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The future of government banking
Economical 2023/08/27
Muhammad Sharif Abu Maysam
The decision to merge banks, "including government ones", that are unable to raise the value of their capital to no less than 400 billion dinars within a maximum period of 12/31/2024 was not surprising, as
it was mentioned in the economic reform paper or the so-called white paper that approved In October 2020, in Seventh - the second axis - first - qualifying the financial sectors, a text stating "addressing the level of capital of all government banks, and organizing the process of increasing their capital if necessary."
As stated in it with regard to the financial and administrative restructuring of government banks in preparation for the merger, since some of these banks suffer from financial imbalances resulting from high rates of suspensions and uncollectible debts, in addition to being late in the axis of introducing technologies and automating banking operations.
Since then, all possibilities have become available regarding the future of government banks, and
we are in the process of preparing for a new banking reality that is in line with the scene of the market economy, in addition to what was said about replacing the private banking sector with the government banking sector in the task of managing the development process under the conditions of economic reform.
This matter was not hidden from some observers and some workers in the banking sector, according to what was stated in the same paper regarding the privatization or liquidation of loss-making public companies, which makes government banks, as public companies, candidates for privatization if they are losing.
This means that the banking sector will witness a new transition, paving the way for the transition of government banks to the market under the economic reform program that the country was committed to, according to the conditions of indebtedness and integration with the economy led by the institutions of globalization.
However, what is important in this matter is to give an opportunity to government banks whose departments achieve success and growth before the merger, through the independence of their boards of directors and their exit from the routine routine performance and liberation from bureaucratic restrictions under the pretext of complying with instructions and orders, especially those instructions and orders that are not productive, and
thus maximizing the role of successful departments To be a building block for the foundation of partnership between the public and the private, and
we are in the process of strengthening the state’s support in the scene of market liberalism, in which globalization capitalists are trying to replace their authority with the authority of the state, and
it is also important to adopt a mechanism that does not overlook the small details in the stages of integration.
A legal system that regulates the transition process and prevents the “comrador” class from taking over the state banking sector, as in the experiences of developing countries that witnessed such a transformation.
https://alsabaah.iq/83172-.html
Economical 2023/08/27
Muhammad Sharif Abu Maysam
The decision to merge banks, "including government ones", that are unable to raise the value of their capital to no less than 400 billion dinars within a maximum period of 12/31/2024 was not surprising, as
it was mentioned in the economic reform paper or the so-called white paper that approved In October 2020, in Seventh - the second axis - first - qualifying the financial sectors, a text stating "addressing the level of capital of all government banks, and organizing the process of increasing their capital if necessary."
As stated in it with regard to the financial and administrative restructuring of government banks in preparation for the merger, since some of these banks suffer from financial imbalances resulting from high rates of suspensions and uncollectible debts, in addition to being late in the axis of introducing technologies and automating banking operations.
Since then, all possibilities have become available regarding the future of government banks, and
we are in the process of preparing for a new banking reality that is in line with the scene of the market economy, in addition to what was said about replacing the private banking sector with the government banking sector in the task of managing the development process under the conditions of economic reform.
This matter was not hidden from some observers and some workers in the banking sector, according to what was stated in the same paper regarding the privatization or liquidation of loss-making public companies, which makes government banks, as public companies, candidates for privatization if they are losing.
This means that the banking sector will witness a new transition, paving the way for the transition of government banks to the market under the economic reform program that the country was committed to, according to the conditions of indebtedness and integration with the economy led by the institutions of globalization.
However, what is important in this matter is to give an opportunity to government banks whose departments achieve success and growth before the merger, through the independence of their boards of directors and their exit from the routine routine performance and liberation from bureaucratic restrictions under the pretext of complying with instructions and orders, especially those instructions and orders that are not productive, and
thus maximizing the role of successful departments To be a building block for the foundation of partnership between the public and the private, and
we are in the process of strengthening the state’s support in the scene of market liberalism, in which globalization capitalists are trying to replace their authority with the authority of the state, and
it is also important to adopt a mechanism that does not overlook the small details in the stages of integration.
A legal system that regulates the transition process and prevents the “comrador” class from taking over the state banking sector, as in the experiences of developing countries that witnessed such a transformation.
https://alsabaah.iq/83172-.html
