Date: Tuesday, June 09
Page name: economic
Central Bank: the private banking sector is prepared to work in the investment sectors
BAGHDAD - Hussein star
Private banks have suffered in Iraq many of the problems, the former because of the security situation and lack of movement of the Iraqi market, but after the start of security operations have contributed to rein in violence and led to the relatively stable security revived economic activity in Iraq and among the working sectors and the arteries of the economy driving the Iraqi banking sector at the forefront of the sectors working in it.
Iraqi Central Bank Governor Dr.. Shabibi said: "The private banking sector is now in the best case, which is ready to work in the sectors of investment and promising.
Alshabibi opened his speech at a meeting of the Association of extensive dialogue with Iraqi banks attended a high-ranking delegation from the Central Bank of Iraq and Iraqi banks for now, talk about the dilemma of many of those responsible for monetary policy, it was more contraction and call now to reserve cash to deal with Iraq and employed to bridge the deficit of some sectors of the budget because of lower world oil prices, according to some allegations that they were trying to save foreign exchange, and we started to hear about the auction held by the exchange as the central bank aims to prevent the smuggling of foreign currency
Alshabibi steam irresponsible remarks and tried to address all those present that day, which happened before the rise of the dollar exchange rates against the value of the Iraqi dinar, and said that the issue of the reserve is very sensitive and as a financial security in Iraq. There is a form of appreciation and the degree of sensitivity associated with the rapid movement and its relation to changes in the local market.
Alshabibi tried to explain to the bankers that the Iraqis have a drug problem for the Iraqi private banks, especially foreign controversy is sterile and needs to build, through dialogue between the Central Bank of Iraq and the Iraqi private banks to resolve the problem affecting the cognitive subject and the particular vulnerability of private banks in Iraq, a clear recently.
He noted that economic activity is increasing and must require the bank to increase the capacity of Iraqi governmental and private, and calling on the private financial sector to exercise a greater role to the progress of the Iraqi economy.
Governor of the Central Bank of Iraq said it was time for the entry of private banks in the financing of government projects and also an increase in appropriations in the resolution of the Council of Ministers to increase the size of the appropriation of 2 million to $ 5 million, and this would give a competition between the private and government banks, Iraqi Trade Bank.
Then the President of the Association of Fouad al-Iraqi banks, saying: that the banking sector at the center of the Iraqi male privileged, and can now in case of opening the area to help move the Iraqi economy for the better.
Hasani said the private banking sector faces some of the problems preceded the problem and the contribution of foreign ownership in the capital of Iraqi banks, becoming one of the special points articulated in the banks and attract foreign investors.
He urged the Iraqi government and their fiscal and monetary policy to reconsider the size of credit opened by the Iraqi ministries to the private banks and the recent Alzeraib imposed on the deposits of which promised to deposit secondary can not be taken by the tax have made some banks face embarrassment in their dealings with investors.
Hassani concluded his call to reconsider the building of the Commercial Bank of Iraq and restructuring by working to make it a mixed bank and the participation of private banks in more than one billion dollars to raise the financial position to more than one and a half billion, and thus facilitate the work of private banks to open letters of credit, he The Commercial Bank of Iraq is now competing with private banks to use banking tools, and we wish to back down on this important step.
The financial expert said the Central Bank of Iraq, Walid Abdel Nabi Vaeedi expounded on the imminent establishment of a financial guarantee for deposits up to the ceiling of 150 million dollars, or even the Iraqi dinar, and he called Iran, Islamic banks have to work on the effectiveness of legislation and it is governed by the law in terms of performance, Almracip.
Central Bank of Iraq adviser d. The appearance of Mohammed Salih said that the problem of Iraqi banks regarding the opening of bank credit to the Iraqi ministries are a real problem, but I'm not an advocate on behalf of the Ministry of Finance, but I do want to explain a technical issue, this problem is caused by failure of the payments system by the government and the Ministry of Finance and for years to develop and potentially end the end of this year and thus we expect that disappear over the next year, and this is what confused the performance of the ministry through a shortfall in the accounts of some government services and a surplus in some other sectors to make them pass a resolution calling for the reduction of ministries to deal with private banks due to speculation, confusion and estimates of financial assets.
The appearance of the second problem faced by the private banking sector is the real property in addition to the problem of Alzeraib the Treasury deposits and cash reserves, which are secondary and should be reconsidered in the size of the tax.
Representative of the country, the Islamic Bank of d. Abdul-Hussein said the author: I call for the Bank to take the role of a mixed Iraqi Trade Bank is working to involve the private banking sector in the international line of credit to the banking system, and founders of Advanced unable to work to keep pace with the investment, the Iraqi society and fill the need of the goods and services whose slowness in the opening credits of the banking ministries responsible for these files strategic task.
And between the country that the Bank has begun to develop and the medium-funded investment projects and we are now seeking to expand opening-up and work with the tourism sector and the agricultural and industrial.
Chairman of the Board of the Bank of the economy Hossam Nahed Ebeid said: "The idea of a mixed banks forgave God, and I hope that Anaud, we now live in a free economy, which started in the banking sector, we have the building blocks in the first foundations.
He called for a solution to the problem of acquisition of property for the opening of bank branches, both of Iraqi or foreign through the State Consultative Council, which is based on interpretations of the Registrar of Companies will also have to interfere with the Central Bank of Iraq to resolve this problem, even if the legal interpretation of the problem.
He urged the Commission to give real opportunities for the private banking sector and of putting into effect the decisions of the support of the private sector.
One Islamic bankers said: "The problem in Islamic banking, we have the money and we would like a large investment ratios, but so far Atalpi ambitious, and that Europe had gone through this problem of lack of legislation and legal legislation but legal for the banks is working, and we need to non-discrimination riba-based banks, private and Islamic banks in Iraq.
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Page name: economic
Central Bank: the private banking sector is prepared to work in the investment sectors
BAGHDAD - Hussein star
Private banks have suffered in Iraq many of the problems, the former because of the security situation and lack of movement of the Iraqi market, but after the start of security operations have contributed to rein in violence and led to the relatively stable security revived economic activity in Iraq and among the working sectors and the arteries of the economy driving the Iraqi banking sector at the forefront of the sectors working in it.
Iraqi Central Bank Governor Dr.. Shabibi said: "The private banking sector is now in the best case, which is ready to work in the sectors of investment and promising.
Alshabibi opened his speech at a meeting of the Association of extensive dialogue with Iraqi banks attended a high-ranking delegation from the Central Bank of Iraq and Iraqi banks for now, talk about the dilemma of many of those responsible for monetary policy, it was more contraction and call now to reserve cash to deal with Iraq and employed to bridge the deficit of some sectors of the budget because of lower world oil prices, according to some allegations that they were trying to save foreign exchange, and we started to hear about the auction held by the exchange as the central bank aims to prevent the smuggling of foreign currency
Alshabibi steam irresponsible remarks and tried to address all those present that day, which happened before the rise of the dollar exchange rates against the value of the Iraqi dinar, and said that the issue of the reserve is very sensitive and as a financial security in Iraq. There is a form of appreciation and the degree of sensitivity associated with the rapid movement and its relation to changes in the local market.
Alshabibi tried to explain to the bankers that the Iraqis have a drug problem for the Iraqi private banks, especially foreign controversy is sterile and needs to build, through dialogue between the Central Bank of Iraq and the Iraqi private banks to resolve the problem affecting the cognitive subject and the particular vulnerability of private banks in Iraq, a clear recently.
He noted that economic activity is increasing and must require the bank to increase the capacity of Iraqi governmental and private, and calling on the private financial sector to exercise a greater role to the progress of the Iraqi economy.
Governor of the Central Bank of Iraq said it was time for the entry of private banks in the financing of government projects and also an increase in appropriations in the resolution of the Council of Ministers to increase the size of the appropriation of 2 million to $ 5 million, and this would give a competition between the private and government banks, Iraqi Trade Bank.
Then the President of the Association of Fouad al-Iraqi banks, saying: that the banking sector at the center of the Iraqi male privileged, and can now in case of opening the area to help move the Iraqi economy for the better.
Hasani said the private banking sector faces some of the problems preceded the problem and the contribution of foreign ownership in the capital of Iraqi banks, becoming one of the special points articulated in the banks and attract foreign investors.
He urged the Iraqi government and their fiscal and monetary policy to reconsider the size of credit opened by the Iraqi ministries to the private banks and the recent Alzeraib imposed on the deposits of which promised to deposit secondary can not be taken by the tax have made some banks face embarrassment in their dealings with investors.
Hassani concluded his call to reconsider the building of the Commercial Bank of Iraq and restructuring by working to make it a mixed bank and the participation of private banks in more than one billion dollars to raise the financial position to more than one and a half billion, and thus facilitate the work of private banks to open letters of credit, he The Commercial Bank of Iraq is now competing with private banks to use banking tools, and we wish to back down on this important step.
The financial expert said the Central Bank of Iraq, Walid Abdel Nabi Vaeedi expounded on the imminent establishment of a financial guarantee for deposits up to the ceiling of 150 million dollars, or even the Iraqi dinar, and he called Iran, Islamic banks have to work on the effectiveness of legislation and it is governed by the law in terms of performance, Almracip.
Central Bank of Iraq adviser d. The appearance of Mohammed Salih said that the problem of Iraqi banks regarding the opening of bank credit to the Iraqi ministries are a real problem, but I'm not an advocate on behalf of the Ministry of Finance, but I do want to explain a technical issue, this problem is caused by failure of the payments system by the government and the Ministry of Finance and for years to develop and potentially end the end of this year and thus we expect that disappear over the next year, and this is what confused the performance of the ministry through a shortfall in the accounts of some government services and a surplus in some other sectors to make them pass a resolution calling for the reduction of ministries to deal with private banks due to speculation, confusion and estimates of financial assets.
The appearance of the second problem faced by the private banking sector is the real property in addition to the problem of Alzeraib the Treasury deposits and cash reserves, which are secondary and should be reconsidered in the size of the tax.
Representative of the country, the Islamic Bank of d. Abdul-Hussein said the author: I call for the Bank to take the role of a mixed Iraqi Trade Bank is working to involve the private banking sector in the international line of credit to the banking system, and founders of Advanced unable to work to keep pace with the investment, the Iraqi society and fill the need of the goods and services whose slowness in the opening credits of the banking ministries responsible for these files strategic task.
And between the country that the Bank has begun to develop and the medium-funded investment projects and we are now seeking to expand opening-up and work with the tourism sector and the agricultural and industrial.
Chairman of the Board of the Bank of the economy Hossam Nahed Ebeid said: "The idea of a mixed banks forgave God, and I hope that Anaud, we now live in a free economy, which started in the banking sector, we have the building blocks in the first foundations.
He called for a solution to the problem of acquisition of property for the opening of bank branches, both of Iraqi or foreign through the State Consultative Council, which is based on interpretations of the Registrar of Companies will also have to interfere with the Central Bank of Iraq to resolve this problem, even if the legal interpretation of the problem.
He urged the Commission to give real opportunities for the private banking sector and of putting into effect the decisions of the support of the private sector.
One Islamic bankers said: "The problem in Islamic banking, we have the money and we would like a large investment ratios, but so far Atalpi ambitious, and that Europe had gone through this problem of lack of legislation and legal legislation but legal for the banks is working, and we need to non-discrimination riba-based banks, private and Islamic banks in Iraq.
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