Economy News – Baghdad
The Parliamentary Finance Committee, chaired by its President Atwan Al-Atwani, hosted today, Sunday, the Governor of the Central Bank, Ali Al-Alaq, to discuss the bank’s initiative to grant citizens loans to solve the housing crisis.
The parliament’s media department said in a statement that Al-Awani “welcomed the Governor of the Central Bank, praising the role it plays in the bank in financing loans related to solving the housing crisis in the country, with the aim of facilitating the investment sector, economic movement and employment, adding that the cessation of the initiative affects the economic aspect and job opportunities, with the increasing need for housing units, which requires a feasibility study to reach an appropriate formula that meets the needs of the citizen.”
For his part, Al-Alaq stressed “the importance of communication between the Finance Committee and the Central Bank at all levels of interest to citizens,” explaining “the reasons that led to the cessation of the initiative that led to the contraction of the economic situation.”
Al-Alaq added that “money has been allocated to the real estate bank and the housing fund in order to achieve economic activity and launch the initiative,” noting that “the bank is dealing with the file in-depth study in order to control the cash mass in accordance with the fiscal policy,” stressing “the need to increase capital and support the Central Bank to continue with initiatives.”
According to the statement, “the interventions of the committee members focused on the procedures of the Central Bank and the possibility of increasing the amounts granted, with the expansion of initiatives, as well as the new instructions issued on benefits and repayment period, and stressing the intensification of meetings in order to study the mechanisms used and issue the appropriate instructions for banks in the application of the initiative.”
On the other hand, the statement continued, “On the other hand, the issue of the dinar exchange rate against the dollar and the reasons for the rise in prices, as well as the measures regarding the tax on products imported through the outlets” was discussed.
