Handal calls on the Iraqi banking sector to respond to the requirements of the current difficult phase Amrabha Iraqi economy

Views 87 Date 06/15/2016 - 14:59

Economy News: / quoting Al-Hayat newspaper ....

The head of the Iraqi private banks association, Wadih Handal, the Iraqi banking sector to respond to the requirements of the difficult phase Amrabha the Iraqi economy, especially the financial sectors, pointing out that the banking sector is now working to prepare a paper containing his remarks on the loan from the International Monetary Fund for Iraq Management.

Handal said in a statement to the newspaper / life / wide Alancharban exact situation that Tmrabh Iraqi banks of having to search for processors to enable them to dangerous Tjaosaltdaaaat that threaten its future.

He pointed out that the precipitant global correspondent banks wary of prosecutions faced by some private banks of the judicial bodies related to the instructions of foreign currency conversion charges, what Affect the international reputation of the entire banking sector of Iraq and make him lose a bit of prestige.

Handal noted that the banking sector Astbhrgera end of undergoing Chapter VII sanctions that were shackle the Iraqi economy stage, but the difficult conditions that followed that date did not help Iraq to get the opportunities that will activate Doralqtaa and compensation for Aldharralve hit its infrastructure.

Turning head of the Iraqi Association of private banks to the obstacles that Atusbandha banking sector Maitalq direct relationship with the banks, Arab and foreign correspondence and dealing with the implementation of the transactions.

Handal and saw that Iraqi banks suffer big problem because Ahtzazalthagh out of most of the Arab and international banks, which Affect the opportunities open branches abroad.

Noting there the importance of identifying preparations available to the Iraqi banking sector to implement its obligations as contained in the international loan of selectors, especially regarding the issue of restructuring the banks,

Pointing out that Iraq had previously presented a study on the matter to the World Bank since 2011, noting that the issue of restructuring the banking sector is of particular importance within the obligations of the international loan, which aims to move the Iraqi economy to a market economy, which means also re Consideration deposit policy State revenues in the flabby banks.

He announced that the Association of private banks is in collaboration with the Union of Arab Banks to organize an investment conference in Baghdad, investors and experts Arabs and foreigners involved in it, is dedicated to look for opportunities in front of Iraq on the level of participation of the banking sector, believing Almatmrfersh front stakeholders to discuss the government's programs in this area.

He explained that the current stage requires the granting of the private sector more opportunities to contribute to the development of development and investment programs in place, pointing out that the activation of investment activity and the expansion of chances Department require banking sector is able to enter into a subsidized laws and legislation investment partnerships that meet the advancement requirements.

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