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Critical of the economic weakness of the parliamentary support to domestic banks
On: Sun 02/05/2012 7:04
Baghdad / follow-up long
criticized the Economic Committee in the House of Representatives on Saturday the government banks to non-cooperation with the civil and support including leaves in front of the way for the introduction of foreign companies wishing to invest in the country.
said Chairman of the Committee Vian intruder, according to (Rn) that failure to provide support to the sector of private banks by banks government and relevant authorities have a negative impact on the entry of foreign investment companies to the country, especially if the private banks banks strong and solid and has the money which you can be occluded or broker to companies wishing to enter the country for investment.
The intruder said the government interest in banks civil step to expand the horizons of investment and give companies a new incentive to enter the local market.
and controls the largest two banks owned by the state and are the Rasheed Bank and Rafidain Bank on the banking system as it depends government institutions and private sector institutions on these two banks in financial transactions by 85% .
The country has about 36 private banks small heads limited funds charge high interest and refuses usually lending in the absence of a financial system effectively.
and decided in 2006, the restructuring of the banking sector to allow direct investment in banks and get rid of the heavy debt burden on the major banks owned by the state after decades of war and economic isolation. The government had decided last September to form a committee aimed at supporting economic transactions in the private banks and the expansion of exchanges of trade, while the drawn plan to give private banks broad powers are balanced with the powers of government banks.
and the central bank earlier announced a plan to conduct a twinning between the banks of Iraq and international banks for the development of the payments system in the banks of the country and the organization of financial trading and cash it.
to that proposed by the Economic Commission Nora Salem create a bank shareholder, involving local and foreign banks to facilitate the work of investment
, said Salem by: (agency news) that the investment process needs to a range of facilities and the removal of all the obstacles in front of the investors to attract them to the country and the creation of land suitable for the investment in it.
She Salem: that the most prominent obstacles that stand in front of the investor is banking that most of the Iraqi banks can not give large sums to investors.
and called for: the need to create a bank shareholder participation by banks government and private as well as foreign banks in Iraq to provide large sums of money are able to grant loans to investors, in addition to facilitating the work of traders who import goods in amounts too large.
The Economic Committee in the Council of Ministers decided to put the study in the creation of shareholder includes a group of local banks and the world's major.
For his part, Director of the Economy Bank for Investment and Finance Husam Obeid to tighten control over border crossings and the Iranian banks to combat smuggling and counterfeiting of currency, referring to the definition of citizen specifications of the official currency prevent the incidence victim of fraud by counterfeiters.
Obaid said, according to the Agency (news): The process of currency smuggling abroad and the introduction of counterfeit currency into the country have a significant adverse impact on the economy.
said slaves: that public awareness is very important in this area, it must be recognized by every citizen of the specifications of counterfeit currency, and the central bank to give the specifications of the official currency in order to avoid the occurrence of simple people victim for smugglers and counterfeiters.
and called on the media to campaign awareness and wide in this area.
and it is very important that is to tighten control over border crossings to reduce the smuggling of currency and control of some banks are exceptionally Obaid stressed the need to tighten controls on Iranian banks and the banks that are dealing with is the question very important in the fight against this phenomenon.
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