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Bitter melon: the need for legislation and laws flowing toward a partnership between the state and the private banking sector
1/6/2015
BAGHDAD
President of the Iraqi private banks association meek Nuri al-Handal stressed the need for legislation and laws flowing toward finding an effective partnership between the state and the private banking sector, describing the decisions issued by the Committee on Economic Affairs in the Cabinet, recently, with the support of the private banking sector, a step in the right direction, especially as it coincides with a critical phase experienced by the private banking sector and where you need to strengthen the confidence in him, in a way that his role development at the level of state jobs and society. "
The representative of the Association of the Economic Commission meek bitter melon in a statement to the Iraqi News / Nina / "National Agency that There is a great need for the expansion of banking activity to include the different parts of the country, in support of increased banking density desired rates taking care to establish banking units actors can meet the requirements of providing more-than-expected her banking products that can accommodate if it has been activated decisions of the Economic Committee and to respond to the content and goals taking into account the focus on the principle of quality management as a step towards the adoption of international standards and keep pace with progress in the sector globally. "
said Handal, "The private banks are very optimistic the exit of the Iraqi economy from its current crisis, especially if what was activated steps related to the economic reforms in the forefront of them, what must include banking by sector where is supportive of the development of the financial arm, calling for the support of the Iraqi Central Bank to raise the level of performance of the banking sector, there is also a need for legislation and laws are in the goal of creating an effective partnership between the state and the private sector. "
and "that all of Iraq's banking community welcomed the decisions issued by the Committee on Economic Affairs in the Cabinet, because it is the legislator who can own banks window adopted to enhance its contribution to the revitalization of the Iraqi economy, especially if what has been the credit capacity of the private banking sector development and the link with the aim of activating the financing and lending to enterprises, especially small and medium ones. "
The of the Council of Ministers of the Economic Commission has issued decisions, including the recommendation to grant the public sector companies the option to deposit their money and open their accounts in private banks as well as deposit and the distribution of its members' salaries by those banks as well as the approval of the gradual implementation of the deposit of employees and retirees of the Chambers of central funding salaries in private banks with taking into account the need to provide branches of the private banks, which believes in the provision of services to the beneficiaries of this system and make sure the conditions of banks in coordination with the Central Bank. "
The Committee agreed that the private banks to issue certified instruments and accepted by the government departments and public corporations with banks commitment to providing adequate funds in their accounts with the Central Bank of Iraq and the lack of exposure in addition to the claim of the Ministry of Finance and the Central Bank has adopted the resolution on the opening of letters of credit to the private banks up to ten million dollars without passing Iraqi bank to Tjarh.kma Committee agreed also that each of the Rafidain and Rasheed deposit of part of their funds with private banks and invest that money in investment projects as well as the Trade Bank of Iraq to open credit lines with private banks under the supervision of the Central Bank of Iraq and the acceptance of letters of guarantee issued by private banks.
It consists of the Iraqi banking system of 54 banks, including seven state-owned, one of them an Islamic newly established and there are 23 commercial banks special nine Islamist There are also 15 branches of Arab banks and foreign as well as many of the institutions that do some banking, including 24 money transfer company and nearly 200 belonging to the banks banking company or dealing with banks with loan guarantee company and to finance small and medium enterprises with two service banking electronic smart card in addition to about a thousand a subsidiary of the private banks and distributed to Iraqi provinces where about 10 000 employees work. "
testifies the private sector has deteriorated significantly after 2003 due to the lifting of government support him, which led to most of the laboratories and factories stopped working because of their inability to compete imported goods imported large operations are not subject to fees
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1/6/2015
BAGHDAD
President of the Iraqi private banks association meek Nuri al-Handal stressed the need for legislation and laws flowing toward finding an effective partnership between the state and the private banking sector, describing the decisions issued by the Committee on Economic Affairs in the Cabinet, recently, with the support of the private banking sector, a step in the right direction, especially as it coincides with a critical phase experienced by the private banking sector and where you need to strengthen the confidence in him, in a way that his role development at the level of state jobs and society. "
The representative of the Association of the Economic Commission meek bitter melon in a statement to the Iraqi News / Nina / "National Agency that There is a great need for the expansion of banking activity to include the different parts of the country, in support of increased banking density desired rates taking care to establish banking units actors can meet the requirements of providing more-than-expected her banking products that can accommodate if it has been activated decisions of the Economic Committee and to respond to the content and goals taking into account the focus on the principle of quality management as a step towards the adoption of international standards and keep pace with progress in the sector globally. "
said Handal, "The private banks are very optimistic the exit of the Iraqi economy from its current crisis, especially if what was activated steps related to the economic reforms in the forefront of them, what must include banking by sector where is supportive of the development of the financial arm, calling for the support of the Iraqi Central Bank to raise the level of performance of the banking sector, there is also a need for legislation and laws are in the goal of creating an effective partnership between the state and the private sector. "
and "that all of Iraq's banking community welcomed the decisions issued by the Committee on Economic Affairs in the Cabinet, because it is the legislator who can own banks window adopted to enhance its contribution to the revitalization of the Iraqi economy, especially if what has been the credit capacity of the private banking sector development and the link with the aim of activating the financing and lending to enterprises, especially small and medium ones. "
The of the Council of Ministers of the Economic Commission has issued decisions, including the recommendation to grant the public sector companies the option to deposit their money and open their accounts in private banks as well as deposit and the distribution of its members' salaries by those banks as well as the approval of the gradual implementation of the deposit of employees and retirees of the Chambers of central funding salaries in private banks with taking into account the need to provide branches of the private banks, which believes in the provision of services to the beneficiaries of this system and make sure the conditions of banks in coordination with the Central Bank. "
The Committee agreed that the private banks to issue certified instruments and accepted by the government departments and public corporations with banks commitment to providing adequate funds in their accounts with the Central Bank of Iraq and the lack of exposure in addition to the claim of the Ministry of Finance and the Central Bank has adopted the resolution on the opening of letters of credit to the private banks up to ten million dollars without passing Iraqi bank to Tjarh.kma Committee agreed also that each of the Rafidain and Rasheed deposit of part of their funds with private banks and invest that money in investment projects as well as the Trade Bank of Iraq to open credit lines with private banks under the supervision of the Central Bank of Iraq and the acceptance of letters of guarantee issued by private banks.
It consists of the Iraqi banking system of 54 banks, including seven state-owned, one of them an Islamic newly established and there are 23 commercial banks special nine Islamist There are also 15 branches of Arab banks and foreign as well as many of the institutions that do some banking, including 24 money transfer company and nearly 200 belonging to the banks banking company or dealing with banks with loan guarantee company and to finance small and medium enterprises with two service banking electronic smart card in addition to about a thousand a subsidiary of the private banks and distributed to Iraqi provinces where about 10 000 employees work. "
testifies the private sector has deteriorated significantly after 2003 due to the lifting of government support him, which led to most of the laboratories and factories stopped working because of their inability to compete imported goods imported large operations are not subject to fees
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