Rasheed Bank: Support for small businesses to stimulate the national economy
Allocated 200 billion dinars for the private sector
Baghdad - Haider Filaih Rubaie
praised the Director General of the Rasheed Bank of the importance and role of small enterprises in the development of the Iraqi economy and reducing unemployment and alleviating poverty in Iraq, pointing out that the rational decided to give wishing to establish small businesses loans of up to 20 million dinars and the period of payment of three years, as Iraq seeks to develop the reality of investment projects and activate the production to him, said General Manager of the bank that the volume of funds allocated by the rational supporting the private sector amounted to 200 billion dinars,
pointing out that those numbers will be of great value if carried out Iraq projects, strategic task can be reflected positively on the reality of sustainable development in the country, stressing that the bank is fully prepared to support such large projects, if implemented on the ground.
Kazim said fistula Speaking (morning): The Rasheed Bank granting broad powers of the Directors of its branches in the whole of Iraq to facilitate the granting of loans allocated to the establishment of small enterprises, and these powers include the allocation of an amount not more than 20 million dinars for the implementation of industrial projects or commercial variety, explaining that the bank created the money good can meet the requests of many who wish to establish investment projects, whether industrial or commercial It can meet the needs of the local market of materials, goods and works to run as much as possible of the unemployed.
He fistula that most of the countries of the world are working diligently to strengthen and maximize the role of small, namely, as the progress on that, they understand clearly the possibility and the role of these projects in stimulating the economic reality in which, therefore, Rasheed Bank, according to his own philosophy, he asserts that the diversity and multiplicity of craft projects small can be a factor to strengthen the economic reality in general, indicating that the large projects is the product of the activities of all small-scale industries that can provide them with support to become later Projects reliable in the field of production of the country.
He fistula that plans for the future requires an increase of the capital of the bank, and arrange re-structure management, and use the technologies of modern banking in the overall system, as well as seeking to move to a new building will seek bank to build or use a building belonging to him, explaining that the mechanization of banking has become a necessary factor, but the fistula point and there are some obstacles to the process of mechanization of the bank, saying that the most prominent of the intersection of some regulations and laws.
He noted that the government deposits constitute the bulk of the money the bank, so the transition to the regulations advanced banking should meet all the needs of depositors, and this Madf all employees in good to study this matter thoroughly in order to invest the money the bank as the best, especially as they constitute a mass of huge cash.
He fistula that good works are a serious and fruitful dialogue with the private banks and a number of clients in the countries of the world, indicating that the extent of cooperation with the private banking sector is good as well as the presence of reporters leading others in the United States and Europe, providing distinguished banking services for Rosetta.
He noted the Director-General that the net profit achieved by the Rasheed Bank last year increased from 10 billion dinars, which is continuously to earn investment opportunities that could work to increase the capital and at the same time meet the needs of many of the productive sectors important to the national economy, stressing that all economic sectors covered by the submissions from the bank services banking distinct, especially the public sector that works good to lend to the preparation of state firms , as well as support for the private sector, individuals, companies, stressing that the bank deliberately to set aside $ 200 billion dinars to support this vital sector and important to the revitalization of the Iraqi economy in general.
and on the continuation of the Bank to grant advances for staff, amounting to five million dinars, as well as advance percent salary stated fistula that good past grant staff to such advances at the moment, but the fistula mentioned the existence of what he called the balance in the economy said that the bank in collaboration with the Ministry develop a plan to be mutations price in local markets after the inclusion of as much staff as possible in one, pointing out that the public administration in Rasheed Bank warned of some economic problems that could affect the Iraqi reality in general, particularly rising prices and increasing inflation rates, which called for the bank to work quietly in the granting of staff for such advances out of fear of economic consequences frightening as fistula, which confirmed that the estimates developed by the Bank stipulates that the size of those covered by the predecessor government officials should be no more than 15 percent.
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