View Full Version : Change banking would encourage savings and attract investment

Hue Mi
12-15-2013, 08:24 AM
Change banking would encourage savings and attract investment (http://www.alsabaah.iq/ArticleShow.aspx?ID=60255)

15/12/13 12: 00 am
Baghdad-Farah pumice

Encouragement of citizens' savings and attracting investors to a bank expert, called on Iraq to a package of measures to change the banking transactions.

Successful expert Hassan told» morning»: the «citizen's savings promotion can only be done by an independent administrative decisions, so we must seek to apply this procedure and change the usual banking (the amount of transactions carried out by banks).

Hassan felt difficulty in spreading the culture of savings in Iraqi society at the present time because of several factors, some of which destabilized the banking collapses the confidence of citizens in the banking system, and other factors, as well as the Iraqi per capita income is not very large, particularly that he had suffered in previous years and now is his chance to satisfy consumer needs and travel for recreation or for the purpose of changing the type of the vehicle.

The expert urged the Central Bank to proceed with the development of practice, to be the country's attractive investment environment, particularly that an investor borrows from banks at an interest rate of 14 or 15 percent of the banks interest deducted in advance, badly affected.

The loans for development under construction factories, roads and agricultural projects are few and the numbers you give are incorrect according to their banks, as well as other effects of the expelling of the investment and is the security aspect, in addition to routine dealings with the head of Department of research and studies at Baghdad University Dr. Baidaa star gesture in the study seen by the «morning» indicates that the volume of consumer spending (63 percent) of GDP.

The wasteful and inefficient spending are negative economic phenomena linked to the culture of consumption, particularly as measured by awareness to purchase necessary goods and services offered and no citizen is a victim of temptation promoted many shops and businesses.

And called for the need to rationalize consumption of services provided up to the need for a luxury and extravagance, the citizen first and last decision in every procurement.