The Construction Industry Federation said it would consider the Government’s legislation on the new assets management agency in consultation with its members.
In a statement, the CIF said it supported the “major restructuring” of Ireland’s banking system and wider economy, of which Nama was an important part.
“Restoring international investor and consumer confidence in our banking system is not only a priority but a vital pre-requisite for recovery in construction and all sectors of the economy,” the organisation said.
“The federation will study the draft legislation in detail and will respond once its deliberations have been concluded. The CIF will input industry’s perspective and experience so as to contribute to the effective operation of the agency once it is up and running.”
It said it was imperative that Nama was up and running as quickly as possible in order to “unlock the logjam that has developed in the banking system”.
The Irish Banking Federation (IBF) welcomed the publication of the Bill and said Nama was “central to strengthening the balance sheets of systemically important institutions and their capacity to support sustainable economic activity”.
“The Nama model, which has been tailored specifically to deal with the issues arising here, has received broad support from the EU, the IMF and the international investor community,” a statement said.
“By allowing banks to focus on their core business of financial intermediation, Nama will be crucially important in restoring health and stability to our banking system and to the wider economy."