An Iraqi bank: Banking Act allowed us to determine the interest rate
Director of the High-Warka Investment Bank, said that the imposition of the benefits of private banks to give large loans because of the security risks associated with the legislative and the lending process
Calling for amendments to the Banking Act to allow them to work to invest like other countries in the world. Mohammed al-Samarrai said the Banking Act, "allowed us the freedom to determine the interest rate on the credit granted, and who arrived at the 25% in the Warka Bank," the bloc's why the "economic and security situation, which led to a considerable difficulty in obtaining debt since 2003 and so far, but because of the low value of the collateral which is usually a drug, "or because of" difficult to sell because people did not accept the purchase of real estate encumbered as collateral for the banks, for fear of problems that may ensue, particularly if the property was occupied by the citizens."
The Executive Director of the Association of private banks, Abdul Aziz al-Hassoun said earlier: that the economic indicators indicated that a significant decline in the demand for bank credit in the private market by Iraq did not exceed 22% compared to the tune of money in excess of $ 1.2 billion, due to interest rates high rates of banks which are no longer funded by a strong economic actors, which will not create a proper atmosphere for economic action in Iraq.
Samurai promising high interest rate as a kind of "trust and broadcast coverage for assigned risks, and a call to move away from seeking loans from private banks that do not wish to grant credit, mostly because of the security situation" as well as "the legislative amendments needed to be large, since the Banking Act, which Crath authority Coalition Provisional contains material restricted to the work of "hitting the ideals of" Article 28, which prevent the entry of private banks to mining projects and the investment industry, At the same time find that the names of the banks did not reflect the reality of activity, such as the Warka Bank for Investment and other "while the" Non-investment and its role limited to the granting of loans and issuing guarantees, "which is delegated to the first" allows them to invest in the projects, the fact that the entry of any bank in any component of the success of the draft and not a failure.
Samarrai said that "the law does not allow banks to provide loans only at certain restricted by credit, compared to the capital and reserves, which reached most of the banks to the ceiling or exceeded," At the present time "are afraid of a lot of them (private banks) to grant further loans to instructions not to exceed the central bank, "At the same time, there was a" reluctance of the government departments dealing with private banks, because it deals with a view no doubt, because most grew up in the last ten years, the Bank prefers to deal with the government as a source of safety, "he said, while the "According to the economic base of private banks that are strong economic backbone of any state as a factor for the economy and Iraq, in dire need them.
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Director of the High-Warka Investment Bank, said that the imposition of the benefits of private banks to give large loans because of the security risks associated with the legislative and the lending process
Calling for amendments to the Banking Act to allow them to work to invest like other countries in the world. Mohammed al-Samarrai said the Banking Act, "allowed us the freedom to determine the interest rate on the credit granted, and who arrived at the 25% in the Warka Bank," the bloc's why the "economic and security situation, which led to a considerable difficulty in obtaining debt since 2003 and so far, but because of the low value of the collateral which is usually a drug, "or because of" difficult to sell because people did not accept the purchase of real estate encumbered as collateral for the banks, for fear of problems that may ensue, particularly if the property was occupied by the citizens."
The Executive Director of the Association of private banks, Abdul Aziz al-Hassoun said earlier: that the economic indicators indicated that a significant decline in the demand for bank credit in the private market by Iraq did not exceed 22% compared to the tune of money in excess of $ 1.2 billion, due to interest rates high rates of banks which are no longer funded by a strong economic actors, which will not create a proper atmosphere for economic action in Iraq.
Samurai promising high interest rate as a kind of "trust and broadcast coverage for assigned risks, and a call to move away from seeking loans from private banks that do not wish to grant credit, mostly because of the security situation" as well as "the legislative amendments needed to be large, since the Banking Act, which Crath authority Coalition Provisional contains material restricted to the work of "hitting the ideals of" Article 28, which prevent the entry of private banks to mining projects and the investment industry, At the same time find that the names of the banks did not reflect the reality of activity, such as the Warka Bank for Investment and other "while the" Non-investment and its role limited to the granting of loans and issuing guarantees, "which is delegated to the first" allows them to invest in the projects, the fact that the entry of any bank in any component of the success of the draft and not a failure.
Samarrai said that "the law does not allow banks to provide loans only at certain restricted by credit, compared to the capital and reserves, which reached most of the banks to the ceiling or exceeded," At the present time "are afraid of a lot of them (private banks) to grant further loans to instructions not to exceed the central bank, "At the same time, there was a" reluctance of the government departments dealing with private banks, because it deals with a view no doubt, because most grew up in the last ten years, the Bank prefers to deal with the government as a source of safety, "he said, while the "According to the economic base of private banks that are strong economic backbone of any state as a factor for the economy and Iraq, in dire need them.
http://209.85.227.132/translate_c?hl...p_YJQV5XIAKG6Q