CBI: integration of small banks with large will help build strong banking management
Date: Tuesday, 17-07-2012 01: 42 pm
Baghdad (News) … He appearance of Central Bank Adviser Mohammad Saleh, the idea of integration of small, vulnerable banks a good idea and help build a banking entity with strong banking management.
He said Saleh (News Agency news) on Tuesday that the Banking Act No. (94) of the year (2004) does not force weak banks to integrate but offers tips to convince vulnerable banks merging with private banks in particular that large State banks with government support.
He added: the creation of banking mergers between weak banks would force banks, but this case is the exception rather than the General and specific requirements and data, stating: in exceptional cases vulnerable banks merge to ensure continued its banking without loss.
And the Central Bank adviser: the merger of banks is very important in gathering force a literal Foundation supports high governance management serves the financial stability is a competitive market system and provide more services to citizens.
He said: the merger of banks would increase capital to a joint administration and gives balance between owners in addition to reducing banking problems afflicting all private banks