Central Bank of Iraq is constantly allocating Funds: Advisor to PM

Muhammad-Saleh

The Iraqi Prime Minister’s Financial Affairs Advisor Muhammad Saleh issued a press statement that Central Bank of Iraq is continuously financing loans to Iraqi citizens for small and medium projects programs and reissuance of loans after recovery in order to mover the economic wheel.

He also pointed out that this program will provide help to maintain a permanent fund for development purpose or contribution in development for the Bank in the future. He further added in his statement that more than 154 public companies are operating in Iraq and most of them would get benefits from this loan and would become more profitable companies.

It will also boost the Iraqi national economy and it would support agricultural, industrial and housing sector because these companies have sufficient assets and have more than half million workers. Muhammad Saleh stressed that this program will work as information base program for all beneficiaries without any concern of the banking system information but this inform will be used to control, manage and audit for those who enter in this program and will be responsible in the event of incompletion of the project, who got the loan on the base of project.

It is also said that high level of efficiency is required to achieve the program targets. The former deputy of the governor of Iraqi Central Bank also said that six trillion Iraqi dinars have been launched in the market by the Iraqi Central Bank in order to trap fluidity and stabilize the economy.

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