Source: Observatory of Iraq - 11/01/2010
Criticism of the banks, Iraqi government not to invest their deposits in the draft
The face of Iraqi citizens criticized the government banks, for lack of investment and massive financial deposits in development projects, especially that of the current year has seen several resolutions permit the granting of loans to citizens, but the banks prevented the citizen benefit from any of them.
The shopkeepers said the government banks do not benefit from the huge liquidity in the investment in the housing sector, or in the productive and service sectors, especially banking «Iraq» and «good» government, which under the pretext that the «Central Bank of Iraq» prevents them from investing their assets in enterprises, to control inflation, forgetting that investment enhances the country's economic and financial benefit to the banks themselves.
And the owner of a shop in Karrada Street in central Baghdad, that the banks follow the procedure «impossible», if so requested, grant a loan of money, may take months, employees in what was described as one of the ministries of housing loans, as revived hope in himself, but was soon disappointed in front of the obstacles encountered.
The Director-General of the Bank «Iraq» Abdul-Hussein al-Yasiri, the «Central» imposition of restrictions since 2008 on the work of the bank, inventory investment through the purchase of stocks and bonds, and prevent it from direct investment to public sector deposits, or the updating of the financial benefits they state funds, as on them, stressing that the possibility of the bank balance, which exceeded 22 trillion Iraqi dinars (20 billion), contributing to the national development process, by withdrawing excess liquidity from circulation, and re-invested directly in the economic sectors, or the granting of credit. He explained that the balance of the bank is liquid government departments and the private sector, civil servant in the credit and indirect investment, by buying Treasury bonds.
Criticism of the banks, Iraqi government not to invest their deposits in the draft
The face of Iraqi citizens criticized the government banks, for lack of investment and massive financial deposits in development projects, especially that of the current year has seen several resolutions permit the granting of loans to citizens, but the banks prevented the citizen benefit from any of them.
The shopkeepers said the government banks do not benefit from the huge liquidity in the investment in the housing sector, or in the productive and service sectors, especially banking «Iraq» and «good» government, which under the pretext that the «Central Bank of Iraq» prevents them from investing their assets in enterprises, to control inflation, forgetting that investment enhances the country's economic and financial benefit to the banks themselves.
And the owner of a shop in Karrada Street in central Baghdad, that the banks follow the procedure «impossible», if so requested, grant a loan of money, may take months, employees in what was described as one of the ministries of housing loans, as revived hope in himself, but was soon disappointed in front of the obstacles encountered.
The Director-General of the Bank «Iraq» Abdul-Hussein al-Yasiri, the «Central» imposition of restrictions since 2008 on the work of the bank, inventory investment through the purchase of stocks and bonds, and prevent it from direct investment to public sector deposits, or the updating of the financial benefits they state funds, as on them, stressing that the possibility of the bank balance, which exceeded 22 trillion Iraqi dinars (20 billion), contributing to the national development process, by withdrawing excess liquidity from circulation, and re-invested directly in the economic sectors, or the granting of credit. He explained that the balance of the bank is liquid government departments and the private sector, civil servant in the credit and indirect investment, by buying Treasury bonds.