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Rafidain Bank imposes conditions on the private banks on clearing instruments
Baghdad / Ali Author
The director of the Association of private banks Abdul Aziz Hassoun that the Rafidain Bank to set conditions before the private banks in terms of dealing instruments clearing procedure is unacceptable and not Basahih work currently, the fact that the exchange process is the basis of the activities of private banks in Iraq in particular and the world in general, and this action would hinder a lot of banking activity and work which requires reconsideration of the new.
Unacceptable ..
He said in an interview for (long) The setting conditions not we are familiar previously in dealing with private banks, such as placing a condition adverse to each bank to deposit and a half billion asset minimum in his account with the Rafidain Bank, for the latter's consent on the trading of private banks for instruments of cross-clearing system , which is unacceptable, especially if we know that the clearing system the major developments occurred during the past years, they no longer clearing traded manually, but electronically, it can not be a monetary instrument that is implemented via clearing without providing sufficient balance in the bank, and here there is no reasons to set the terms of the deal clearing instruments if they require electronic provide balance in the bank.
He Goldfinch that developments occur setoff trimmed length collection instruments and avoid risks that occur based on that of fraud instruments or lack of data in the instrument and the lack of sufficient balance in the bank and others, to become electronic clearing is currently in place, where they were to change instruments fully in terms of form and content, that were printed after the paper is now with modern specifications Kahtoaúha magnetic information can not be read with the naked eye, but within a specific program, a form of traded instruments currently in private banks.
He added that the collection of money under these instruments are in the city of Baghdad duration just 24 hours after the operation was take a full week, and in other provinces to 48 hours after that used to take two-week period, a development that significantly because of this program, which contributed to the CBI Tmla because of financial outlay large for the establishment of such a system sophisticated and modern and connect all banks through the system the Central Bank, which shares up trading instruments within the system of clearing during the month of September last about (180) billion dinars, a figure Mali is very large, as well as trading in U.S. dollars which are also made large sums of money is on the increase.
The Director of the Association of private banks to work this system in Iraq before in other countries like Lebanon State advanced in the banking, which was not used so far clearing system mail, as there is a new system other work is done in private banks, the Iraqi regime financial settlements RTGS which intended immediate settlement system overall, which is the financial is the other end of the advanced systems in the world and is used in government and private banks in Iraq alike, unlike the clearing system in which they operate private banks only, without government which reduces its usefulness significantly.
Positive variables
And between Goldfinch that private banks continue its work to support the companies the government sector, including the willingness to finance the purchase of two for the benefit of the Iraqi Airways, and here I took the governing body of the Association of private banks initiative to approach the Minister of Transport for the purpose of preparing for the formation of joint committees to draft a law whereby private banks to buy aircraft Airlines Iraq, and the Association continues to address the ministries in order to provide support from private banks for projects carried out by, and we had here runs from dealing with the Ministry of Industry and Minerals to support the government sector stalled for years.
He explained that this issue occurred variables positive in light of the decisions and recommendations of the Committee on Economic Affairs in the Council of Ministers to take Thread a new course to play private banks true role in the work of building and construction underway in the country, funding and support projects implemented by state-owned companies, and private banks have Replies in the exhibitions held both inside and outside Iraq, particularly in Baghdad International Fair edition of the 39 current wing special private banks within a patch job on the show floor, as we well as during the coming period to hold a special conference banks own in Iraq, where are preparing now for this Thread The conference was held as scheduled.
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Baghdad / Ali Author
The director of the Association of private banks Abdul Aziz Hassoun that the Rafidain Bank to set conditions before the private banks in terms of dealing instruments clearing procedure is unacceptable and not Basahih work currently, the fact that the exchange process is the basis of the activities of private banks in Iraq in particular and the world in general, and this action would hinder a lot of banking activity and work which requires reconsideration of the new.
Unacceptable ..
He said in an interview for (long) The setting conditions not we are familiar previously in dealing with private banks, such as placing a condition adverse to each bank to deposit and a half billion asset minimum in his account with the Rafidain Bank, for the latter's consent on the trading of private banks for instruments of cross-clearing system , which is unacceptable, especially if we know that the clearing system the major developments occurred during the past years, they no longer clearing traded manually, but electronically, it can not be a monetary instrument that is implemented via clearing without providing sufficient balance in the bank, and here there is no reasons to set the terms of the deal clearing instruments if they require electronic provide balance in the bank.
He Goldfinch that developments occur setoff trimmed length collection instruments and avoid risks that occur based on that of fraud instruments or lack of data in the instrument and the lack of sufficient balance in the bank and others, to become electronic clearing is currently in place, where they were to change instruments fully in terms of form and content, that were printed after the paper is now with modern specifications Kahtoaúha magnetic information can not be read with the naked eye, but within a specific program, a form of traded instruments currently in private banks.
He added that the collection of money under these instruments are in the city of Baghdad duration just 24 hours after the operation was take a full week, and in other provinces to 48 hours after that used to take two-week period, a development that significantly because of this program, which contributed to the CBI Tmla because of financial outlay large for the establishment of such a system sophisticated and modern and connect all banks through the system the Central Bank, which shares up trading instruments within the system of clearing during the month of September last about (180) billion dinars, a figure Mali is very large, as well as trading in U.S. dollars which are also made large sums of money is on the increase.
The Director of the Association of private banks to work this system in Iraq before in other countries like Lebanon State advanced in the banking, which was not used so far clearing system mail, as there is a new system other work is done in private banks, the Iraqi regime financial settlements RTGS which intended immediate settlement system overall, which is the financial is the other end of the advanced systems in the world and is used in government and private banks in Iraq alike, unlike the clearing system in which they operate private banks only, without government which reduces its usefulness significantly.
Positive variables
And between Goldfinch that private banks continue its work to support the companies the government sector, including the willingness to finance the purchase of two for the benefit of the Iraqi Airways, and here I took the governing body of the Association of private banks initiative to approach the Minister of Transport for the purpose of preparing for the formation of joint committees to draft a law whereby private banks to buy aircraft Airlines Iraq, and the Association continues to address the ministries in order to provide support from private banks for projects carried out by, and we had here runs from dealing with the Ministry of Industry and Minerals to support the government sector stalled for years.
He explained that this issue occurred variables positive in light of the decisions and recommendations of the Committee on Economic Affairs in the Council of Ministers to take Thread a new course to play private banks true role in the work of building and construction underway in the country, funding and support projects implemented by state-owned companies, and private banks have Replies in the exhibitions held both inside and outside Iraq, particularly in Baghdad International Fair edition of the 39 current wing special private banks within a patch job on the show floor, as we well as during the coming period to hold a special conference banks own in Iraq, where are preparing now for this Thread The conference was held as scheduled.
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