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Iraq: private banking contributing 10 operations sector
June 20 2011
He attributed the Chairman of the Board of Directors «Iraqi Investment Bank» THAMER shaikhali, poor performance of the private banking sector lack cash management experience for many Iraqi banks and control Government banks in banking, in addition to other factors.
According to «life» private Iraqi banks, although some 36 banks, national banking contribution not exceeding 10 percent, due to concern that private banking sector due to the dominance of government sector activity relevant to the national development process.
He gunned down the Government's decision to limit transactions «banking with State banks, private banks contributed to disable despite Central Bank supervision work, and its commitment to monetary policy, saying that «» balances private banks exceed 30 trillion dinars» (25.7 billion dollars). Legal counsel in Muhammed Fadil Jawad stressed that «private banks require integration with a view to raising capital and prevent any snags encountered citizens and companies that deposited funds then», «performance private banking does not live up to foreign banks or even regional cash management» limited experience. The integration of private banks and expanding its management will contribute to trust and investment companies by».
A number of economists that private banks do not have the tools to promote the country's monetary and economic realities. The Central Bank was finally announced that he would give a number of licences to establish private banks, saying rising banks will enhance the economic role of the country. He denied that private banks in danger, as the Ministry of finance. The total capital of $ 1.6 billion private banks, with the exception of its Arab and foreign bank branches operating in the country.
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June 20 2011
He attributed the Chairman of the Board of Directors «Iraqi Investment Bank» THAMER shaikhali, poor performance of the private banking sector lack cash management experience for many Iraqi banks and control Government banks in banking, in addition to other factors.
According to «life» private Iraqi banks, although some 36 banks, national banking contribution not exceeding 10 percent, due to concern that private banking sector due to the dominance of government sector activity relevant to the national development process.
He gunned down the Government's decision to limit transactions «banking with State banks, private banks contributed to disable despite Central Bank supervision work, and its commitment to monetary policy, saying that «» balances private banks exceed 30 trillion dinars» (25.7 billion dollars). Legal counsel in Muhammed Fadil Jawad stressed that «private banks require integration with a view to raising capital and prevent any snags encountered citizens and companies that deposited funds then», «performance private banking does not live up to foreign banks or even regional cash management» limited experience. The integration of private banks and expanding its management will contribute to trust and investment companies by».
A number of economists that private banks do not have the tools to promote the country's monetary and economic realities. The Central Bank was finally announced that he would give a number of licences to establish private banks, saying rising banks will enhance the economic role of the country. He denied that private banks in danger, as the Ministry of finance. The total capital of $ 1.6 billion private banks, with the exception of its Arab and foreign bank branches operating in the country.
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