Advisor To The Prime Minister Highlights The Importance Of Bank Credit In Strengthening The Economy, 24 MAY

 Advisor To The Prime Minister Highlights The Importance Of Bank Credit In Strengthening The Economy

 May 22, 2024  Baghdad/Iraq Observer  Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, identified three main benefits of bank credit, stressing that
 
increasing bank lending activity 
     raises growth rates and 
     economic well-being.  Saleh explained,
 
 “Bank credit is a vital financial tool for providing liquidity and financing economic activity to individuals and companies.” He pointed out
 
three main benefits of bank credit, which are that it contributes to financing it,
     generating job opportunities ,
     stimulating innovation, and
     promoting economic and social growth.
 
It is linked to an increase in bank savings rates through an increase in bank deposits, as banks provide distinct savings accounts.
 
It also contributes to
     meeting the needs of productive sectors and
     financing the purchase of real estate and educational and medical expenses,
 
which improves the standard of living.

Saleh added that increased lending activity
     enhances economic activity and
     raises growth rates and prosperity,
 
provided that it does not conflict with the goals of monetary policy and economic stability. 
 
https://observeriraq.net/مستشار-رئيس-الوزراء-يبرز-أهمية-الائتم/