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Economists call for Iraqis to revive the banking reality
06/04/2010 10:43 06/04/2010 10:43
Baghdad, April 6 (Akaniwz) - The number of Iraqi economists, Tuesday, to revive the banking reality in the country, and activate the work of private banks and trade in line with the requirements of investment in the country.
The economist said Sami Aldluki told Kurdistan News (Akaniwz) that "the economic reality in Iraq is witnessing a vigorous movement toward reform, but he needs to study and clear and focused to work on the development of banking."
He added that "Iraq lacks a culture of awareness of the bank, which regulates the circulation of funds between markets and the consumer and the state is smooth and without the complexity of Mali".
Aldluki criticized the "step and the Ministry of Finance and the central bank integration of financial markets among them," he said, adding that "the matter needs to need to find dozens of private banks or government by the banking system in force in all countries in the world."
For his part, stressed the economic expert, Abdul Razzaq al-Bayati, "the importance of the development of the banking system through the establishment of twinning with some banks and the economic system known to the firm."
He noted in an interview (Akaniwz) that "the Ministry of Finance living chaos of the administrative bureaucracy is associated with technical development of the international banks in particular regarding the circulation of money between them and the citizens," calling "to facilitate administrative procedures at banks and increasing their numbers in proportion with the size of projects investment in the country. "
The Ministry of Finance had given at the end of last month's license for more than six community banks out of ten under study banking.
For his part, said Salman, an economist for the insured (Akaniwz), "Iraq late economically because of the economy, political and security conditions, which made the government and private banks is undergoing a real and clear, without any treatment by the Ministry of Finance."
He insured that "the Ministry of Finance openness to the world, and to cancel the backlog of legislation developed by the former regime, which still work which prevail."
The Association of Iraqi banks, had urged last Saturday, and private banks to merge to form a high capital to strengthen their capacity to work.
For his part, Finance Minister Baqir Jibrazubaydi (l Akaniwz) that "the banking system in Iraq is in a sophisticated and clear and prominent, they were all owned and private banks were threatened with closure four years ago, and was relying solely on private banks."
Al-Zubaidi and that "the efforts of workers in the ministry prevented rhythm in such idea."
He said the Minister of Finance that "the number of banks was part of a plan of the ministry in the closure, but we rejected that idea and began to give effect thereto, such as the Agricultural Bank and industry that we were able in 2009 to give thousands of financial loans, which is likely to double this financial loans during 2010."
The central bank decided last March, raise the volume of capital of banks to 250 billion Iraqi dinars gradually over the next three years, which caused lower rates of prices of banks in the Iraqi Stock Exchange due to lack of liquidity, especially since most of the banks with a capital of 50 billion dinars .
(آكانيوز)ج م 6/4/2010 (Akaniwz c) m 6/4/2010
Economists call for Iraqis to revive the banking reality
06/04/2010 10:43 06/04/2010 10:43
Baghdad, April 6 (Akaniwz) - The number of Iraqi economists, Tuesday, to revive the banking reality in the country, and activate the work of private banks and trade in line with the requirements of investment in the country.
The economist said Sami Aldluki told Kurdistan News (Akaniwz) that "the economic reality in Iraq is witnessing a vigorous movement toward reform, but he needs to study and clear and focused to work on the development of banking."
He added that "Iraq lacks a culture of awareness of the bank, which regulates the circulation of funds between markets and the consumer and the state is smooth and without the complexity of Mali".
Aldluki criticized the "step and the Ministry of Finance and the central bank integration of financial markets among them," he said, adding that "the matter needs to need to find dozens of private banks or government by the banking system in force in all countries in the world."
For his part, stressed the economic expert, Abdul Razzaq al-Bayati, "the importance of the development of the banking system through the establishment of twinning with some banks and the economic system known to the firm."
He noted in an interview (Akaniwz) that "the Ministry of Finance living chaos of the administrative bureaucracy is associated with technical development of the international banks in particular regarding the circulation of money between them and the citizens," calling "to facilitate administrative procedures at banks and increasing their numbers in proportion with the size of projects investment in the country. "
The Ministry of Finance had given at the end of last month's license for more than six community banks out of ten under study banking.
For his part, said Salman, an economist for the insured (Akaniwz), "Iraq late economically because of the economy, political and security conditions, which made the government and private banks is undergoing a real and clear, without any treatment by the Ministry of Finance."
He insured that "the Ministry of Finance openness to the world, and to cancel the backlog of legislation developed by the former regime, which still work which prevail."
The Association of Iraqi banks, had urged last Saturday, and private banks to merge to form a high capital to strengthen their capacity to work.
For his part, Finance Minister Baqir Jibrazubaydi (l Akaniwz) that "the banking system in Iraq is in a sophisticated and clear and prominent, they were all owned and private banks were threatened with closure four years ago, and was relying solely on private banks."
Al-Zubaidi and that "the efforts of workers in the ministry prevented rhythm in such idea."
He said the Minister of Finance that "the number of banks was part of a plan of the ministry in the closure, but we rejected that idea and began to give effect thereto, such as the Agricultural Bank and industry that we were able in 2009 to give thousands of financial loans, which is likely to double this financial loans during 2010."
The central bank decided last March, raise the volume of capital of banks to 250 billion Iraqi dinars gradually over the next three years, which caused lower rates of prices of banks in the Iraqi Stock Exchange due to lack of liquidity, especially since most of the banks with a capital of 50 billion dinars .
(آكانيوز)ج م 6/4/2010 (Akaniwz c) m 6/4/2010