PRIVATE BANKS TEND TO INVEST IN DEVELOPMENT PROJECTS FLOWABILITY
Cumulative loans and treasury bonds highlighted its means: Restored placed raise or increase the capital of private banks to 250 billion dinars to the circle of light and heated debate on the significance of whether or not to raise their performance, despite the consensus on the need to achieve this goal Aln difference centered on ways to Asestthmarha under certain restrictions imposed in the law of private banks, especially in articles (27) and (28), which many and objections by specialists and stakeholders as tied to some investment activities, according to some stakeholders.
But apparently that the Association of private banks in Iraq resolved hurry to go to the possibility to take advantage of capital these investing for the purposes of development, this is what we reached him President of the Association Adnan Chalabi in an exclusive interview with the (morning) and said we have to primitive serious steps and by contributing loans aggregate provided several banks to finance lending and strategic development projects contribute to the real development and thus run these large liquidity generated by the raising of capital.
And on the mechanism to be followed in such a Banking Service sophisticated explained Chalabi process that the bank or two or three to provide a syndicated loan regulations and mechanisms to ensure that the rights of the parties through one of these banks to do the job and this action of course carried out with the approval and supervision of the central bank, and we believe that this kind of investment will lead to real development in infrastructure projects as a result representation procedures regularly.
Chalabi Ward P, saying that among the projects that are supposed to be funded through loans aggregate those affecting the lives of citizens, including projects, condominiums, schools, and thus activated the role of banks in the development through the provision of employment opportunities and operation of many of the other units in compromising with the process of construction and reconstruction.
Multiplicity of services
He Chalabi that this type of financing Mujudwi most countries of the world have contributed to the implementation of several strategic projects.
And on the question (morning) for other steps to help banks to diversify their banking services towards the promotion of development programs suggested Chalabi strengthen the capacity of banks with liquidity through the issuance of bonds Treasury and the measure requires approval of the Central Bank and by issuing bonds worth negotiable official in the Iraqi market for securities and the interest it used for Altnumeihohma purposes depends on the decision by the Ministry of Finance and the Central Bank.
Bonds in the stock market
He said these bonds put into circulation by the citizens instead of ????????? cash purchase of bonds guaranteed and ?????? on value and are buying and selling and generate profits for the citizen and at the same time invest amounts by banks will go for investment and development. However, Chalabi said that these trends, though serious Alaanha studying at the moment It and you are Blorthowthdid to the goals and mechanisms and submit them to the concerned authorities for approval and approval, they will contribute to the reduction of inflation and the withdrawal of liquidity surplus.
And the timing of the application of this mechanism concluded Chalabi his expectation that the mid-year 2014 as the date for the start of the new hinting at the direction many other association with structured nearby. Pointing out that the Association heading during the coming period to urge banks to interact with each other in order to activate the banking business and the advancement of banking products provided by the to beneficiaries audience, noting that the advanced technology started touched the doors of many banks and the multiplicity of civil products continuously and represents a target for most of the banks discreet.