Iraqi banking sector needs re-evaluation and classification
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Thread: Iraqi banking sector needs re-evaluation and classification

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    Iraqi banking sector needs re-evaluation and classification

    Iraqi banking sector needs re-evaluation and classification
    Sunday 09 October 2016
    | 14:34
    Iraqi banking sector needs re-evaluation and classification
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    proposed banking expert Iraqi Samir Nasiri, that « the Iraqi Central Bank prepare a study of the reality of government and private banks up to the re - evaluation and classification, assigning a specialized team in financial analysis to determine the administrative efficiency of performance standards and credit, with the participation of Iraqi banks, advisers and experts , the Association of Bankers». Featuring the Iraqi banking sector seven state banks are «Iraq» and «rational» and «Iraqi trade» and «industrial, agricultural and real estate, and« Islamic rivers », and 35 private banks , including Islamic banks , specialized and branches of foreign and Arab banks.
    He Alnasiri in an interview to «life», the «importance of the application of the Central Bank decision on controls the nomination of board members and staff leaders in the banks, and confirm the separation between the owners and executive departments, and not allow them to interfere in the executive work».
    He explained that the economic crisis «pant features since the mid 2014 and continued repercussions so far behind them well - known economists and the public reasons ». And identified as «financial mismanagement in state institutions, and dispose of non - studied oil resources achieved in previous years, as well as a decline in oil prices by 65 percent from what it was, added to all that the costs of the war on terrorism and requirements».
    The Alnasiri the existence of steps to address policy wrong in the economy, is the importance of «develop a methodology or a clear strategy for the economy, and not to rely entirely on oil resources, and the development of plans and programs targeted to diversify its resources, and to encourage other sectors such as agriculture, industry and tourism». He stressed the need «application strategies prepared by committees advisers in the Council of Ministers in cooperation with the United Nations , international organizations, and the remaining 16 have not been implemented yet, and did not support the days of financial abundance, from oil revenues». It focused on the «trend towards infrastructure sponsoring and supporting the economy and institution - building, and to adopt proper mechanisms in the implementation of monetary policy and the creation of an alternative to the auction of the currency because it faced criticism».
    And the cash trading market, pointed out that « the problems suffered by the instability of the dinar exchange rate, and the flight of the proportion of foreign currency abroad to the goals of non - economic and download the central bank responsibility that must be common to government institutions, as well as speculators and currency traders, formed factors «led to the low rate of savings cluster of cash in banks to 23 percent, compared with the compactness of $ 77 per percent outside the banking sector ».
    he said that it« indicates a lack of confidence among customers and a number of banks due to low liquidity in some of them to a minimum, bringing the banks to not being able to fulfill its obligations to customers at their request cold and deposits. »
    the businessmen and money attributed the poor the banking sector management to «men control the money and the exploitation of banks for funds deposited managers». They carried the responsibility of the central government « the deterioration of the economic situation of the lack of planning and organization». The head of the Iraqi Businessmen Union is willing Blibl, that «mismanagement in the banking sector because the money men under control, is the one who contributed to the exploitation of the funds deposited by some bank managers for their own investment and in violation of the law form».
    And saw the Iraqi Businessmen Union member Abdul Hassan Ziadi, that «this problem borne by the central government for the delay in payments to people, in addition to the lack of organization of the economic process that led to the collapse of the process».
    She drew international project center in Iraq actress Mona earthquake , in a statement, that «banking service is real to these banks were one of the causes of the problem, as are given to friends and acquaintances managers without study ».
    the CBI has given the government banks until last September, to adapt systems and electronic transactions».
    he stated that « the proportion of beneficiaries and users of these transactions do not exceed 10 percent». He suggested the possibility of «contribution orientations to expand the use and benefit from 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems.»

  2. #2
    Join Date
    Oct 2014
    The GREAT State of TEXAS

    Re: Iraqi banking sector needs re-evaluation and classification

    Thanks ol lar

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