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Bankers: the integration of small banks to ensure their survival in the global economy map
Baghdad / tributary cactus
Said banking specialists in regard to the integration of small banks with each other to ensure the survival and competitiveness in the global economy map pointing out that developed countries at present to seek establishment of giant banks by the Federation of banking institutions to serve as the top players in the field of banking.
The head of the Association of private banks Abdul Aziz Hassoun said in an interview to the extent that: "the banking system in the country consists of a large group of small banks that can not keep pace with developments in the banking sector in the countries of the world advanced" pointing out that the best way for the advancement of these small banks calls for it to merge with each other, indicating that international banks have made in advanced stages of cooperation emerged as a major global banks the product of the merger.
He Goldfinch: "There is no doubt that local banks need to take some time to convince the world seriously banking Iraqi following up" The Iraqi banks have strengthened their capital according to the financial statements for 2012 and the central bank has covered credits that you open banks, encouraging international banks to deal with local banks supporting the Central Bank guarantees to facilitate the obligations of these banks to international banks.
For his part, said economic expert Farouk Ramadan (range) "must determine central bank banks sober that contribute to the process of economic development for others that need to strengthen their capacity and expertise through merger.
Ramadan added: Iraqi banks seeking its best to keep pace with the developments but the issue is not limited to only International relations are very important Iraq with the present economic strength is its weight in the world.
He noted that electric power is very necessary for the development of Iraqi banks through the need for devices operate continuously.
Baghdad has seen a recent TAF economic and banking, who has called for twinning of private banks with Arab world in order to develop the economic and banking sector in the country. "
The Banking Act No. 94 of 2004 in general, laws advanced in the world, but he has abounded observations around the bodies covered by this law, because of the lack of clarity of some of its articles and circumstances raised, asked for a large number of banks need to be adjusted to keep pace with development processes that in global banks.
It is noted that despite the proliferation of private banks in Iraq, which amounted to more than 30 banks, but these banks did not play a pivotal role in the process of economic development in Iraq because of the smallness Add to move away governmental institutions to deal with it because of the reluctance of some private banks in their work.
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