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    Central seeks to develop the service to customers

    Central seeks to develop the service to customers

    Views 80 Date 20/08/2016 - 22:21

    Economy News / Follow-up ......

    The head of the banking and credit at the central bank Ahsan Yasiri: censorship now focused on the private banks for its contribution in the economic development process through the development to serve customers in accordance with the regulations and developments and international standards ».

    He Yasiri that the central face of the establishment of the Department on behalf of the banking awareness and protection of the public to receive complaints from customers also have an international rating and Takimat private for each bank, pointing to the existence of distressed banks in compliance with the requirements of the Central Bank on the subject of the fight against money laundering, pointing out that some departments of these banks had abused Investment funds customers.

    He noted that the central bank committed troubled banks to deposit funds in their accounts to display and which ones must be paid customers claims, pointing to take corrective measures to support these banks, indicating that in September of this year will have on the banks to deposit all amounts recommended by the sum of the amounts were 820 billion dinars and should be deposited in their accounts during this period and improve their performance and appoint officials to comply with the officials of the risks.

    Company deposits

    He attributed Yasiri set up a company to guarantee deposits to find work of some private banks in meeting the demands of some of its customers to withdraw some of their assets.

    Yassiri said that the source of the circulation of the dinar is up to 42 trillion Iraqi dinars in the banking system there are 15 percent of them and the remaining inventory in homes because people are not assured in the bid farewell to their money in the bank.

    He said at the founding of the company to guarantee deposits will invest large sums chunky in homes which drives significant risks including theft, fire, accidents or banknotes damage so it will be the company ensures the special public deposits and contribute to the banks themselves in this company, a joint stock company and part of the contribution of government banks in this The company is also a joint venture and is not important legal status, it is important to supervision by the central bank.

    Currency auction

    And currency auction Yasiri pointed to the conditions experienced in Iraq since 1980, so far, especially in the period of international sanctions, came out of the real activity of the economy of production (agricultural and industrial sectors) and Aatmdaly import hard currency and the only supplier of the dollar is the central bank, so we have to meet traders requests for dollars to import all their needs.

    Yasiri said: »We as a central bank aim to activate the Iraqi economy through a combination of sectoral agencies and ministries efforts and coordination with the central bank, such as supervising institutions on imports to limit imports unnecessary for the possibility of its output at home, however Vantrza bound to provide the dollar to traders of commodities and goods imported , and it is also bound to pay the securities of personal requests, and corrected Yasiri naming auction currency (foreign currency sale) window, where the auction has another concept, a process that allow the dollar to those required by the needs of legitimate and real, according to the law, it is far from the concept of profit and loss and the Central Bank in nature-profit organization. »

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    Last edited by MadDScout; 08-20-2016 at 08:01 PM.

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