Lifting of restrictions on banks to do their role in the development of industry
BAGHDAD - Hussein al-Tamimi Tgb Student assembly Iraqi President Abd al-Hasan al-Shammari to lift restrictions on government and private banks and the real turn in the leadership and development of the private industrial sector which is the most important pillars of the economy essential to the development of the country.
Al Shammari (morning) that the current stage requires us to encourage capital to enter Iraq. Stressing the importance of the establishment of insurance companies and reinsurance to guarantee loans granted in the private industrial sector for both machines or construction or purchase of raw materials, because the investment operations sometimes incur losses to varying degrees, and pointed to the importance of insurance companies to cancel part of the losses of banks and thus will be achieved certain profits to run bank capital, as well as insurance companies and this leads to activation of import, as well as the industry developed over time and the provision of goods and services to the citizens of attributes of a good rather than for goods entering Iraq now, everywhere and at any place and specifications of very poor and this will reduce the wastage of money (currency difficult) for use in building infrastructure.
And said to be interest in experiences of countries have preceded us in this area, including Egypt, Tunisia, Iran, United Arab Emirates and Saudi Arabia to support the industrial process and thus the economic process.
Not necessary to activate the role of banks in general to support small and medium enterprises because they are small capital, which is characterized Bmrdodha profit bumper because they rely on the construction industry, food and household goods, which is popular with consumers because it missed out since the eighties and preoccupation with Iraq in the war and pointed out that the private industrial sector of Iraq have suffered during the last decades of the restriction and tied a large, especially after 1991, which led to weakness in full and this caused the cancellation of many industrial companies, dismantled and sold in the form of (scrap) as well as laboratories of small and medium become almost a parked or stopped completely for many reasons, including the overtaxed tax or the collapse of the local currency against foreign currencies has led to financial capital and the collapse of the private industry.
Shammari, said: "We assess what to domestic banks and government in any country in the world play an important role in the management and investment of funds and the achievement of the surplus profit through rapid circulation in the market, whether the duration of short-or long-term, which means its contribution to a significant contribution in many things, including the operation of manpower and to facilitate movement within the market leads to lower unemployment rates in the community ..
But the transition to a free economy has taken it upon themselves to develop laws and regulations restricting the movement of private banks and governmental and put numerous restrictions to the movement of foreign exchange and limited to deal with and control of the government sector by giving the rates of competitive large public sector which led to the scaling of the private sector in all its forms and weaknesses, and damage and the collapse of the effectiveness of the sector private sectors.
He said industrialists interested in the industrial side for being the main base for the development of society, as the rest of the sectors is a complementary service sectors, or his or benefit from it. It rely too much on the role of private banks and government in the promotion and development of the private industrial sector which is more substantive than in other sectors in the reconstruction loans to banks.
He said we hope to expand the liberalization of economic concepts, including the banking of the numerous restrictions placed upon it and the stability of the value of local currency, wondering why I stayed government and private banks to suffer from stagnation and constrained by laws and regulations provide for limited loans to the industrial sector.
Calling all those interested in the industrial sector and the private banking sector to provide advice in order to facilitate banks to support the private sector for the advancement of new and all he could to keep the cadres and his money from waste.
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BAGHDAD - Hussein al-Tamimi Tgb Student assembly Iraqi President Abd al-Hasan al-Shammari to lift restrictions on government and private banks and the real turn in the leadership and development of the private industrial sector which is the most important pillars of the economy essential to the development of the country.
Al Shammari (morning) that the current stage requires us to encourage capital to enter Iraq. Stressing the importance of the establishment of insurance companies and reinsurance to guarantee loans granted in the private industrial sector for both machines or construction or purchase of raw materials, because the investment operations sometimes incur losses to varying degrees, and pointed to the importance of insurance companies to cancel part of the losses of banks and thus will be achieved certain profits to run bank capital, as well as insurance companies and this leads to activation of import, as well as the industry developed over time and the provision of goods and services to the citizens of attributes of a good rather than for goods entering Iraq now, everywhere and at any place and specifications of very poor and this will reduce the wastage of money (currency difficult) for use in building infrastructure.
And said to be interest in experiences of countries have preceded us in this area, including Egypt, Tunisia, Iran, United Arab Emirates and Saudi Arabia to support the industrial process and thus the economic process.
Not necessary to activate the role of banks in general to support small and medium enterprises because they are small capital, which is characterized Bmrdodha profit bumper because they rely on the construction industry, food and household goods, which is popular with consumers because it missed out since the eighties and preoccupation with Iraq in the war and pointed out that the private industrial sector of Iraq have suffered during the last decades of the restriction and tied a large, especially after 1991, which led to weakness in full and this caused the cancellation of many industrial companies, dismantled and sold in the form of (scrap) as well as laboratories of small and medium become almost a parked or stopped completely for many reasons, including the overtaxed tax or the collapse of the local currency against foreign currencies has led to financial capital and the collapse of the private industry.
Shammari, said: "We assess what to domestic banks and government in any country in the world play an important role in the management and investment of funds and the achievement of the surplus profit through rapid circulation in the market, whether the duration of short-or long-term, which means its contribution to a significant contribution in many things, including the operation of manpower and to facilitate movement within the market leads to lower unemployment rates in the community ..
But the transition to a free economy has taken it upon themselves to develop laws and regulations restricting the movement of private banks and governmental and put numerous restrictions to the movement of foreign exchange and limited to deal with and control of the government sector by giving the rates of competitive large public sector which led to the scaling of the private sector in all its forms and weaknesses, and damage and the collapse of the effectiveness of the sector private sectors.
He said industrialists interested in the industrial side for being the main base for the development of society, as the rest of the sectors is a complementary service sectors, or his or benefit from it. It rely too much on the role of private banks and government in the promotion and development of the private industrial sector which is more substantive than in other sectors in the reconstruction loans to banks.
He said we hope to expand the liberalization of economic concepts, including the banking of the numerous restrictions placed upon it and the stability of the value of local currency, wondering why I stayed government and private banks to suffer from stagnation and constrained by laws and regulations provide for limited loans to the industrial sector.
Calling all those interested in the industrial sector and the private banking sector to provide advice in order to facilitate banks to support the private sector for the advancement of new and all he could to keep the cadres and his money from waste.
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