Financial inclusion pushes toward savings and address poor liquidity in banks
2015/12/20 (00:20 pm) - hits: 211 - number (3528)Baghdad/range
Observers and followers of the banking sector is currently revitalizing economic sectors either productivity or service cannot take the required extent only through activating the role of banks and liquidity required to be capable of lending and funding programmes and promote investment opportunities for various individuals and groups of citizens.
It is therefore considered a modern community, Governor of the Central Bank of Iraq on relationship banking conference recently in third and subsequent directives during a meeting Thursday with managers for banks regarding credit Bureau and the possibility of connecting the optical cable banks as service is available from the information and credit scoring system and data regarding credit, these conservative guidance as a call to action to develop a culture of saving and educating citizens in the direction that enhance their contributions to expand the resources of the State and entrenching the practice consistent with The requirements of economic and development policies in the country.
As to the relationship during the Conference on hoarding 77 percent of Iraqi currency in circulation in the market in residential buildings is indicative of the size of the problem experienced by the Iraqi banks now due to the unavailability of the required level of willingness among citizens of the importance of the idea of saving and useful contribution in liquidity needed by economic sector, the financial arm of the banks. This is why the Central Bank plans to attract these funds depending on good banking services to provide customers in particular and the Governor has placed directors Commissioners for banks in the credit data picture and credit limits permitted or authorized currency type, due date, and types of guarantees provided and all here credit data.
Academic and banking expert Dr. Sadiq al-shammari recalled during an expanded meeting of activists on the banking sector to the importance of the words of the Governor of the Central Bank in the third banking conference held recently, pointing to tell everyone that the banks play a key role and vital and crucial in all communities for being able to mobilize savings public any ability to entice and attract the public's deposits and to diversify these deposits, whether ongoing or provide or fixed,"If banks have the potential to attract and recruit citizens ' savings could be To say that there is public confidence or awareness of high transaction it could mobilize and attract these surpluses. Conversely you can employ these funds or deposits in areas of service for different economic sectors, whether agricultural or industrial sectors or services they certainly will benefit the development of any society that could save money and banking services to meet the requirements of economic and social development in addition to its role in providing liquidity to individuals, institutions and business activities while continuously rarely find banks does not deal with money and assets, bonds, it can be said that nature dictated Bank function aggregate deposits and invest them and give credit and provide related services Direct and indirect. "
And finds that more wealth items shamari liquidity is money as a medium of Exchange and a store of value and utility to meet any high capacity switching to all kinds of goods and services for consumption in the community and therefore the Bank if the high leverage is a success for the policy of the Bank and the Bank Manager that the interests of these customers to provide liquidity when smokers when they wish to oblige central banks banks must keep a certain percentage of total deposits as a percentage of legal reserve along with significant precautions that keep In the event of a shortfall.
Therefore, the banks always cultivated public confidence by maintaining their money first and provide excellent services of high quality with attractive returns so you can preserve the value of the funds in accordance with the rule that says "best day of dinar IQD tomorrow" any time limitations that may eat their value if there are no superior returns, so you can attract more deposits banks must provide services such as service nearby or a parking lot or a certain awards when depositing customer according to roof And draws for prizes and to identify certain terms as well as the granting of benefits implied. You should also examine the internal and external environment, note that the State banks accounted for the deposits with government departments denied the private banks.
Shammari stressed the need to create awareness in all Bank to deposit their money in banks and encourage and motivate the public to expedite dealing with banks, he also called for providing the requirements of banks to provide low-cost loans to specific segments, especially staff as well as requiring government departments to deposit a percentage of their funds in private banks while ensuring that banks have branches or offices or small car to transfer the deposits of the public as well as focus on operational and leverage of banks. He added that the Central Bank accordingly important to stimulate or encourage the banks have deposits outweigh their capital as the company deposit guarantee is an important step along with the availability of efficient banking departments and able to cope with the difficult conditions in which the country's economy and financial sectors.
Al-shammari, who headed the Assembly of Islamic banking, Islamic banking is considered to pose the need required by the need to satisfy and Sharia products taking into consideration the needs of communities that tend to this type of banking, which increased attention to financial inclusion as new staffers to Governments and other relevant actors. He said that Islamic banking paid about giving support to financial inclusion by allowing individuals and small and medium enterprises, in line with the principle of integration of social responsibility and sustainable development principles in funding policies which requires enhanced opportunities for financial liquidity in banking sectors related to financial inclusion and improve credit policies, credit and finance and widely so that financial inclusion is driving towards the empowerment of individuals to work and transform the productive potential as well as encouraging savings and financial independence and reduce poverty and create an enabling environment for all Members of society to finance and financial services.