RACING: Private sector drive economic development and the government to launch its facilities

[Laid Back]

30 minutes ago, Wiljor said:

Right there with you Laid Back, its all good brother 👍

Its all GOOD my brother 😊🙏🏼

[screwball]

LOL

[yota691]

Expert: Facilitating lending mechanisms supports economic advancement

11:57 - 19/02/2019

 

 

 

Baghdad - Mawazine News 
The expert on economic affairs, Ghadir Al-Attar, on Tuesday, that the facilitation of lending mechanisms support economic advancement, stressing the need to dispense with the employee's guarantee in the case of lending. 
Al-Attar told Mawazine News that "it is necessary to dispense with the employee's guarantee in case of granting loans." 
He stressed that "the reality of lending to projects requires to be studied by banks, and that the company specialized bank guarantees role in guaranteeing loans." 
Attar pointed out that "the experience of lending adopted by private banks and guaranteed by the Banking Guarantees Company has achieved great success in various productive and service disciplines." 
The economic expert said that "supporting entrepreneurship projects for young people is very important and contains many problems within the community, most notably contain the problems of unemployment."
It is noteworthy that Rafidain Bank had previously announced it has a continuous loan portfolio, and can be a bank guarantees with insurance companies to cover future loan guarantees. Ended 29 / a 43

[6ly410]

Mosul hosts a joint meeting to activate the CBE's credit initiatives 

 

Banks Economy News _ Baghdad Held in the city of Mosul, a joint meeting between the Central Bank of Iraq and the Association of Iraqi private banks and a number of leaders of the private sector and banking departments in the province to activate the initiatives of the Central Bank of the private sector. A source in the Association of Private Banks, in an interview with "Economy News", that "under the supervision of the Central Bank of Iraq and the Association of Iraqi private banks held in the city of Mosul, the joint meeting between leaders of the private sector and banking departments in the province of Nineveh to activate the initiatives of the Central Bank of Iraq credit to the Iraqi private sector "He said. The source added that the meeting was attended by "the head of one-trillion-dollar initiative to finance small and medium enterprises Ahmed Ibrahim and the regional director of the Association of Iraqi private banks, Muhammad Munther," noting that there are a number of participants in the meeting, including "the Economic and Finance Committee and the Industry Committee and the Committee on Agriculture in The Nineveh Provincial Council, the directors of the branches of government and private banks operating in Nineveh, Nineveh Investment Commission, the Ninawa Chamber of Commerce, the Faculty of Management and Economics at Mosul University, the Engineers Syndicate, the Bar Association and a number of businessmen.  He stressed that "one of the most important points that were discussed obstacles facing banks in the city of Mosul and the search mechanisms to accept borrowing requests for small and medium-sized enterprises and identify the conditions of banks covered by credit coverage." Views 27   Date Added 02/25/2019

http://economy-news.net/content.php?id=15522

 

[10 YEARS LATER]

“ Joint Meeting “ .... good thing I haven’t lost my touch for rolling my own. Fire a few up, pass.’em around - NOW we’re gonna get stuff done ! 😎

[Laid Back]

59 minutes ago, 10 YEARS LATER said:

“ Joint Meeting “ .... good thing I haven’t lost my touch for rolling my own. Fire a few up, pass.’em around - NOW we’re gonna get stuff done ! 😎

Nothing like rolling your own😎🔥💨🤪

[Laid Back]

1 hour ago, Botzwana said:

Still waiting for Mexico to legalize totally.  We are so close.

Awesome 😎 👍🏼

I heard Mexico has good Mota 🤪

[jg1]

13 minutes ago, Laid Back said:

Awesome 😎 👍🏼

I heard Mexico has good Mota 🤪

The law enforcement down there probably dont want to legalize it as it brings in alot of revenues, as in mordida and recovered drug money. 

See, if they wanted to stop a majority of the crime and death by cartel and overdoses they would build the wall/ barrier. But the ones that are benefiting from the open boarders would rather keep it the way it is now as death is just a needed consequence of others to make money. 

[jg1]

4 minutes ago, Botzwana said:

As a gringo...I Will not touch it till it is full legal.

Because if you are caught with it, the federales will confiscate it and smoke up themselves. lol. 

[Laid Back]

1 hour ago, Botzwana said:

As a gringo...I Will not touch it till it is full legal.

I respect your decision.!

[yota691]

Rashid warns citizens to deal with any party to promote advances and loans

 

Thursday, March 7

 

 

Alsumaria News / Baghdad Al-Rasheed Bank on Thursday warned citizens against dealing with any party to promote advances and loans except branches.  The bank said in a statement received by Alsumaria News, a copy of it, that "citizens should not deal with parties outside the bank claims to be an intermediary to promote advances and loans," declaring "not responsible for any transactions or contracts take place outside branches."  The bank added that "its doors are open to receive all those wishing to obtain banking services," pointing out that "all the advances of employees and retirees are granted to holders of Nakheel card exclusively."     It is worth mentioning that Al-Rasheed Bank has started issuing loans and loans to employees and retirees in accordance with certain rules and regulations.

[yota691]

Rafidain directs its branches to resume loan transactions for citizens of all kinds

 

Monday 11 March

 

 

Alsumaria News / Baghdad  The head of the Rafidain Bank , on Monday, all branches to resume the promotion of loan transactions of all kinds and financial facilities, in addition to loans investment projects, indicating that the complaint will be filed against anyone who delays payment by the courts.  The bank's media office said in a statement received by Alsumaria News, a copy of it that "the branches to resume the promotion of loan transactions for citizens of all kinds with the need to discover investment opportunities and study comprehensively for new projects and commercial loans that can be set up to be properly archived and follow-up credit activity of branches Bank ".   He added that "the work of the branch, which has a delay in repayments in large numbers, will be stopped and no credit provision will be granted unless it is liquidated."  The office demanded that "the state departments and institutions oblige their employees to pay their debts and recover the bank's late rights, which are due to employees and citizens who fail to pay their money to spare them the legal consequences because they have caused damage to public money." The complaint will be filed against anyone who delays payment Before the courts ".  The Rafidain Bank began and since 2016 grants loans and advances to employees ranged between 5 and 10 million dinars according to certain mechanisms and controls.

[yota691]

Al-Rashed announces the granting of loans to buy cars without a sponsor

 

Banks Economy News / Baghdad .. Al-Rasheed Bank announced that it has granted loans for the purchase of cars without a sponsor, pointing out that the loans do not include production cars. The bank's media office said in a statement that the bank had decided to grant loans to the employees of the local government departments and their salaries with the bank loans for the purchase of cars and vehicles without a sponsor. The office explained that the instructions included all the conditions for the grant, including that the applicant for the loan employee on the permanent owner and holder of the card Nakheel exclusively received his salary under the card and that there is no other loan for the purchase of cars from our bank has not yet paid, indicating that these loans do not include production cars. Views 113   Date Added 03/14/2019

[yota691]

Global tender

Wednesday, March 13, 2019 29

 

Dr.. In the name of Brahimi

 

The importance of social responsibility in the world has become increasingly important as it has become a supportive approach to the official effort that institutions seek to implement and promote its principles in order to spread the spirit of partnership and enhance citizen confidence, as well as protecting the environment and achieving prosperity. Developed countries in this index, which includes a hundred and forty 

Country.

This indicator is based on a number of data related to the expenditure of each country and its allocation of voluntary time. Despite the existence of many Iraqi initiatives in the humanitarian and societal areas, the most predominant is the lack of organization or coordination, as well as the lack of governmental care for them , Which made these initiatives unclear or declared in order to serve the main objective, and some are used to promote media only.

We do not exaggerate if we say that the Tamkeen initiative launched by the Central Bank of Iraq at the end of 2017 is one of the most important and voluntary initiatives. It was based on Article 3 and Article 16 of the Central Bank Law No. 56 of 2004, We believe that the launch of a community initiative in which banks have a major role is an important step to enhance their social presence and their awareness of the requirements of the reality in which they operate.

The Iraqi banking sector has played a role that transcends the limits of conventional banking activities as part of an initiative aimed at supporting and financing activities and projects of a social, humanitarian, environmental, cultural and artistic nature as well as activities that contribute to the employment of manpower.

As of 1 January 2019, a total of two billion and 881 million dinars were distributed, 40% for cultural cases, 35% for community cases and 25% for humanitarian cases, which included many heritage, sports, health, environmental, artistic and folklore activities. To include other cases that promote the development goals of this initiative in Iraqi society, which may put us among the developed countries in the tender index 

Global.

[yota691]

Rafidain Bank: The granting of advances is exclusively through our branches

 

The Rafidain Bank logo

Banks Economy News Baghdad Al-Rafidain Bank announced on Saturday that the granting of advances will be exclusively through branches spread throughout Iraq, indicating that the introduction to advances is electronic.  "There are some commercial centers, institutions, NGOs and some private outlets published on social networking sites from time to time, news of the granting of advances to employees and retirees from Rafidain Bank for certain amounts," the bank's press office said in a press statement. The office called on employees and retirees to "not cooperate with these bodies," noting that "granting the advances shall be exclusively through branches of the bank deployed in the country and submit them electronically and subject to legal procedures to complete the grant of the employee or retired and a short period." It is noteworthy that Rafidain Bank began since 2016 granting loans and grants to employees and citizens under certain conditions and controls. Views 43   Date Added 16/03/2019

[yota691]

RAFIDAIN WARNS OF FAKE PAGES IMPERSONATING HIS NAME

 

38 minutes agoNews Agency News

 

Warned Rafidain Bank, on Saturday, from the pages of fake social networking sites that support the granting of advances and loans in cooperation with Rafidain Bank.

"There are some commercial centers, institutions, NGOs and some private outlets published on social networking sites from time to time, news of the granting of advances to employees and retirees from Rafidain Bank for certain amounts," the bank's information office said in a statement.

The office called on the employees and retirees to "not cooperate with these bodies," noting that "granting the advances shall be exclusively through branches of the bank deployed in the country and submit them electronically and subject to legal procedures to complete the grant of the employee or retired and a short period."

[yota691]

16-03-2019 08:57 AM

Rafidain renews his warning about phantom pages on social networking sites

 

 

Baghdad

The Rafidain Bank, Saturday, warned of fake pages on social networking sites that support the granting of advances and loans in cooperation with Rafidain Bank.

"There are some commercial centers, institutions, NGOs and some private outlets published on social networking sites from time to time, news of the granting of advances to employees and retirees from Rafidain Bank for certain amounts," the bank's information office said in a statement received by the news agency.

The office called on employees and retirees to "not cooperate with these bodies," noting that "granting the advances shall be exclusively through branches of the bank deployed in the country and submit them electronically and subject to legal procedures to complete the grant of the employee or retired and a short period."

It is noteworthy that Rafidain Bank began since 2016 granting loans and grants to employees and citizens under certain conditions and controls.

[yota691]

A new warning from Mesopotamia about fake pages claiming advances and loans in cooperation with him

Economy | 07:56 - 16/03/2019

 

 

 

BAGHDAD - 
Al-Rafidain Bank on Saturday warned of fake pages on social networking sites that support the granting of advances and loans in cooperation with Rafidain Bank. 
"There are some there are some commercial centers, institutions, NGOs and some private outlets are published on social networking sites from time to time news about the granting of advances to employees and retirees from the Rafidain Bank for certain amounts," the media office of the bank said in a statement received by " . 
The statement called on the employees and retirees not to cooperate with these entities and that the granting of the advances shall be exclusively through the branches of the bank deployed in the country and submit them electronically and are subject to legal procedures until the completion of the grant to the employee or pensioner and a short period.

[yota691]

Al-Rafidain issues a clarification on the installments of car loans

 

The Rafidain Bank logo

Banks Economy News Baghdad Al-Rafidain Bank on Saturday called on borrowers to pay the installments of car loans at the branches of the bank exclusively, stressing that he did not authorize any company, a contractor to sell cars in installments to citizens, the right to receive premiums.  The bank's media office said in a statement received by Al-Iktissad News that "customers who benefit from our car loans must pay monthly installments at the bank's branches exclusively to guarantee their right to pay in accordance with approved bank receipts." He added that the bank did not authorize any contracting company to sell cars in installments to citizens the right to receive premiums and the bank is not responsible for the fate of any payments outside the work of branches, "calling on borrowers to" expedite payment of their belongings of the funds of these vehicles to avoid legal conditions against them. " Views 14   Date Added 23/03/2019

[yota691]

Statement from Rafidain Bank regarding the installments of car loans

 

Saturday 23 March

 

 

Alsumaria News / Baghdad student Rafidain Bank , Saturday, borrowers pay the premium car loans at the branches of the bank "exclusively", stressing that it did not authorize any contractor with the company to sell cars in installments for citizens right to receive premiums.  The bank's media office said in a statement received by Alsumaria News, a copy of it, that "customers who benefit from our banking services for car loans to the obligation to pay installments monthly installments at the branches of the bank exclusively to ensure their right to pay in accordance with the original bank approved banking."   He added that the bank did not authorize any contracting company to sell cars in installments to citizens the right to receive premiums and the bank is not responsible for the fate of any payments outside the work of branches, "calling on borrowers to" expedite payment of their belongings of the funds of these vehicles to avoid legal conditions against them. "

[yota691]

SME Finance Initiative Participates in the 5th Job Fair of the University of Babylon

 

Part of the fifth post exhibition of the University of Babylon

Banks Economy News _ Baghdad The SME Financing Initiative participated in the fifth job fair held by Babil University with the participation of 54 companies.  He praised the President of the University of Babylon, Dr. Adel Hadi al-Baghdadi, in his speech during the opening of the job fair and attended by "Economy News", a funding initiative supervised by the Central Bank of Iraq and the Association of Iraqi private banks with the participation of more than 34 private banks working in the country aimed at financing small and medium enterprises and create Job opportunities for young people of their own.  He added that the initiative supports graduate students by relying on themselves and setting up projects and success stories in the private sector. Views 40   Date Added 03/25/2019

[yota691]

Al Rashed announces the names of companies approved by him to sell cars to employees

 

Banks Economy News _ Baghdad Rasheed Bank announced on Wednesday the names of companies approved by it to sell cars to employees.  The bank said in a statement received by "Economy News" a copy of it, "The companies approved by us to promote the transactions of loans to buy cars, which are granted without a sponsor to the holders of MasterCard Nakheel," noting that "the bank is not responsible for dealing with any undeclared entity from Before him in the media and the official website of the bank.  He added that "the names of the companies are the company Shirin, the company Al-Buraq hijacker, the company of Ibn al-Balad, Anwar Babel, Sama Western Company, the United Company, the company Albilad good, Zamzam spring." Views 28   Date Added 27/03/2019

[yota691]

Expert: The implementation of the law supporting the unemployed does small and medium enterprises

Economy | 02:55 - 27/03/2019

 

 

 

BAGHDAD - 
The economic expert, Ghadir Al-Attar, said Wednesday that the implementation of the law to support the unemployed properly will support the small and medium industrial enterprises in the country. 
Al-Attar said in a statement received by Mawazine News that "the economic problem experienced by the country is not by the laws currently in place but by the way they are implemented, as they need to be implemented in the right manner." He pointed out that "the law of support for the unemployed needs to apply more Accurate, although it has great economic advantages for the country. " 
He added that "the law to support the unemployed includes the establishment of a financial fund allows the granting of soft loans to the unemployed and a long repayment period and reduced financial benefits," stressing that "this law if applied correctly to be able to promote the local industry through support for small and medium enterprises."

[6ly410]

Kurdistan leans on private sector to emerge from economic downturn

By Rudaw 8 hours ago

 

 

 

A Kurdish entrepreneur works to build her business in the Kurdistan Region's capital city of Erbil amid an influx of business loans. File photo: Rudaw video

 

ERBIL, Kurdistan Region – The decline in job opportunities and increasing rate of unemployment has impelled the Iraqi government to allocate $1 billion to small businesses initiatives in a bid to create more jobs in the private sector, according to the Regional Trade Bank (RT Bank).

 

Over the past three years, nearly 10 billion dinars ($8.36 million) out of the amount dedicated by the Iraqi Central Bank have been lent for business initiatives by four private banks in the Kurdistan Region.

People who want to establish businesses can apply for short-term or long-term loans with the amount depending on the magnitude of the business.
 

Shadi Faqe is the owner of La Dolce Vida a small business in Erbil. She benefited from the federal government’s loan initiative. 

 

“You have expectations and allocate some money for whatever you do. You realize that the funds you have dedicated for the job you have started are insufficient,” she told Rudaw on Wednesday.

 

“I had some money and jewelry which I used to start my business. But it wasn’t adequate. That is why I thought about something else which would help me continue my business and that was a bank [loan],” Faqe added. 

 

Now, Faqe runs the cafe-restaurant where she says she employees 18 people by borrowing 50 million dinars with a 5-percent, 2-year fixed interest rate.

 

Faqe has paid back half of her loan and is looking to further develop her business.
 

The government’s move to help people set up their own businesses has made a difference in the lives of many. Creating job opportunities is a main consideration for a private bank loan.

 

Hamila Gardi, the executive manager at RT, has made loans in the Kurdistan Region and is looking to issue more for business initiatives.

“We have issued 152 loans which have created more than 650 job opportunities. I aim to issue 10 billion [dinars in loans] and thereby create 1,500 employment opportunities for the people of Iraq and Kurdistan,” Gardi said.
 

The Kurdistan Region is emerging from several crises including the Islamic State (ISIS) conflict, IDP influx, and global crash in oil prices.

 

With governmental reform to address a bloated public sector and diversifying its private sector, the Kurdistan Region hopes to return to the economic boom it experienced 10 years ago.

http://www.rudaw.net/english/business/28032019

[6ly410]

5 minutes ago, 6ly410 said:

$1 billion to small businesses initiatives

The 1 trillion initiative to support small and medium Projects

Edited March 28, 2019 by 6ly410