Economists demanding a change banks departments "inefficient" in conjunction with the restructuring of the banking system

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Baghdad / Ibrahim Ibrahim

Called specialists in economic affairs, on Saturday, the government departments to change the financial and banking institutions, while underlining the need to restructure State-owned banks in accordance with the developments in the financial system that the world is witnessing developments and called for the introduction of modern technology in their daily transactions.
The Ministry of Finance, revealed the completion of 90% of the stages of structuring bank Rafidain and Rasheed, and confirmed the restructuring project to proceed through a global mechanism to support Iraq's financial situation.
The economist said Mustafa Mohamed Habib said in an interview for the "long" "The banking system in Iraq late greatly from the global and regional systems as a result of dropping out of communication with the world during the years of siege in the nineties of the last century."
He added that in the "last few years that followed in 2003, successive governments have not put solid plans to restructure the banking system in line with market shifts, which saw a large open to various global markets."
He explained that the beloved "accumulation of wrong economic policies and not to repair errors Tense in the body of the banking and financial process in the country has produced corrupt administratively and financially nestling in most of the joints of the most important economic institutions and banks, banks and government, which is the main pillar of the Iraqi economy."
He said the "situation prosthesis solutions from time to time to address some of the crisis does not develop the movement of money and moving smoothly during the commercial exchanges between the companies and individuals on the one hand and the government and the private sector on the other hand."
He stressed that the beloved "banking system, the government lacks the simplest tools that contribute to cancel most of the routine steps, which cost the state a lot of money, while we find that the regional countries took advantage of the technological development Kalveza card and MasterCard in addition to ATM and electronic trading.
The Director General of the Rasheed Bank Mohamed Abdel Wahab said on Saturday (February 20, 2016), in an interview to the (long-Presse), "The restructuring process of bank Rafidain and Rasheed began years ago in order to give the biggest banks support through credit mechanism globally."
Abdul Wahab added that "90% of the stages of the restructuring of the two banks has so far," stressing that "the process of a restructuring of the two banks to support the Iraqi financial situation."
In turn, the economic expert Uday Abdul Ameer Amer in an interview for the "long" that "Rafidain and Rasheed are considered one of the most active banks in Iraq said, and they have long experience in the management and operation of public and private money through mobile and fixed deposits."
"The banks require a developmental revolution restore the banking system splendor and glory, which declined in recent years due to non-active laws and regulations is studied, which insisted on the implementation departments inefficient financial institutions the state."
Amer said that "multiple government and private banks in the short period of time without the application of the regulations for the development of State-owned banks led to a decline in work and confined to the granting of some loans different addresses in loans to buy cars and housing loans with a large stock of non-financial investor."
He said the "restructuring need an efficient administration can develop banking business in line with the open market, which needs to speed and the ability of large financial work."
The governor of the Iraqi Central Bank on the Keywords have revealed, in the (November 2015), for a proposal to restructure the bank Rafidain and Rasheed to the large number of administrative and technical their problems, as he pointed to the possibility of putting some of their shares to the private sector.
The Rafidain Bank confirmed, in the (November 2014), demanding that parliament was restructuring with Rasheed Bank, does not mean separated from the Ministry of Finance, but come to improve and Aqahma and increase their efficiency and automation of their work along the lines of international banks, noting that cases of breach, which recently witnessed stimulated with the Central Bank of Iraq, to ​​reconsider the system of electronic clearing of controls "tougher" to control it almost completely.
The banking system in Iraq consists of 43 banks, as well as the central bank, and are distributed according to the property between the seven state-owned, and 30 waged, including seven Islamist, as well as six foreign banks.