the establishment of a fund in one of the state banks with a capital of 100 billion dinars, aimed at lending to micro-enterprises (Microfinance) through private financial institutions.

Counselor for Economic Affairs in the Prime Minister d. Abdul Hussein Al-Anbuge pointed out that the aim of establishing this fund is required at least for projects funding of 20 million dinars, and even the world that are not targeted by banks at the central bank initiative border (1) trillion dinars to finance small and medium enterprises (SMEs), and the possibility of agitated by Fund management in the Bank to be considered the "owner". 

He said Anbuge "morning" that "microfinance guestrooms institutions (12) scattered Foundation in Iraq could open a private in the government concerned bank accounts to deal with this fund exclusively for the purpose of making use of his money, and are strengthening the monthly accounts in amounts according to the conversion of the Fund's account to the account of the institutions by order of the central bank notices. 

and works MFIs up to lend a minimum do not target banks, as the maximum size of the loan granted by these institutions up to twenty million dinars, and the rate of (3500) dollars to the borrower Wahid, and is working to manage lending through in accordance with international standards modern systems, and the accounts audited according to international standards by international auditing institutions known. 

He Anbuge the possibility of the expansion of microfinance institutions lending of their funds, beyond their ability lending, taking into account the Fund's ability to strengthen accounts, to be fed monthly as far as the expense of the loan for this new product in accordance with the offering documents for the management of the fund, he did not account used for any other purpose that is directed lending and the report and documents. 

The central bank urged the adoption of the financial bags organizations as collateral, Chancellor saw that repayments for this loan must to be in private institutions accounts of this fund for this purpose, and thus achieve the central bank control over the Fund and the accounts of its own institutions, as well as ensure that the possibility of organizations to dispose of Special Accounts. 

and achieved MFIs rate payment of not less than (99) percent for lending operations which They practiced, where these institutions cover most of the area of Iraq, especially the rural areas that lack financial services, as well as it has provided more than 600 thousand loan during the eleven years (since 2004), one billion and four hundred dollars, and created jobs directly to more than ( 180) thousand jobs, as maintained on the sustainability of more than (500) A project of the meridian, as well as the microfinance industry has achieved more than 12 million banking movement between withdrawals and deposits to borrowers. 

The central bank launched earlier initiative to support the establishment of small and medium enterprises through private banks represented customize it amount trillion dinars for private banks to lend to people-oriented in order to set up their projects so as to contribute to the advancement of the economy and create jobs contribute to absorb unemployment.

 

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