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Specialize demanding to amend the Banking Act .. The government is considering projects in support of Iraqi banks
04/18/2015
BAGHDAD
Student specialists and managers of banks, on Friday, amend the Banking Act in making these banks contribute to the President of the Iraqi economy, and stressed that the total capital of Iraqi private banks reached one billion and $ 600 million during 2014, while the government has confirmed that it is currently considering a proposed several projects to strengthen infrastructure infrastructure for private banks and enable them to meet the challenges facing the country.
He says banking expert Majid Hilfi, in an interview for the (long-Presse) that "the deterioration of the banking reality and not arriving to the level of ambition due to the heavy legacy inherited by Iraq and led to the collapse of the economy and the failure of its banking system as a result of war and siege and militarization and implicate government banks internal and external financial relations complex" , is that "it led to the obvious weakness in the banking culture and the decline in international confidence and reverse the role of banks in the economic and developmental two activities."
He adds Hilfi, that "the Iraqi banks, governmental and private, began to recover after 2003 due to the presence of new laws and a wide area of the deal." adding, "but that" the political and security crisis cast a shadow over the industry and made his steps slow. "
says Commissioner of Bank Union Director, Aqeel trouble maker, in an interview for the (long-Presse) that "the Iraqi private banks did not take the proper horizon because their capital is greater than their deposits." , is that "it is a strange case because the opposite is imposed, and this thing has been imposed upon because of market management, and the laws prevailing so far."
It is noteworthy trouble maker, that "private banks are still experiencing a recession must governmental bodies to go with and interest in them because they are a real partner in the development of the economy and maintain the country's fiscal and monetary policy. "
But a member of the administrative body of the Association of private banks, Adnan al-Chalabi, seems optimistic because of what we have reached private banks, funds and expand its network in the Iraqi capital, despite its demand to amend the Banking Act, which constitutes a node preclude own evolution them.
Chalabi said in an interview for the (long-Presse) that "the total Iraqi private banks' capital increased from $ 30 million in 2004 to one billion and $ 600 million the end of the last in 2014, except for branches owned by Arab and foreign banks operating in Iraq."
He adds Chalabi "The number of private banks operating in Iraq rose from 17 in 2004 to 31 to the end of the last in 2014, while the number of branches has increased in Baghdad and other provinces from 100 to more than 600 to compete in the number and level of services Rafidain bank branches and good government."
turn says Council Advisor Minister for Economic Affairs, Abdul Hussain Anbaki, in an interview for the (long-Presse) "The Iraqi government can not ignore the role of private banks in the economy and stimulate investment and growth," and shows that "the government is currently considering more than one project to support private banks."
He adds Anbuge that of those "projects bill to save the financial deposits, and the recommendation to develop a financial government deposits with the private banks," is that it "contributes to the strengthening of infrastructure for private banks and enable them to cope with the financial and economic challenges facing the country."
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04/18/2015
BAGHDAD
Student specialists and managers of banks, on Friday, amend the Banking Act in making these banks contribute to the President of the Iraqi economy, and stressed that the total capital of Iraqi private banks reached one billion and $ 600 million during 2014, while the government has confirmed that it is currently considering a proposed several projects to strengthen infrastructure infrastructure for private banks and enable them to meet the challenges facing the country.
He says banking expert Majid Hilfi, in an interview for the (long-Presse) that "the deterioration of the banking reality and not arriving to the level of ambition due to the heavy legacy inherited by Iraq and led to the collapse of the economy and the failure of its banking system as a result of war and siege and militarization and implicate government banks internal and external financial relations complex" , is that "it led to the obvious weakness in the banking culture and the decline in international confidence and reverse the role of banks in the economic and developmental two activities."
He adds Hilfi, that "the Iraqi banks, governmental and private, began to recover after 2003 due to the presence of new laws and a wide area of the deal." adding, "but that" the political and security crisis cast a shadow over the industry and made his steps slow. "
says Commissioner of Bank Union Director, Aqeel trouble maker, in an interview for the (long-Presse) that "the Iraqi private banks did not take the proper horizon because their capital is greater than their deposits." , is that "it is a strange case because the opposite is imposed, and this thing has been imposed upon because of market management, and the laws prevailing so far."
It is noteworthy trouble maker, that "private banks are still experiencing a recession must governmental bodies to go with and interest in them because they are a real partner in the development of the economy and maintain the country's fiscal and monetary policy. "
But a member of the administrative body of the Association of private banks, Adnan al-Chalabi, seems optimistic because of what we have reached private banks, funds and expand its network in the Iraqi capital, despite its demand to amend the Banking Act, which constitutes a node preclude own evolution them.
Chalabi said in an interview for the (long-Presse) that "the total Iraqi private banks' capital increased from $ 30 million in 2004 to one billion and $ 600 million the end of the last in 2014, except for branches owned by Arab and foreign banks operating in Iraq."
He adds Chalabi "The number of private banks operating in Iraq rose from 17 in 2004 to 31 to the end of the last in 2014, while the number of branches has increased in Baghdad and other provinces from 100 to more than 600 to compete in the number and level of services Rafidain bank branches and good government."
turn says Council Advisor Minister for Economic Affairs, Abdul Hussain Anbaki, in an interview for the (long-Presse) "The Iraqi government can not ignore the role of private banks in the economy and stimulate investment and growth," and shows that "the government is currently considering more than one project to support private banks."
He adds Anbuge that of those "projects bill to save the financial deposits, and the recommendation to develop a financial government deposits with the private banks," is that it "contributes to the strengthening of infrastructure for private banks and enable them to cope with the financial and economic challenges facing the country."
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