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Author: HAA
Editor: BK, NK 3.6.2013 19:02
NewsID=13023[You must be registered and logged in to see this image.]
Range Press / Baghdad
Revealed Foundation Singaporean money management, said Monday that the five private banks in Iraq has achieved total profit than the 207 percent during the past three two, while expected to continue that sector profitability and growth in capital over the next decade, despite the difficult business in Iraq, called Iraqi banks because "overcome some of the challenges" to continue its increasing growth. "
Foundation said Sansar Sansar Singaporean Capital Management, which is "the biggest investor" in Iraq, in its report, reported on (Global Finance) of the Economic News, today, and seen (long-Presse) on it, "The top five banks, non-governmental organizations in Iraq reaped through period from 2010 to 2012, doubled its profits to 207 percent thanks to strong economic growth of the country with the increase in the demand for bank credit, "pointing out that such" private banks, is north of Baghdad, the Middle East Iraqi investment, Kurdistan International Bank (Islamic bank) and Dar es Salaam Investment, which owns the British HSBC investment company 70 percent of its shares. "
She Sansar, in its report, that with "the growth of oil production, also increased the growth rate of the gross domestic product of Iraq GDP", indicating that "the IMF is expected to increase the growth rate of nine percent during the year 2013 the current, having been increased by 8.4 percent in past the year 2012. "
According to the Foundation in its report that in exchange for that growth, "the government banks seven in Iraq accounts for 91 percent of deposits," afterthought "but suffered disability because of bad loans granted by, as has been restructured largest banks government in the country and are Rafidain and Rasheed, with the assistance from the World Bank. "
The report quoted the Director General of the Foundation Sansar Singapore, Sanji موتواني, saying that "GDP growth for Iraq and the revenues of the banking sector are going parallel to the improved security situation," but he assured that "rates of violence in Chicago than rates Iraqi regard to crimes of murder everyday."
The report also said that despite the "survival of Iraq as a place difficult to do business, the banking sector future over the next decade to make profits and growth in the capital," noting that "based on the information the World Bank appropriations local in Iraq accounted for nine percent of all the growth rate of its output, compared to 55 percent in the other countries of the Middle East and North Africa, and more than 80 percent of Iraqis do not have bank accounts, and there are ATMs and one ATM for every 100 thousand Iraqis. "
It concluded Foundation Sansar Singapore, that "there is a negative relationship between the cumulative value of speculative rates and increase the value of traditional, such as those related to economic growth and returns as equal," and attributed this to "double the efficiency of the market, for reasons of lack companies to analyze the economic basis", however, had this " things are expected to go away. "
Stressed institution on the need to "overcome Iraqi banks some of the challenges to continue their growth increasing," and that these "challenges by deposits, which is spotty and uneven," explaining that "the government projects are prohibited from developing ايداعاتها in private banks," according to the website (Global Finance) always.
It is noteworthy that the Association of private banks in Iraq, reported in (the fourth of January 2013), the number of private banks in Iraq reached 32 banks in two decades, in addition to increasing the number of branches in Iraq to more than 500 branches and assets of these banks amounted to more than 12 trillion Iraqi dinars, as the volume of deposits in which eight trillion dinars, and arrived credit cash in which a total of three trillion and six billion dinars, while reached the capital of these banks and their reserves to three trillion and three billion Iraqi dinars, and that the total profits of these banks exceeded 477 billion dinars.
The study estimated that the local banks' capital amounted to government until the end of October of the previous year 2012, a total of 754 billion dinars, compared with more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded until 31.10.2012, an amount approximately six billion dinars (5.947), and the share of government banks, including 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
The bankers and economies, Iraqis carried in the (15 May 2013), the Ministry of Finance and the Central Bank of Iraq responsible for the decline and the reality of domestic private banks, while the latter accused of encouraging Arab and Iranian banks at the expense of Iraq.
The International Monetary Fund said in a report issued in (the 21 of March 2013), after the end of consultations in the Jordanian capital Amman, between a delegation from the Fund and an Iraqi delegation headed by the Minister of Planning Ali Shukri, and seen by (the long-Presse), that the improvement occurred in the financial sector , but he stressed that he still needs a "greater efforts by the central bank in the revision of monetary policy tools and strengthen banking supervision, and to accelerate the restructuring of the banking system."
The International Monetary Fund called the Iraqi Central Bank to take measures to gradually towards the liberalization of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year.
UNFPA emphasized that "the establishment of a banking system nationalist requires abandoning the current model, which is controlled in which weak banks owned by the state, which enjoys preferential treatment apart from private banks," calling on Iraq to do to strengthen its institutions, public finance to ensure efficiency and transparency in the use of oil revenues. "
[You must be registered and logged in to see this link.]
Editor: BK, NK 3.6.2013 19:02
NewsID=13023[You must be registered and logged in to see this image.]
Range Press / Baghdad
Revealed Foundation Singaporean money management, said Monday that the five private banks in Iraq has achieved total profit than the 207 percent during the past three two, while expected to continue that sector profitability and growth in capital over the next decade, despite the difficult business in Iraq, called Iraqi banks because "overcome some of the challenges" to continue its increasing growth. "
Foundation said Sansar Sansar Singaporean Capital Management, which is "the biggest investor" in Iraq, in its report, reported on (Global Finance) of the Economic News, today, and seen (long-Presse) on it, "The top five banks, non-governmental organizations in Iraq reaped through period from 2010 to 2012, doubled its profits to 207 percent thanks to strong economic growth of the country with the increase in the demand for bank credit, "pointing out that such" private banks, is north of Baghdad, the Middle East Iraqi investment, Kurdistan International Bank (Islamic bank) and Dar es Salaam Investment, which owns the British HSBC investment company 70 percent of its shares. "
She Sansar, in its report, that with "the growth of oil production, also increased the growth rate of the gross domestic product of Iraq GDP", indicating that "the IMF is expected to increase the growth rate of nine percent during the year 2013 the current, having been increased by 8.4 percent in past the year 2012. "
According to the Foundation in its report that in exchange for that growth, "the government banks seven in Iraq accounts for 91 percent of deposits," afterthought "but suffered disability because of bad loans granted by, as has been restructured largest banks government in the country and are Rafidain and Rasheed, with the assistance from the World Bank. "
The report quoted the Director General of the Foundation Sansar Singapore, Sanji موتواني, saying that "GDP growth for Iraq and the revenues of the banking sector are going parallel to the improved security situation," but he assured that "rates of violence in Chicago than rates Iraqi regard to crimes of murder everyday."
The report also said that despite the "survival of Iraq as a place difficult to do business, the banking sector future over the next decade to make profits and growth in the capital," noting that "based on the information the World Bank appropriations local in Iraq accounted for nine percent of all the growth rate of its output, compared to 55 percent in the other countries of the Middle East and North Africa, and more than 80 percent of Iraqis do not have bank accounts, and there are ATMs and one ATM for every 100 thousand Iraqis. "
It concluded Foundation Sansar Singapore, that "there is a negative relationship between the cumulative value of speculative rates and increase the value of traditional, such as those related to economic growth and returns as equal," and attributed this to "double the efficiency of the market, for reasons of lack companies to analyze the economic basis", however, had this " things are expected to go away. "
Stressed institution on the need to "overcome Iraqi banks some of the challenges to continue their growth increasing," and that these "challenges by deposits, which is spotty and uneven," explaining that "the government projects are prohibited from developing ايداعاتها in private banks," according to the website (Global Finance) always.
It is noteworthy that the Association of private banks in Iraq, reported in (the fourth of January 2013), the number of private banks in Iraq reached 32 banks in two decades, in addition to increasing the number of branches in Iraq to more than 500 branches and assets of these banks amounted to more than 12 trillion Iraqi dinars, as the volume of deposits in which eight trillion dinars, and arrived credit cash in which a total of three trillion and six billion dinars, while reached the capital of these banks and their reserves to three trillion and three billion Iraqi dinars, and that the total profits of these banks exceeded 477 billion dinars.
The study estimated that the local banks' capital amounted to government until the end of October of the previous year 2012, a total of 754 billion dinars, compared with more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded until 31.10.2012, an amount approximately six billion dinars (5.947), and the share of government banks, including 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
The bankers and economies, Iraqis carried in the (15 May 2013), the Ministry of Finance and the Central Bank of Iraq responsible for the decline and the reality of domestic private banks, while the latter accused of encouraging Arab and Iranian banks at the expense of Iraq.
The International Monetary Fund said in a report issued in (the 21 of March 2013), after the end of consultations in the Jordanian capital Amman, between a delegation from the Fund and an Iraqi delegation headed by the Minister of Planning Ali Shukri, and seen by (the long-Presse), that the improvement occurred in the financial sector , but he stressed that he still needs a "greater efforts by the central bank in the revision of monetary policy tools and strengthen banking supervision, and to accelerate the restructuring of the banking system."
The International Monetary Fund called the Iraqi Central Bank to take measures to gradually towards the liberalization of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year.
UNFPA emphasized that "the establishment of a banking system nationalist requires abandoning the current model, which is controlled in which weak banks owned by the state, which enjoys preferential treatment apart from private banks," calling on Iraq to do to strengthen its institutions, public finance to ensure efficiency and transparency in the use of oil revenues. "
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