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The reality of private banks .. Banking families and shops for the banking and currency exchange
On: Tuesday 04/17/2012 19:13
Private banks give interest on deposits only and does not grant loans and advances
Citizen - Ahmed Darraji
experience of private banks in Iraq experience date back to the nineties of the last century, as is the experience of late compared to the world around Iraq, private banks that I want it to be an important tributary in the process of economic construction did not live up to the size of responsibility desired the presence of such banks, has counted some shortcomings in the vision and experience of investment economic, and attribute some of the other because of laws that restricted the movement and the work of banks, while many blame on the government economic policies which Hmstha, so limited its work on the deposits and withdrawals and currency trading in the buying and selling, despite the development of strategies and the work of banks and money management and methods of investment to contribute to the process of construction and economic development of the country.
work very late
the economic policy of free permits you to use the optimal scientific recycling of money roads methodology used in all countries of the world based on policies, banking and a clear chain of handling and trading through partnership between the bank and the beneficiary, whether through the implementation and completion of projects or the provision of banking facilities (loans and advances), the banking Asaad al-Obeidi sees through his introduction that the work of Iraqi banks eligibility too late, given the laws that curtailed the work of banks, he said, that most private banks closed in dealings and confined its role on the deposit and open (current accounts and savings), noting that this process does not serve the construction and development, because the capital remain rigid without the use of them.
loans difficult and complex
as seen from its side Ghada Sheikhly banking in the TBI work of the bank is limited to the deposit of funds by sending them to the Central Bank and the process earns the bank which profits a few may not fill the needs in most of the times, and followed that this work depends mainly on the citizen who opens an account that has both the account (in progress or savings), noting that the process of lending a difficult process and lost time and need for a long time to get (the customer) on the banking facilities, whether cash loans or letters of guarantee, noting that he must first opens an account in the bank, and after three months is entitled to submit the loan you are interest of 12% and a shot stages and within one year . This process, in my view does not serve the owner of the loan.
mistrust
For his part, Mahmoud Hassan Nostra, dealer, despite the novelty of her experience and how their performance ratio of trust between citizens and perhaps non-existent in some cases because of the violations that have occurred in several banks Kalorca and a branch of the Commercial Bank Iraq and the Bank of Basra, Al Ahli of the embezzlement of money, and manipulation of the capital of the beneficiaries have given an indication of the distrust and fear among some owners of capital invested by private banks, and continued: private banks find it from my point of view just impossible to Srifa and the exchange of currencies, alluding to it when you open ancestor of small businesses through banks accompanied by high commodity prices and goods within the market, noting that it contributes to high rates of inflation due to wage high interest on the loan amounts, which contributes to delays in the process of construction and economic development, it also does not serve the citizens in the implementation of the project economic help him improve his standard of living
while said Jamil Sadiq A citizens who have obtained a bank loan: The loan amount that you received did not I can implement a project of value and interest, indicating that the loan amount is small and inadequate compared to the price of goods and commodities prices.
families of the bank
and said one banker who preferred not to be identified that most of the private banks of Iraq and of which there are 32 banks in Iraq, we find different in terms of structural building and also in the dealings of banks and banks in the world because most of them are run by wealthy families, and although the Arab and foreign countries have managed the same way but not as translated These Iraqi families it is considered that the bank is owned by her and any officer in it does not have any rights is upheld factor they have but in the outside see just the opposite is quasi public, and that was owned by the family and there are guarantees for employees and the rights and others, as they are not managed by one person but through administrative institutions and advisers are returning the benefit, and for this we find the volume of violations rarely get it.
change the Banking Act,
an economic advisor Naaman Ghaidan felt that it can private banks to play a major role in supporting the Iraqi economy and promote the building of development on the Iraqi arena and the investment process that would move the machine forward and economic institutions of the state and the Iraqi Central Bank or other institutions to contribute to the revitalization of the work of these banks to achieve the desired interest .. He does not hide this fact that most of the banks (civil) suffered from negligence and reluctance to work, and must activate its role and achieve the benefit which it was created. He pointed out that the Banking Act of 2004 needs to be reconsidered in full there is a lot of variables that have occurred in Iraq and in the work of private banks, explaining that the amendment of Article (28), which was to prevent private banks from participating or engaging in large projects did not meet the ambitious and that the amendment was simple and does not open the doors of the work. According to article (28) of the Banking Act on (it is not permissible for any bank to exercise or participate as an agent, partner, or owner of the trade, wholesale or single or manufacturing processes, transfer, agriculture or fisheries, or mining or building or re-insurance or any activity or other work is licensed).
so called economic expert of private banks in Iraq to be influential in the local economy by giving loans and advances to citizens, taking into account the calculated risks when given to those funds.
said Essam Mahouelle that banking requires that launches banks (governmental and private) Advances and loans to various people because of the profound impact in the economy and that comes from moving the money and invested in various projects. He Mahouelle's (Citizen) that foreign banks granted loans to its citizens on favorable terms is not the complexity, because that would move the wheel of the economy by moving the market through the purchase of construction materials used in construction. He pointed out that Iraqi banks are still working mentality Ottoman Empire in financial dealings with the citizens with evidence that some banks are still operating the system on paper not Ttakt so far the barrier of fear of electronic trading in the circulation of money.
called the Central Bank of the private banks to increase its capital to 250 billion Iraqi dinars The three phases are the installment amount in installments in the first term of June 30 at the end when the last payment on June 30, 2013. A source at the Central Bank declined to be named for the (citizen) in case you can not private banks to increase capital in the period mentioned it the choice between integration with other banks or companies to turn to for the money transfer. The source added that the bank demanded that the banks depositing funds at IPO has subscribed to shares in private banks, while refuse for reasons that may be known. He pointed out that some of the private banks insist on accusing the central bank to restrict their panels in place while this procedure ensures all rights.
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