Home
Despite their large numbers...a shocking percentage of government and private bank services in Iraq
Time: 08/02/2024 14:03:23 Read: 1,573 times
{Economic: Al-Furat News} A government advisor revealed a shocking percentage and number of banking services in the public and private sectors provided to the public in Iraq.
Mazhar Muhammad Saleh told {Al-Furat News} agency,
“The lesson in the stability of the banking market in particular and the financial market in general is not the large number of private banks and financial companies, as
the lesson lies in achieving (financial depth), which means how much banking and financial activities and services contribute to the growth of output.”
The annual gross domestic product in the country, that is, through the capacity of services provided by these banking companies to the public, in quality and quantity, to maximize the added value in economic activity. He added that
these banking services “in the gross domestic product revolve around a growth rate that does not exceed 1.5% in most cases,
which is a low percentage compared to developed countries where this percentage rises to more than 20%.” Saleh stated,
“Accordingly, the sobriety and stability of the financial and banking market in particular is measured by the number of services provided to the public, and the
number of its services still does not exceed 12 services at best, while
it should rise to 45 banking services as a minimum.” He continued,
"As for banking density, which is measured by the population's share of bank branch services, despite the huge number of government and private banks, the share of their branches in providing banking services to the population is still low." He explained,
"It is noted that the services of a single branch of these banks are still disproportionate to the population.
The banking density in our country is approximately 40 thousand people per branch on average, while it should not exceed ten thousand people per branch unless it is less, as is the case
in the countries of the developed world, which One branch provides its services to an average of no more than six thousand people per banking branch.”
https://alforatnews.iq/news/رغم-كثرة-أعدادها-نسبة-صادمة-لخدمات-المصارف-الحكومية-والأهلية-في-العراق
Time: 08/02/2024 14:03:23 Read: 1,573 times
{Economic: Al-Furat News} A government advisor revealed a shocking percentage and number of banking services in the public and private sectors provided to the public in Iraq.
Mazhar Muhammad Saleh told {Al-Furat News} agency,
“The lesson in the stability of the banking market in particular and the financial market in general is not the large number of private banks and financial companies, as
the lesson lies in achieving (financial depth), which means how much banking and financial activities and services contribute to the growth of output.”
The annual gross domestic product in the country, that is, through the capacity of services provided by these banking companies to the public, in quality and quantity, to maximize the added value in economic activity. He added that
these banking services “in the gross domestic product revolve around a growth rate that does not exceed 1.5% in most cases,
which is a low percentage compared to developed countries where this percentage rises to more than 20%.” Saleh stated,
“Accordingly, the sobriety and stability of the financial and banking market in particular is measured by the number of services provided to the public, and the
number of its services still does not exceed 12 services at best, while
it should rise to 45 banking services as a minimum.” He continued,
"As for banking density, which is measured by the population's share of bank branch services, despite the huge number of government and private banks, the share of their branches in providing banking services to the population is still low." He explained,
"It is noted that the services of a single branch of these banks are still disproportionate to the population.
The banking density in our country is approximately 40 thousand people per branch on average, while it should not exceed ten thousand people per branch unless it is less, as is the case
in the countries of the developed world, which One branch provides its services to an average of no more than six thousand people per banking branch.”
https://alforatnews.iq/news/رغم-كثرة-أعدادها-نسبة-صادمة-لخدمات-المصارف-الحكومية-والأهلية-في-العراق
