Investment Authority to adopt a study of the introduction of private banks sector housing
Experience applied in almost most of the world, whose economy to a free market system, the same approach taken by Iraq after the change, was relying on private banks and government that can invest their solvency, large building complexes helicopter and then distributed to citizens deductions and comfortable compared to interest rates varying According to the competition or government-subsidized prices.
The chief investment Sami Araji Iraq cord the same approach, ie, we will, depending on private banks to encourage the housing sector, where banks met government and the Iraqi civil and offered them the idea of participation and welcomed it. Will Trade Bank of Iraq (TBI) in coordination with the banks to finance part of the cost to build housing complexes in addition to funding the Arab and foreign, either the exp ected interest rate is being discussed now between these banks and if identified will be announced.
For his part, Saad infrastructure Prime Warka Bank for Investment and Development of Iraq, which is a private bank only raise the capital to 250 billion Iraqi dinars, or about 200 million U.S. dollars, said the purpose of engaging in this subject should be Narj of the Banking Law Iraqi No. 94 of 2004, In the article (28) exclusively, which I attended on banks to invest in all areas, which set their work in credit operations only, while all banks established for the purpose of credit operations, investment and finance and this suggests Anoaneha, noting that all the banks in the world practice, such as, working to Apart from its banking , and these investments for the long term sometimes exceed (15) years, achieving a high return to depositors as well as the provision of accommodation comfortable and generous to all citizens, but I doubt that this is only available to the availability of liquidity needed for these operations, but the decision was made by selecting to deal with banks Eligibility and the withdrawal of all deposits of government departments led to a shortage of liquidity in these banks dramatically, and that the withdrawal of all government deposits suddenly and rapidly without warning.
The structure "that rely on real estate investment banks, foreign matter collide with the security situation as is well known that capital is coward and can not be a foreign investor to run this Laghmar unless stabilize the security situation properly, he must go to the Cape government money is located in the state banks of sleeping giant that Move towards real estate investment to secure the living and decent housing for citizens, either the Iraqi capital to the owners of capital, they have turned out as the result of the security situation.
And on the possibility for private banks to support the government to engage in investment projects in the housing sector said the structure "I am sure that every Iraqi citizen has a sense of patriotism must come together and cooperate to resolve this crisis because cooperation between banks and the provincial councils and the secretariat of Baghdad that is a virtuous circle reflected on the welfare of Iraqi citizens But the key problem the subject of infrastructure such projects such as water, electricity, sewage, telecommunications, roads because all Iraq needs now is a revolution, a white hand in hand in all sectors to overcome the difficulties and obstacles and administrative and financial corruption in order to promote the Emperor of civilizations and religion to a level higher than all countries in the world because Iraq has not invested by little over the last forty years."
In terms of the price benefits of such long-term loans this process of economic calculation depends primarily on the view the deposits for requiring the use of these deposits is determined by the Central Bank of Iraq, which is a bank of banks and Osasyate and prosperity in Iraq so as not to exceed the bank charges of more than 2% per year Administrative fees, legal and control and obtain money, pointing out that we must not focus on the governorate of Baghdad, but the needs of residential units across Iraq from Basra to Mosul, and Anbar to Diyala.
And on the most important future projects for banks eligibility, said Saad structure "There is no modern technology in the banking sector in the world unless the intervention of this technique in our bank, but if there was a lack of confidence between the government and the private banking sector did not change technologies formula to deal with the private banking sector caution without justification By the state, making the technology, which has spent millions of dollars by not doing correctly for use in all operations of the banking credit to major banks in parallel to the modern world developed."
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