Experts eyes .. Iraqi government deposits between government and private banks


Baghdad-Iraq-Presse -17 August / August: Economists say that the funds deposited by the Ministry of Finance in the government banks pose a threat to the financial policy of the state, which gives those banks already very large sums of money under the government decisions and are unable to recover after that, what makes those banks back door of the loss of savings Iraq, especially since that money was supposed to be invested in development projects of interest to the country. The economist said, Mamdouh al-Amiri, said that "there are intersections between private and government banks; this is borne by the government, which should be public and private banks are treated alike." , saying the "new Arab" that most of the huge loans implemented by public banks are under government guidance, and not by the banks themselves. and between Ameri that "there are problems in how to control those banks, and there must be tightly controlled and directly by the central bank on those amounts, especially that most of the government and private banks are not currently eligible to receive the funds because they are not ready for that, they need a banking system reform, and restructuring commensurate with the needs of economic and necessities in the country, despite the presence of a number of private banks eligible to receive substantial financial deposits " . He said the appearance of Mohammed, adviser to Prime Minister Haider al-Abadi, in a press statement, that "in light of the lack of adequate protection for private banks, they may be exposed to the crisis of liquidity if the government put financial deposits in, and you need those deposits to ensure that priority." He said Mohammed "resort government agencies to put their deposits in private banks to reduce red tape, while enjoying financial deposits in government banks especially immunity, being backed government and this is a problem, "explaining that" the deposit government funds in private banks must be gradually with sufficient immunity, being money General must be in the right place. " He said bankers that "private banks in Iraq does not have sufficient liquidity, they are in need of government deposits under the supervision of the Central Bank of Iraq." He pointed banking expert, Abdul Wadud Mullah, that there is a great need for financial liquidity in private banks, The government deposits to "activate the local economy through these banks, especially as many companies and factories parked and the need for funding for rehabilitation." He said Mullah, that "private banks have the guarantees qualifies them to accept deposits from the government; it has a legal asset in the Central Bank Iraq, in addition to the fixed and known assets. " felt, that "the private banks able to receive government deposits and re-injected under the direct supervision of the Central Bank of Iraq," pointing out that "there is exaggeration on concerns arising from the development of government deposits in private banks, legal Valrshehad assets Fixed and property for private banks qualify to receive government deposits and guaranteed. " works in Iraq 77 banks, including 23 commercial banks and private seven state-owned banks and an Islamic bank and one newly established, as well as 15 branches of foreign banks and 34 financial converter and 200 foreign exchange company company dealing with banks or affiliates , and company loans and other financing to small businesses, and corporate services for electronic banking and smart cards and 800 branch banks spread to all provinces Alarac.anthy