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Establish a cluster-banker to the national industry

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Establish a cluster-banker to the national industry promotion

18/6/2016 12:00 am

Aims to increase the share of GDP

Baghdad-Saha Al shaikhli

Economic expert pretty name important banking law amendment allowing the industry long term investments rather than commercial loans that do not promote productive investment, calling at the same time to establish a Development Bank private sector ydarbaklih mixed with the majority of Board members from the private sector.

Industrial Bank

Citing the Hadith

For «morning», the distinguished role played by the Industrial Bank of the industrial sector during the decades describing positive and facilitator role especially in various loans, whether in بناءلمشروع or import where up to 60 percent of the estimated value of the services and benefits are modest not exceeding 6 percent for long and soft, prompting the industrial sector growth and recovery in a timely manner, and the day after the industry and other productive sectors of large disasters over the last two decades and industrial sector deficit financing Himself, it became necessary to find new capital actively contribute to this sector forward.

Relieve unemployment.

Beautifully underscores a strategy of industrial initiative intended to launch, indicating that run this sector contributes and mixed until it became a necessary task to alleviate unemployment and creating new jobs for the workforce which presents itself to the market annually in excess of 350-400 thousand people.

Beautiful refers to the reluctance of the banking system to finance industrial sector with lucrative financial loans, either because of lack of capital or fear of failure banks payment by debtors to delay payment for long term industrial loans.

The banking system

He said because of the complexities of withdrawals and poor citizens ' confidence in the banking system right now for lack of guarantees for the return of capital to their time of need, people's savings lost she remained in cabinets and fire home are at risk of theft.

Adds a beautiful expert is required from the Central Bank or financial authorities to give guarantees for the citizen to ensure these banks as long as officially approved so reassuring to migrating capital to return to Iraq and investing here instead of setting up its projects outside the country.

Government program

Jamil said that the new Government program refers to activate the role of the private sector in particular, restructuring and industrial might privatize it Department by providing capital to promote the industrial sector especially subjected to bankruptcy and significant lack of electrical energy along with opening for import without customs tariff and quality control under the brimralkodimh decisions that led to the dumping of goods and deprive local industries of all growth.

Development Bank

He adds that the present juncture the country under indigenous manufacturers need to work in accordance with the Government programme and revitalize the industrial sector and restore its contribution to GDP ratios exceed 10 percent, requires considerable coordination between manufacturers and banks with banking law to allow long term investments instead of deadly business loans for productive investment while working to establish a Development Bank private sector ydarbaklet and mixed with the majority of Board members from the private sector.

This step aims to restart industrial sector and reduce poverty in society and create a national gathering banker and engage in partnerships with industry professional authentic from parasitic capital on the industrial sector.

Revitalizing industries

Jameel stressed the importance of revitalizing basic industries sings about foreign currency diverted imports, raw materials are available locally industries as cement, petrochemical, food and other industries that operate as many employment and reduce unemployment.

Beautiful stressed in conclusion that all this requires a quick set of legislation and regulations pertaining to the banking system, the Central Bank's reassurances broadcast to citizens to ensure their safety and their shares in banks.

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