Al-Alaq stresses the need to increase capital and support the Central Bank to continue the initiatives


Today, Sunday, the Parliamentary Finance Committee announced its discussion with Central Bank Governor Ali Al-Alaq about the bank’s initiative to grant citizens loans to solve the housing crisis, while Al-Alaq emphasized the need to increase capital and support the Central Bank’s initiatives.

“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 House of Representatives’ media department said in a statement.

The chairman of the committee greeted the governor of the Central Bank, complimenting “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.”

“The suspension of the initiative affects the economic aspect and job opportunities, with the increasing need for housing units, which necessitates a feasibility study to reach an appropriate formula that meets the needs of the citizens,” he added.

Al-Alaq, for his part, emphasized “the importance of communication between the Finance Committee and the Central Bank at all levels of concern to citizens,” outlining “the reasons that led to the suspension of the initiative that resulted in the contraction of the economic situation.”

“Money has been allocated to the Real Estate Bank and the Housing Fund in order to achieve economic activity and launch the initiative,” he said, adding 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 emphasized “the need to increase capital and support the Central Bank in order to continue the initiatives.”

The committee members’ interventions focused on the Central Bank’s procedures and the possibility of increasing the amounts granted, as well as the new instructions issued regarding interest and the payment period, and emphasized the importance of intensifying meetings in order to study the mechanisms used and issue appropriate instructions to banks in implementing the initiative.

On the other hand, the problem of the dinar’s exchange rate versus the dollar and the causes for high pricing, as well as the processes for taxing items imported through ports, were discussed.


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