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Iraq: private banks demanding equal application of the decisions of banks, government
ID number: 2428 Issue Date: 26/12/2011 day: Monday
Last Updated: 26/12/2011
BAGHDAD - Follow-up:
Iraqi private banks renewed their appeal for the Iraqi Finance Minister Rafie al-Issawi intervention to lift the injustice it, in light of the decisions and directives of the ministerial is entirely incompatible with the above private banks that received from the government promises with regard to dealing with government, similar to banks.
The Executive Director Abdul Aziz Hassoun was surprised that the banks own the book issued by the Ministry of Finance addressed to the Ministry of Electricity and advising them not to deal with the private banks and institutions, in order to preserve public funds. He noted that the Association took the initiative to write to the Minister of Finance required him to intervene personally to put an end to such actions, which is contrary to what was given by government agencies that the "private sector should take its role in local economic activity that contribute to the return of well-being for various economic sectors."
The Association expressed the hope that the Minister of Finance issued a bold and clear instructions for all government institutions, private banks that are licensed banks, working under the supervision of the Central Bank of Iraq.
On a related issue, said Hassoun that private banks waiting for the completion of the inter obstacles to allow it to activate the decision to open a bank credits for development projects, worth up to $ 4 million, after he was the ultimate allowable two million, adding that the decision to lift the ceiling is of great significance widening the circle of activity related to the private banking sector in development projects, because the participation rate of private banks which do not exceed 3 percent, according to estimates by those concerned.
It is noted that the chairman of Bank of "Assyria" international depositary of Nuri al-Handal, who represented the Iraqi private banks participating in the "Union of Arab Banks," held in Beirut late last month, held a meeting on the sidelines of the conference with the Director-General of the "Bank of Commerce," the Iraqi Hamdiya dry, which he discussed the obstacles that hinder the activity of private Iraqi banks.
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ID number: 2428 Issue Date: 26/12/2011 day: Monday
Last Updated: 26/12/2011
BAGHDAD - Follow-up:
Iraqi private banks renewed their appeal for the Iraqi Finance Minister Rafie al-Issawi intervention to lift the injustice it, in light of the decisions and directives of the ministerial is entirely incompatible with the above private banks that received from the government promises with regard to dealing with government, similar to banks.
The Executive Director Abdul Aziz Hassoun was surprised that the banks own the book issued by the Ministry of Finance addressed to the Ministry of Electricity and advising them not to deal with the private banks and institutions, in order to preserve public funds. He noted that the Association took the initiative to write to the Minister of Finance required him to intervene personally to put an end to such actions, which is contrary to what was given by government agencies that the "private sector should take its role in local economic activity that contribute to the return of well-being for various economic sectors."
The Association expressed the hope that the Minister of Finance issued a bold and clear instructions for all government institutions, private banks that are licensed banks, working under the supervision of the Central Bank of Iraq.
On a related issue, said Hassoun that private banks waiting for the completion of the inter obstacles to allow it to activate the decision to open a bank credits for development projects, worth up to $ 4 million, after he was the ultimate allowable two million, adding that the decision to lift the ceiling is of great significance widening the circle of activity related to the private banking sector in development projects, because the participation rate of private banks which do not exceed 3 percent, according to estimates by those concerned.
It is noted that the chairman of Bank of "Assyria" international depositary of Nuri al-Handal, who represented the Iraqi private banks participating in the "Union of Arab Banks," held in Beirut late last month, held a meeting on the sidelines of the conference with the Director-General of the "Bank of Commerce," the Iraqi Hamdiya dry, which he discussed the obstacles that hinder the activity of private Iraqi banks.
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