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04/08/2011
Baghdad Yasser incumbent continues to Iraqi private banks seeking to implement the decision of the Central Bank to raise their capital to 250 billion dinars, and in three stages until 2013 in order to respond to the requirements of reconstruction and construction and investment. The executive director of the Association of Iraqi private banks and the agency high-Nasser said 26 banks managed to raise their capital to 100 billion dinars mismatch exceed this figure as a first stage and there are 6-8 banks are trying to post and integration to achieve the goal. In answering the question: economic (morning) on the effects of this increase on the development, said Nasser: that this increase imposed may have influenced negatively on deposits where the moved case to the withdrawal of deposits for the purchase of shares and this, of course, a negative impact. He said there needs to be a government banks provided the private banking sector by reducing the monopoly of trading bank. He noted that the Association asked the Ministry of Finance to intervene to lift the restrictions on handling the ministries with the private banks so that they can play a bigger role in the development process. He noted that there are Arab banks and foreign've got to leave the practice in Iraq of many banking services, although the capital of one of them does not exceed $ 7 million, especially letters of guarantee as to refrain ministries and departments to take advantage of this service private banks. He explained that there are branches of the third-largest banks in Lebanon, 3 of which are in Erbil and 4 in Baghdad, in addition to 3 banks Turkish in Erbil and one bank in Baghdad and there are banks that two Iranians, one in Baghdad and in Basra. and on the question about the importance of these banks in the creation of competition, said Nasser : Yes, for these banks is important to support investment in the country but needed to lift restrictions on the opposition Iraqi Special to enable them to compete. and made four proposals to support the private banking sector in the forefront of a special law for Islamic Banks to the practice of business investment and profit-sharing and other activities. He also called for amending Article 28 of the law of private banks and allowing banks to trade openness on investment higher than determined by the central bank approvals private as well as the division of some government departments and the distribution of their deposits in private banks, according to what was the decision of the Economic Commission after obtaining the approval of the Central Bank on the performance of banks that can deal with it. He concluded his speech by Nasser (morning), proposed to establish a company to guarantee bank deposits to enable the citizen's confidence in dealing with private banks in particular, and it's response to the decision of the central increase their capital ..
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