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Expert: stock market is encouraging and small banks will disappear
Date: Thursday, 03.01.2012 7:59
Baghdad / term
financial expert, said Abdul Sattar al-Bayati, that the work of the stock market is not encouraging despite the entry of modern technology, likely withdrawal of small banks in the event of entry of banks merged with large amounts of capital. Bayati said, according to the Agency (news):
The stock market in Iraq since (2003) and even now is still not encouraging and the failure in spite of developments in them and the introduction of the technology and the use of electronic devices because of the vision inadequate for this market and perhaps there is no doubt in his role in the economic development of the country.
He added that investment in stock market is an investment indirectly through the contribution of corporate development, banking finance, pointing out that the banking sector is unable to perform his role properly in the process of economic development despite the fact that the country was relying upon to perform important role in the economic reform process of the country.
He pointed out that local banks small if not developed itself to possess large sums of money they would withdraw from the stock market in the event of entry of large banks and the capital-high may be integrated with banks, other world because they are not able to compete with these banks.
suggested al-Bayati: merger of banks, the small with the other large to be have large amounts of capital through which it can compete with the banks in the banking transactions in the local bourse.
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