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Private banks hopes lift dealings with ministries
June 6 2011
Expectations of achieving capital 3,500 billion dinars
Baghdad Yasser ascendant
In response to the decision of the Board of Directors of the Central Bank of Iraq compel banks increase their capital to reach 250 billion dinars on 30/6/2013 and in stages, took private banks alone implement content resolution.
Announcement (morning) Member, governing body of the Association of private banks in Iraq Ziad Hashim Abbas, said although the central decision follow-up was limited to private banks, they have already committed some even exceeded minimum capital amounted to 200 billion dollars each year 2011.
He added that this in itself reflects the desire to respond to developments and requirements of the promotion and maintenance of financial entities to private banks in preparation for its role in financing and assigning different economic actors.
In contrast, requires that government agencies and employers to expand its dealings with private banks so that banks from investing their technical potential in line with the global performance of banks. Abbas predicted that capital block of private banks to 3,500 billion dinars a block investment and attention must not be overlooked disabled as it waikaeha with 32 banks add to 9 branches of Arab and foreign banks, all of which use modern banking systems and global means of communication through the swift network in addition to the payments system founded by the Central Bank and the total system compromise.
He said some banks started to apply the electronic clearing system earlier this year, is expected to be applied by all banks early next month, 1.6-collection of instruments alzaban account during a period not exceeding 48 hours, he is a member of the governing body of the Association to say that we expect the financial actors, as promised by the Minister of finance during a meeting recently with a number of private banks to revitalize and expand the role of the private sector and private banks and granted wider area in financial transactions and also looks forward to Attribution of the monetary authority of the Iraqi Central Bank, which oversees and supervises the work and functioning of private banks approved.
The central decision requiring banks raise capital gradually according to the following ratios of 100 billion dinars at a minimum on 30 June 2011, bringing to 150 billion dinars on 30 June 2012, reaching 250 billion dinars on 30 June 2013 at some banks, the 12 banks for other banks sought to achieve the objective and the possibility of seeking to achieve integration and negotiate those ratios.
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June 6 2011
Expectations of achieving capital 3,500 billion dinars
Baghdad Yasser ascendant
In response to the decision of the Board of Directors of the Central Bank of Iraq compel banks increase their capital to reach 250 billion dinars on 30/6/2013 and in stages, took private banks alone implement content resolution.
Announcement (morning) Member, governing body of the Association of private banks in Iraq Ziad Hashim Abbas, said although the central decision follow-up was limited to private banks, they have already committed some even exceeded minimum capital amounted to 200 billion dollars each year 2011.
He added that this in itself reflects the desire to respond to developments and requirements of the promotion and maintenance of financial entities to private banks in preparation for its role in financing and assigning different economic actors.
In contrast, requires that government agencies and employers to expand its dealings with private banks so that banks from investing their technical potential in line with the global performance of banks. Abbas predicted that capital block of private banks to 3,500 billion dinars a block investment and attention must not be overlooked disabled as it waikaeha with 32 banks add to 9 branches of Arab and foreign banks, all of which use modern banking systems and global means of communication through the swift network in addition to the payments system founded by the Central Bank and the total system compromise.
He said some banks started to apply the electronic clearing system earlier this year, is expected to be applied by all banks early next month, 1.6-collection of instruments alzaban account during a period not exceeding 48 hours, he is a member of the governing body of the Association to say that we expect the financial actors, as promised by the Minister of finance during a meeting recently with a number of private banks to revitalize and expand the role of the private sector and private banks and granted wider area in financial transactions and also looks forward to Attribution of the monetary authority of the Iraqi Central Bank, which oversees and supervises the work and functioning of private banks approved.
The central decision requiring banks raise capital gradually according to the following ratios of 100 billion dinars at a minimum on 30 June 2011, bringing to 150 billion dinars on 30 June 2012, reaching 250 billion dinars on 30 June 2013 at some banks, the 12 banks for other banks sought to achieve the objective and the possibility of seeking to achieve integration and negotiate those ratios.
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