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Daralehiah - 04/03/2012
Iraqi banks demanding a law to guarantee deposits
Iraqi banks demanding a law to guarantee deposits
He bankers Iraqis that the banking sector has become a source of concern for traders, contractors and citizens, which requires the establishment of the bank top to oversee the banking supervision and to highlight the importance of monitoring capital adequacy and adherence to the provision of international standards set forth in the Treaty «Basel - 3», especially in the field of performance evaluation and classification of banks.
The Executive Director of the «Association of Iraqi private banks», Abdulaziz, Hassoun said in an interview to «life», that the draft reform of the banking system was the focus of a paper presented at the symposium on the sector this week, and included an invitation to pass a law to guarantee bank deposits and the establishment of an independent body to guarantee the participation of Central Bank and the Ministry of Finance, and shall have the powers of an independent monitor the performance of the sector and the safety of deposits with an emphasis on the need to invest these deposits in the software industry, housing and agriculture, with the adoption of programs to encourage citizens to deposit in banks and building confidence between the citizen and the private sector, especially that of deposits in private banks, amounting to about eight trillion dinars (seven billion dollars).
Increase banks' branches
Hasson pointed to the adoption of the participants in the symposium invitation to increase the banks' branches operating within five years, to at least eight times what it is, depending on the standard population. He pointed out that the economic system is working in Iraq under the mantle of the old legislation, and thus there is a need to develop new legislation provides for different sectors of adequate safeguards for the exercise of its activity without hesitation.
He pointed out that the private sector, particularly private banks touch the superiority in the government will deal with it, is in the procedures of the Ministry of Finance in the province and the prevention of dealing with it in the form of direct, explaining that the parking financial authority against the support of the Central Bank of the banking sector, is a major obstacle in the pursuit of the other parties to provide support for private banks.
The Hasson that the adoption of banking systems, advanced information management processes, and the use of debit cards, electronic dissemination of ATMs across Iraq, has become a necessity for the development of economic activity at the level of a commercial network based credit cards and reduce pressure on the exchange of banknotes.
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Iraqi banks demanding a law to guarantee deposits
Iraqi banks demanding a law to guarantee deposits
He bankers Iraqis that the banking sector has become a source of concern for traders, contractors and citizens, which requires the establishment of the bank top to oversee the banking supervision and to highlight the importance of monitoring capital adequacy and adherence to the provision of international standards set forth in the Treaty «Basel - 3», especially in the field of performance evaluation and classification of banks.
The Executive Director of the «Association of Iraqi private banks», Abdulaziz, Hassoun said in an interview to «life», that the draft reform of the banking system was the focus of a paper presented at the symposium on the sector this week, and included an invitation to pass a law to guarantee bank deposits and the establishment of an independent body to guarantee the participation of Central Bank and the Ministry of Finance, and shall have the powers of an independent monitor the performance of the sector and the safety of deposits with an emphasis on the need to invest these deposits in the software industry, housing and agriculture, with the adoption of programs to encourage citizens to deposit in banks and building confidence between the citizen and the private sector, especially that of deposits in private banks, amounting to about eight trillion dinars (seven billion dollars).
Increase banks' branches
Hasson pointed to the adoption of the participants in the symposium invitation to increase the banks' branches operating within five years, to at least eight times what it is, depending on the standard population. He pointed out that the economic system is working in Iraq under the mantle of the old legislation, and thus there is a need to develop new legislation provides for different sectors of adequate safeguards for the exercise of its activity without hesitation.
He pointed out that the private sector, particularly private banks touch the superiority in the government will deal with it, is in the procedures of the Ministry of Finance in the province and the prevention of dealing with it in the form of direct, explaining that the parking financial authority against the support of the Central Bank of the banking sector, is a major obstacle in the pursuit of the other parties to provide support for private banks.
The Hasson that the adoption of banking systems, advanced information management processes, and the use of debit cards, electronic dissemination of ATMs across Iraq, has become a necessity for the development of economic activity at the level of a commercial network based credit cards and reduce pressure on the exchange of banknotes.
[You must be registered and logged in to see this link.]
