Al-Alaq stresses the need to increase capital and support the Central Bank to continue the initiatives
Al-Alaq stresses the need to increase capital and support the Central Bank to continue the initiatives
2023-08-27
Today, Sunday, the Parliamentary Finance Committee announced its discussion with the Governor of the Central Bank, Ali Al-Alaq, the bank’s initiative to grant citizens with loans to solve the housing crisis, while Al-Alaq stressed the need to increase capital and support the Central Bank to continue with the initiatives.
The media department of the House of Representatives said in a statement, “The Finance Committee, headed by Atwan Al-Atwani, hosted today, the Governor of the Central Bank, Ali Al-Alaq, to discuss the Central Bank’s initiative to grant citizens loans to solve the housing crisis.”
The head of the committee welcomed the governor of the Central Bank, praising “the role he plays in the bank in financing loans related to resolving the housing crisis in the country, with the aim of facilitating the investment sector, economic movement and employment.”
He added, “The suspension 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 citizen’s needs.”
For his part, Al-Alaq stressed “the importance of communication between the Finance Committee and the Central Bank at all levels of concern to citizens,” explaining “the reasons that led to the suspension of the initiative that led to the contraction of the economic situation.”
He stated that “sums of money have been allocated to the Real Estate Bank and the Housing Fund in order to achieve economic activity and launch the initiative,” pointing out that “the bank deals with the file with an in-depth study in order to control the monetary mass in accordance with the financial policy.”
He stressed, “the need to increase the capital and support the Central Bank to continue the initiatives.”
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 regarding interest and the payment period, and stressing the intensification of meetings in order to study the mechanisms used and issue appropriate instructions to banks in implementing the initiative.
On the other hand, the issue of the exchange rate of the dinar against the dollar and the reasons for the high prices were discussed, as well as the procedures regarding the tax on products imported through the ports.
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