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The Association of Banks holds a symposium to discuss the Central Bank's lending initiative

 

237 Economie 01/12/2022 13:52 Baghdad today -

Baghdad Today, Wednesday, the Iraqi Banks Association organized a symposium to discuss the Central Bank’s lending initiative. And the correspondent of the agency (Baghdad Today), said that the Association of Iraqi banks organized today a session to discuss the initiative of the Central Bank to lend. He added that the symposium was held under the auspices of the Central Bank of Iraq, and in the presence of the Baghdad Agency today.

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The Central Bank issues recommendations to private banks.. What about the interests of its loans?

1412022102fbob8qbzy3qwtpmpytqn47pbde9pmd
 

PM:01:02:14/01/2022

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The Central Bank of Iraq confirmed, on Friday, that it will not place any interest on the housing loan initiative with very low interest for project loans, and reveals its recommendations for private banks.
 
The Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, said in a statement seen by NRT Arabia, today (January 14, 2022) that "the Central Bank encourages many banks to reduce interests, and to expand them to provide banking services and include all beneficiaries."
 
He added, "The Central Bank urges banks to reduce the gap between the benefits of borrowing and lending," noting that "some banks grant interest with high loans and few benefits to depositors, and this depends on the extent of the risks and the feasibility of borrowing. A comparison is made between accepting the deposit, because the bank cannot grant returns. It is high for investors, because he may have borrowed money and seeks to achieve between the interest he achieves for the customer and the cost of the money he obtained in order to lend it.”
 
He explained, "All these matters do not apply to the initiative of the Central Bank, because the initiative is for housing loans and they are without interest, but with a single administrative commission," explaining that "loans on other projects, whether agricultural, industrial or commercial, have very low and diminishing interests."
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The first Iraqi bank to open a branch in the UAE

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PM:12:41:14/01/2022

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Today, Friday, the International Development Bank announced the opening of a branch for the first Iraqi bank in the UAE.
 
A statement by the Development Bank, a copy of which was received by NRT Arabic, (January 14, 2022), stated that "it obtained a license from the Central Bank of the Emirates to open the first regional branch in the Emirate of Dubai and under the umbrella of the Central Bank of Iraq."
 
He added that "this bank is the first private bank in the United Arab Emirates to be a center and a starting point for strengthening joint cooperation between the two countries, and activating financial and commercial exchange to serve the Iraqi economy in its public and private sectors."
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The Central Bank of Iraq: We encourage many banks to reduce the interest rates on loans

The Central Bank of Iraq: We encourage many banks to reduce the interest rates on loans
archival
 

 

Mubasher: The Deputy Governor of the Central Bank of Iraq, Ihsan Shamran Al-Yasiri, said that the bank encourages many banks to reduce interests, and to expand them to provide banking services and include all beneficiaries.

And the "Central" agent added, in statements to the Iraqi News Agency (INA), today, Friday, that the bank urges banks to reduce the gap between the benefits of borrowing and lending.

Al-Yasiri pointed out that “some banks grant interest with high loans and low interest to depositors, and this depends on the extent of the risks and the feasibility of borrowing, and a comparison is made with the acceptance of the deposit.

And he indicated that "all these matters do not apply to the initiative of the Central Bank, because the initiative is for housing loans and they are without interest, but with a single administrative commission," explaining that "loans on other projects, whether agricultural, industrial or commercial, have very low and diminishing interests."

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The Central Bank of Iraq reveals the value of the benefits of 4 types of loans

03:07
The Central Bank of Iraq reveals the value of the benefits of 4 types of loans

Fourth - Baghdad

 

Today, Friday, the Central Bank of Iraq clarified the value of interest on 4 types of loans, while revealing its recommendations to banks.
The Deputy Governor of the Central Bank, Ihsan Shamran al-Yasiri, said, according to government media, that "the Central Bank encourages many banks to reduce interest rates and expand them to provide banking services and include all beneficiaries."
He added that "the Central Bank urges banks to reduce the gap between the benefits of borrowing and lending," noting that "some banks grant interest with high loans and few benefits to depositors, and this depends on the extent of the risks and the feasibility of borrowing. A comparison is made with between accepting the deposit, because the bank cannot grant returns. It is high for investors, because he may have borrowed money and seeks to achieve between the interest he achieves for the customer and the cost of the money he obtained in order to lend it.”
And he indicated that "all these matters do not apply to the initiative of the Central Bank, because the initiative is for housing loans and is interest-free, but with a single administrative commission," explaining that "loans on other projects, whether agricultural, industrial or commercial, have very low and diminishing interests."

 
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International Development Bank opens a branch in the UAE
 
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international development bank logo
 https://economy-news.net/content.php?id=27116 

 banks


Economy News - Baghdad 

The International Development Bank announced that it had obtained a license from the UAE Central Bank to open a branch in Dubai. 

The bank said in a press statement, "The International Development Bank obtained a license from the UAE Central Bank to open a regional branch in the Emirate of Dubai and under the umbrella of the Central Bank of Iraq, which is the first private bank in the United Arab Emirates to be a center and a starting point for strengthening joint cooperation between the two countries and stimulating financial and commercial exchange." To serve the Iraqi economy in its public and private sectors.

 
 
Views 175   Date Added 01/14/2022
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 Baghdad: Hussein Thaghb 
A specialized dialogue session discussed the tracks of the Central Bank’s lending initiative and what has been achieved on the ground, the challenges facing lenders and borrowers, and how lending mechanisms can be facilitated, to include all regions of the country without exception, although this depends on the extent of the spread of the network of banks in cities and towns, at a time The initiative amounts to 15 trillion dinars. 
The session, organized by the Association of Private Banks and sponsored by the Central Bank of Iraq and a group of experts, stressed the importance of expanding the initiative to include the largest number of young people who have ideas for future projects, which represent an important axis in the development process that the country seeks.
 
clean energy
The Executive Director of the Association, Ali Tariq, said: “Providing liquidity to finance projects is not an easy matter, and from here the Central Initiative was launched to support small and medium enterprises in all regions of Iraq, without exception, and according to the banking presence in those regions,” noting that “loans are now being offered.” for clean energy projects, in line with global trends in moving towards non-fossil fuels.
 
Labor market
Deputy Governor of the Central Bank, Dr. Ammar Khalaf, said: “The central bank’s combined initiatives have touched 15 trillion dinars, of which it has been granted, and others are on the way to lending,” noting that “the initiative goes back to the idea of Dr. The appearance of Muhammad Salih, who presented it several years ago in order to stimulate the national labor market and the national economy.”
 
Overcome difficulties
Khalaf indicated that «the Central Bank seeks to overcome the difficulties facing borrowers, in order for the initiative’s funds to reach the largest segment of the population. 
Young".
Khalaf stressed that «the Central Bank launched the initiative in order to provide financial liquidity to finance small projects, increase financial inclusion and reduce the high costs of lending, as well as to address the unemployment rate, as well as the exposure of the Iraqi economy to stagnation after the events of the year.
2014».
total credit
Regarding the contributions of the initiative, Khalaf stated that it constitutes 30% of the total credit granted to the private sector, and the initiative contributes 8% of the gross domestic product, as well as 17% of the total private sector deposits, and it constitutes 18.4% of the total actual investment spending for the period Between 2016-2021, he pointed out that the interest rate for the initiative’s loans is 3.8%, compared to 11.5% when it comes from the banks’ own funds.
He pointed out that “the amounts granted by sectors amount to 28% in the commercial sector, 5% in personal loans, and loans to the service sector amounting to 28%. 
22%, in addition to 15% for the industrial sector, and the housing sector received the largest percentage of 29%, as for the agricultural sector, its poor loans amounted to
1 %».
 
smart initiative
Financial Adviser to the Prime Minister Dr. Mazhar Muhammad Salih described the Central Bank's initiative as smart and said: "The initiative was in line with global developments, and the largest mass of the initiative's amount was directed towards the housing sector, due to the great demand for housing units by the citizen, to reduce the population pressure experienced by the country." 
And Saleh indicated that "monetary policy has now shifted to the side of assets, at a time when the whole world is supporting its assets."
Banking advisor Samir Al-Nusairi called for greater facilities for the initiative loans adopted by the Central Bank, and not to restrict controls, noting that “the banking system represents the first link in the economy and stimulates its joints, so the idea of the lending initiative was adopted.”
 
Authentic commitment
Director General of the Insurance Bureau, Israa Saleh, indicated that “the insurance sector represents a real support for all economic sectors and covers risks for loans, and thus is an effective supporter of the development process that the country seeks, especially since insurance risks differ from the citizen from the investor.”
She stressed that "insurance companies have a genuine obligation to pay the remainder of the loans and differ from the commitment of the guarantor."
The representative of the Federation of Chambers of Commerce, Maitham al-Bolani, indicated that the lack of demand for industrial loans is due to the lack of competition, and the ease of doing business in Iraq is declining instead of progressing, as well as the complexity of investment transactions, which sometimes need two years, and here the government is required to facilitate these procedures. .
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 January 16, 2022
The Central Bank of Iraq congratulates the International Development Bank on the occasion of the opening of its branch in the United Arab Emirates

 



The Central Bank of Iraq congratulates the International Development Bank on the occasion of the opening of its branch in the United Arab Emirates
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhief, received the Chairman of the Board of Directors of the International Development Bank, Dr. Ziad Khalaf, congratulating him, the bank and the Iraqi banking sector on this important banking achievement.
His Excellency expressed his sincere thanks to the brotherly Central Bank of the UAE for its confidence in the Iraqi banking sector and for giving it this opportunity to one of our leading banks, stressing the need for the bank to make efforts to live up to the level of confidence we place in it, and the Central Bank of the UAE has placed it in it as well, and for the rest of the banks to follow the same approach in the future. .
 
Central Bank of Iraq
information Office
2022/1/16
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 January 16, 2022
Gold bullion and coin prices for Sunday 1/16 until Thursday 20/1/2022

 

( Citizens can review government and private banks to buy gold bars and coins )

Gold bullion and coin prices for Sunday 1/16 until Thursday 20/1/2022
the weight
Price/JD
picture/forward
Photo/Back
minted 15 g
1,420,250
 
 
coin 22 g

 

2,082,500

 

file-155047419319872.jpg
file-155047424067597.jpg
5 g ingot
445,000
file-155167974932800.jpg
file-15516798818313.jpg
slug 10 g
879,500
file-155167978087073.jpg
slug 15 g
1,322,250
file-155167980596158.jpg
slug 20 g
1,773,500
file-155167982617318.jpg
slug 25 g
2,226,500

file-155167984789586.jpg

 

ingot 50 gm

 

4,457,250  
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 January 16, 2022
The Central Bank of Iraq announces an increase in the allocations of its initiative to small and medium enterprises

 



The Central Bank of Iraq announces an increase in the allocations of its initiative to small and medium enterprises 
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, announced that the Central Bank has increased the amount of its initiative to lend to small and medium enterprises by an amount of one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars.
He stated during his visit to a number of projects that were funded through the initiative: "The central bank's lending initiatives have contributed to supporting the industry, agriculture, housing and trade sectors, and have come to constitute nearly 30% of the total credit granted to the private sector, and have contributed an important percentage to the GDP." , noting that there are some loans provided by the Central Bank that are granted without interest but in return for an administrative commission only, and that the one trillion dinars initiative contributed to creating thousands of job opportunities and financing nearly three thousand housing units throughout Iraq, and its implementation rate has exceeded 90 %, which prompted us to increase its amount by an additional trillion dinars. 
The Governor concluded his speech by saying: The monetary policy tools have greatly contributed to supporting the economy and overcoming the financial crises that occurred in the country.
It is noteworthy that the Central Bank launched multiple lending initiatives, including the initiative to finance small and medium projects and the initiative of large projects amounting to five trillion dinars to finance specialized banks, as well as three trillion dinars to support the real estate sector, and finally the clean energy initiative in the amount of one trillion dinars, bringing the total amounts allocated to development initiatives more of fifteen trillion Iraqi dinars.
 
Central Bank of Iraq 
information Office 
January 16, 2022
file-164232128528547.jpg
 
file-164232134836623.jpg
 
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The Central Bank of Iraq raises the allocations of its initiative to small and medium enterprises, one trillion dinars

The Central Bank of Iraq raises the allocations of its initiative to small and medium enterprises, one trillion dinars
The Governor of the Central Bank of Iraq during his visit to projects funded by the Small and Medium Enterprises Lending Initiative
 

Mubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, announced that the Central Bank has increased the amount of its initiative to lend to small and medium enterprises by an amount of one trillion dinars; Thus, the total amount allocated for this goal will be two trillion dinars.

Makheif said, during his visit to a number of projects that were funded through the initiative, today, Sunday, that the central bank’s lending initiatives contributed to supporting the industrial, agricultural, housing and trade sectors, and became nearly 30% of the total credit granted to the private sector, and contributed an important percentage to the output. gross domestic product, according to a statement by the Central Bank.

The governor added that there are some loans provided by the Central Bank that are granted without interest, but in return for an administrative commission only, and that the one trillion dinars initiative contributed to creating thousands of job opportunities and financing nearly 3,000 housing units throughout Iraq, and its implementation rate exceeded 90%. Which called for an additional trillion dinars to be increased.

The Governor of the Central Bank stressed that the monetary policy tools contributed significantly to supporting the economy and overcoming the financial crises that occurred in the country.

It is noteworthy that the Central Bank launched several lending initiatives, including the initiative to finance small and medium projects and the initiative of large projects amounting to 5 trillion dinars to finance specialized banks, as well as 3 trillion dinars to support the real estate sector, and finally the initiative to finance clean energy in the amount of one trillion dinars, bringing the total amounts allocated to development initiatives more of 15 trillion Iraqi dinars.

It may be a photo of 10 people, people standing and suit

It may be a photo of 7 people, people standing and outdoor

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The Central Bank reveals an increase in the amount of its initiative to lend to small and medium enterprises
  
{Economic: Al Furat News} The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, revealed, on Sunday, that the Central Bank’s initiative to lend to small and medium enterprises amounted to one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars.

A central bank statement received by {Euphrates News} stated that, during his visit to a number of projects that were financed through the initiative, Makhhib explained that “the central bank’s lending initiatives contributed to supporting the sectors of industry, agriculture, housing and trade, and became nearly 30% of the total credit.” granted to the private sector, and contributed a significant percentage to the GDP.

He pointed out that "there are some loans provided by the Central Bank that are granted without interest, but in return for an administrative commission only, and that the one trillion dinars initiative contributed to creating thousands of job opportunities and financing nearly three thousand housing units throughout Iraq, and its implementation rate has exceeded 90 %, which prompted us to increase its amount by an additional trillion dinars.

The Governor of the Central Bank concluded, saying, "The monetary policy tools have contributed greatly to supporting the economy and overcoming the financial crises that occurred in Iraq."

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 articles


Samir Al-Nusairi*

The Governor of the Central Bank emphasized on a field tour of the strategic and development projects financed by private banks in accordance with the Central Bank’s development and economic stimulus initiatives in 2021. 

These initiatives will continue in the current year in order to achieve the central bank’s methodology for economic reform. The bank had previously announced in a specialized symposium held by the Association of Iraqi Private Banks in the presence of the Secretariat of the Council of Ministers, the National Investment Commission, the Insurance Bureau, the Board of Directors of the Central Bank, university professors and representatives of various media about the detailed results achieved from the initiatives Central Bank lending in 2021 and focus on the stimulus and development dimension of the initiatives that achieved the operation of more than 9000 projects and the employment of up to 40,000 unemployed citizens and the implementation of 90% of the one trillion dinars initiative only
allocated to private banks, and a trillion new dinars were allocated for the current year and another trillion dinars for renewable energy projects. The total amount of initiatives from 2015 to 2021 is (15) trillion dinars.

Among the most prominent results of the initiative was the achievement of 30% of the cash credit granted to the private sector, 8% of the gross domestic product, and 18.4 of the total actual investment spending for the years (2016-2021), and the percentage of financial inclusion increased to 25%, and it contributed to the financing of important strategic projects and achieved success experiences. It is evident in pioneering small and medium projects with great economic and societal returns.
What matters to us is the success of the Central Bank’s initiatives in 2021, as the strategic measures adopted by the Central Bank within its plan to revitalize the economy to restore confidence in the banking sector, as private banks have proven that they are committed to implementing and succeeding lending initiatives in accordance with the controls, regulations and banking instructions issued by the Central Bank in the governorate. on financial stability. The development of small and medium enterprises and focus on housing projects.

 And that the observer and observer of banking affairs in 2021 clearly notes the primary role played by the Central Bank with its executive, supervisory and control measures on the banking market in Iraq, according to what was targeted in its second strategy, which it began to implement since the beginning of 2021.

Assets, deposits, capital and cash credit granted have increased at advanced rates compared to the previous two years, and the competent departments of the Central Bank and the Association of Banks and Banks have worked to proceed according to the programs set to reach the goal, of which the large percentage was achieved, and we hope to achieve the goals set in the stability strategy by 100% in 2022.
What confirms the correctness of the Central Bank’s actions is the increase in foreign cash reserves to more than 64 billion dollars, which is an indicator that confirms its success in maintaining its foreign reserves despite the economic and financial challenges that Iraq has suffered. In revitalizing the economic cycle, overcoming the state of economic depression and achieving stability, thus restoring confidence in the Iraqi economy and international banking transactions and its commitment to international banking and accounting standards, especially with regard to combating money laundering and terrorist financing. As a stabilization bank for the national economy in 2022, aiming to achieve the following -:

1 - Developing the Iraqi banking system and allowing it to be a lever for the economy and encouraging it to lend to stimulate the economy 

2- Converting banks to their main function and real work, which is lending for development.
And that banks that do not provide loans and banking facilities that help in development lose their meaning as banks, which requires a specific stance towards them from the Central Bank.
3- Dealing with defaults in some banks and finding ways to rehabilitate them in accordance with the recent board of directors’ decision and giving them the opportunity and the time period to do so.

4- Seeking to move from the paper currency economy to the digital economy and launching the electronic payment strategy, which is currently under discussion.
 Withdrawing the money outside the banking cycle and entering it into the banking system. Enhancing financial inclusion, launching a financial inclusion strategy, and spreading banking services over the widest geographical area in all governorates.

* Advisor to the Association of Iraqi Private Banks
 
 
 
Views 199   Date Added 01/16/2022
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 2022-01-16 03:55
 

Shafaq News/ "Foreign and Iraqi" gold prices decreased slightly in the local markets, today, Sunday (January 16, 2022).

Shafak News Agency correspondent said that gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, recorded for one weight of 21 caliber of Gulf, Turkish and European gold, the selling price of 373 thousand dinars, and the purchase price of 369 thousand, while the gold prices recorded yesterday, Saturday, 374 thousand dinars for the weight. the one .

Our correspondent indicated that the selling price of one 21 carat weight of Iraqi gold also decreased at 343 thousand dinars, while the purchase price reached 339 thousand.

With regard to gold prices in the jewelers’ shops, the price of selling the weight of Gulf gold 21 carat ranged between 375 thousand and 380 thousand dinars, while the selling price ranged from the weight of Iraqi gold between 345 thousand and 350 thousand dinars.

It is equal to one mithqal of gold (five grams).

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 Baghdad: Shaima Rashid
 
Some economic circles close to the government are optimistic that the current oil price will reach a ceiling of $125 a barrel, at a time when the Central Bank is seeking to pay an additional trillion dinars to support small projects.
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, told Al-Sabah: “The main task of the Central Bank is to fight deflation and stimulate local economic activity after the 2014 recession due to the entry of ISIS into Iraq, and then the fall in oil prices, which produced depression in the market and high unemployment rates. Pointing out that "the Central Bank's initiative to support medium and small projects with an additional trillion dinars falls within its policy within the limits of economic recovery with other policies of the government in the field of small projects, and of course, the lending banks are the ones who evaluate the investor and determine his ability to pay, which is one of the administrative obstacles."
Saleh believes that there is a problem that will loom on the horizon because of the problems of small banks and how they deal with the issue, "there are many structural problems, and in all cases the initiative is useful and motivates economic activity, and that the beneficiaries are many."
Regarding the oil market, on which Iraq depends almost entirely on its prices, he said: “The hypothesis of rising prices to annual rates of approximately $125 a barrel requires opening the budget to employment-generating and income-generating projects, whether from the state’s investment budget or supporting the private sector’s investment and producing activities with soft loans. budget revenue.
The government’s economic advisor did not deny the importance of hedging against price risks. “A fund or account that is concerned with the stability of the budget must be established and fed annually with a percentage of the oil rent surplus, to face the risk of a drop in oil prices in unexpected future conditions on the activity of public finances and within the cycle of oil assets.”
• Editing: Ali Abdel Khaleq
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Central initiative and hard loan guarantees

Thursday 20 January 2022 148Central initiative and hard loan guarantees

 
  Baghdad: Haider Falih Al-Rubaie 
Specialists in economic affairs called for the necessity of coordination between the Central Bank and the ministries of planning, industry and agriculture, regarding the initiative to support small and medium enterprises, for which the Central Bank allocated two trillion dinars, stressing the importance of focusing on small projects based on a prior study of the reality of the market, especially those drawn up by the Ministry of Planning. While they praised the initiative's role in supporting the various productive sectors, they criticized the difficulty of obtaining loans as a result of the required guarantees and mechanisms.
 
Earlier this week, the Central Bank increased its initiative for small and medium enterprises, for which a trillion dinars were allocated last year, to be reinforced by another trillion dinars this year, in a move that was met with a “conditional” economic welcome that identified the need to involve specialized government sectors in that initiative, and not focus on The residential side.
 
lack of {planning}
The economist, Manar Al-Obaidi, and despite his emphasis on the importance of the central bank’s step, he criticized that the initiative is fundamentally supportive of the housing sector, indicating that despite the importance of these projects in solving the housing problem, they are unable to provide sustainable job opportunities or increase the domestic product for different sectors.
Al-Obaidi also expressed his surprise at the “disappearance of the entire role of the Ministry of Planning in contributing to this initiative, despite the fact that it is the party responsible for drawing up the country’s economic policy, which should play a key role with the Central Bank of Iraq in focusing on sectors in which Iraq suffers from a great shortage, not Especially in the industrial, agricultural and service aspects.
 
Geographical distribution
Al-Obaidi pointed out that {the reliance of the Central Bank of Iraq on private banks to provide loans, without having goals set for banks to achieve, made them less pressure in financing various projects, and the mechanism for selecting projects became selective from banks, in addition to the high administrative costs to obtain on loans was an influential factor that the central bank had to take into account.”
The economic expert pointed out to the absence of a equitable geographical distribution of project financing, as most of the funds were concentrated in certain governorates, topped by Baghdad, while many projects located in low-income governorates such as Samawah or Diwaniyah, which are considered among the poorest cities, were not funded. Existence of real projects capable of providing job opportunities.
The expert, Al-Obaidi, stressed the need for initiatives to support small and medium-sized enterprises in coordination between the Ministries of Industry and Agriculture and the Central Bank, stressing that this coordination is enough to draw up an economic policy for vital projects that can contribute to creating real and sustainable job opportunities and are less exposed to risks, and therefore the The departure of the ministries of Planning, Industry and Agriculture from the Central Bank initiative led to the initiative being far from achieving its vital goals of providing real job opportunities as a result of most loans going to the residential sector.
In order to achieve the highest success rates for the initiative, Al-Obaidi urged the importance of focusing on small projects based on a prior study of the reality of the market and the economic policy drawn up by the Ministry of Planning in cooperation with the productive ministries (industry, agriculture, communications, and the Tourism Authority) to push the initiative towards specific projects that can actually achieve Increase in GDP from different sectors.
 
Promote growth 
In turn, the economic researcher, Bassam Raad, said during his speech to Al-Sabah that “one of the duties of the Central Bank is to maintain monetary stability in the country and contribute to promoting economic growth, reducing unemployment and controlling inflation,” noting that “the banking environment in Iraq is dangerous as The banking sector considers small and medium-sized enterprises to pose great risks for reasons related to weak guarantees, lack of information, and the absence of real feasibility studies.
Raad explained, “The Central Bank’s initiative is greatly appreciated, and it is Mubarak’s effort, but it should be taken into account that these initiatives do not affect the level of inflation, as happened with the housing initiative previously, and also, before launching such initiatives, it should create the tools and policies that make this work environment Projects are a sound environment surrounded by legislation and laws that enhance the production and investment environment and work on the continuity and success of these projects,” noting that “most of the problems facing these projects after the problem of providing funding is how to monitor the management and direction of those funds, monitor the performance of projects and measure their economic returns.”
For his part, the economic expert, Duraid Al-Shaker Al-Anazi, asked about the “economic returns of this initiative, and whether the Central Bank has conducted a feasibility study for it,” stressing by saying: “What is the harm if a percentage is specified for the industrial and agricultural sectors, and what is the harm if the ministries of agriculture and industry are clearly identified? year of their needs,” stressing that the priority in this initiative should be “for graduates of faculties of agriculture with the aim of establishing joint and separate projects among them.”
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 2022-01-25 04:18
 

Shafaq News/ The head of the Iraqi Private Banks Association called, on Tuesday, to activate the initiative of the Central Bank of Iraq to lend in the Kurdistan Region

 

And the association's media said, in a statement received by Shafaq News Agency, that the head of the Association of Iraqi Private Banks, Wadih Al-Handal, visited with his accompanying delegation the Tourism Authority in the Kurdistan Region, and he was received by the President of the Tourism Authority, Amal Jalal, the advanced staff in the authority and the Director General of the Tourism Department in Dohuk Khairy. Ali, indicating that during the meeting, joint cooperation and ways to activate the tourism sector in the Kurdistan Region were discussed

 

Al-Handal indicated, according to the statement, the necessity of activating the initiative of the Central Bank of Iraq in lending small, medium and large tourism projects, which receives full sponsorship and support by the Association as it is implemented by Iraqi private banks, including banks established in the region.

 

Al-Handal also presented a brief idea of the broad support programs provided by the Tamkeen Fund (which is managed under the umbrella of the Central Bank of Iraq with the active participation of the Association as it is funded by Iraqi private banks), with a focus on grants provided for the reconstruction of religious and cultural centers in various parts of Iraq, the latest of which is Reviving Al-Mutanabi Street, as well as restoring the Lalish Center for the Yazidi community in Kurdistan.

 

Al-Handal indicated that the association is studying a project that will be presented to the Tamkeen Fund to establish a civilizational and cultural center to be held in the historic Erbil Citadel.

 

For her part, Amal Jalal welcomed this visit to the head of the Association of Banks and Joint Cooperation between the two parties, and presented an idea of her continuous efforts to develop the tourism sector, which she has made since assuming the responsibility of the authority until now, and she has a strong orientation towards training human cadres in the authority and creating a tourism culture in the community, and pointed out that An ambitious program towards taking care of the many cultural and religious centers in the Kurdistan Region.

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On Sunday, January 23, the Cooperative Agricultural Bank announced the launch of the promotion and disbursement of soft housing and personal loans within the framework of the Central Bank initiative .

A source for the bank’s media office said in a statement reviewed by Al Sharq Telescope that, in view of the inquiries received from the bank’s branches and offices regarding loans

The initiative of the Central Bank of Iraq , we would like to inform the public of the possibility of promoting and disbursing the loans of the mentioned initiative, according to the regulations and instructions.

It is worth noting that the Central Bank launched several lending initiatives, including the initiative to finance small and medium projects and the initiative for large projects amounting to five trillion dinars.

To finance the specialized banks, as well as three trillion dinars to support the real estate sector, and finally the clean energy financing initiative in the amount of one trillion dinars , bringing the total amounts allocated

For development initiatives, more than fifteen trillion Iraqi dinars .

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 banks


Economy News _ Baghdad

The Minister of Labor and Social Affairs, Dr. Adel Al-Rikabi, discussed with the delegation of the Association of Iraqi Private Banks the (Tamkeen) Fund initiative headed by the Central Bank of Iraq and the Association of Private Banks, and the possibility of implementing projects and programs to support the categories concerned by the Ministry of Labor.
During his meeting with the delegation of the Association, in the presence of the Director-General of the Department of Labor and Vocational Training and the Director-General of the Department of Social Protection for Women, the minister said that Iraq suffers from economic living problems, most notably poverty, unemployment and slums that have social, family and even security repercussions, pointing out that most of the country's problems can be solved in the Ministry Work if the necessary support is provided.
He explained that the ministry provides services to wide segments, including the category of people with disabilities and beneficiaries of social protection for poor families, as well as the category of the unemployed, noting that the doors of the ministry and its departments and bodies are open to receive any support or cooperation in areas related to social affairs.
During the meeting, they discussed cooperation in rehabilitating shelter homes and granting soft loans to establish real projects of economic feasibility. The two years are from four departments to find fruitful cooperation formulas for the groups benefiting from the ministry's services.

 
 
Views 122   Date Added 02/03/2022
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