Al-Shami suggests borrowing from the citizen and paying twice the amount
Monday 27 July 2020 164
Baghdad / Al-Sabah
The economist Salah Al-Shami proposed a mechanism to attract the chunky cash block in homes to the banking system by borrowing from the citizen, and to pay twice the value of different services, thereby achieving interest to the citizen and the state, and he could also pay twice the amount after a new borrowing directed to investment projects that benefit the country The loan amount has doubled.
Al-Shami added that "this process must be carefully organized, and that borrowing is from the citizen who wishes and that depends on the number of family members, where a citizen can loan the state an amount of 300 dollars for each individual, and obtain a document worth 600 dollars for every individual Providing the loan, provided that the amount is refunded by paying bills for tax and electricity, and various collection transactions are deducted from this the amount".
He pointed out that "the state must provide a series of concessions to the person who participates in such a loan program, through specialized committees working to draw a set of incentives that lead to the participation of the largest number of citizens in this great project," noting that
"there should be Honest national departments for this project, which enhances the financing capabilities of all projects."
He stressed, "The possibility of directing this borrowing money towards both stalled and new projects, and represents a step to address the problem of project financing due to the financial hardship that the country suffers due to the lack of multiple financial resources and dependence on rent. The oil."
Al-Shami said: "Doubling the amount is reduced for the citizen when he pays the dues he owed to the state, especially since this is appropriate for a large number of citizens who have continuous dealings with Country".
Al-Shami warned, "The importance of working to find mechanisms to attract the chunky cash block in homes to the banking system, which contributes to filling the financial deficit that occurs in the financing aspects, as well as doubling the amounts to the citizen, thereby achieving interest for the citizen."