Alnasiri: should be reconsidered assignments bad debts

12/22/2015 0:00

BAGHDAD - Hussein al-Tamimi Tgb
He stressed member of the Baghdad Economic Forum Samir Alnasiri the need for the adoption of fiscal and monetary policies will help reduce the effects of the shortfall in revenue for the country is the current treatments for stage And future.

Alnasiri between the importance of the stand at the Iraqi Central Bank's policies on control of monetary policy in the government banking and Ahli system support and reconsider the policies of lending and mechanisms for credit risk management, urging the diversity in the granting of credit and investment in productivity and investment sectors that achieve cash flow clear and calculated in accordance with the strictest standards in monetary policy adopted evaluation Currently.

And between in an interview for »Sabah« the importance of supporting the private banks by allowing them to carry out operations and banking tools all of the projects and activities undertaken by the ministries and departments affiliated and non-identified and equated with government banks effectively and practically and to allow domestic banks to open current accounts and fixed deposits of the ministries and public companies and mixed belonging to the state According to the financial efficiency of domestic banks and their ability to invest these deposits in the banking tools contribute to supporting the national economy.

Allocation of reserves

Alnasiri student to reconsider the allocation of bad debt reserves according to the list of guidance issued by the Central Bank of Iraq and give the elasticities and extended extra time for banks to be able to clear the debt, mostly dating back to earlier periods and most owners have migrated outside Iraq, noting that the current allowance reserve ratio for bad loans lead to reduction in profits realized actually hinder its activities and funding investment New.

He stressed the importance of accelerating the establishment of the company to guarantee deposits, including making the state contributes to the control and participation in risk management, in order to encourage small and medium enterprises with economic and development feasibility that produce goods and services competition, which reflected on the reduction of inflation and building the national economy in a new line with the financial situation, stressing the importance of start immediately activate and implement the CBI special allocation of 6 trillion dinars for banks and specialized civil initiative.

Support the stock market

He stressed Alnasiri on the study of the development and support and stimulate the Iraq Stock Exchange and to find the means and tools that push for lifting the market index prices and companies including tailored assets and standards of production and profits by at least certainly for the nominal value of stocks and prevent speculation that harm Iraq's asset-which does not fit the true and actual value.

He urged the restructuring and conversion of some public companies (production, real estate, industrial, agricultural, commercial, service (electricity, water, fuel and medicine)) and government banks to companies and banks mixed especially brought in by the private and the private activity of the banking sector both and competence balanced proportions with the state shares with the stipulation The state shares are not be higher than the private sector rates for the purpose of giving the private sector sufficient flexibility in the administration and to act and make decisions.

Alnasiri He pointed to the importance that the Central Bank of Iraq depends applications and new tools of monetary policy steady and planned and in a manner consistent with the reality of the Iraqi economy with the departure of auction currency sale and the Ministry of Finance to carry out its role mainly in the provision of local currency through the control of trade exchange Foreign.

He stressed the importance of reducing unemployment rates currently amounting to more than 31 percent through the expansion of state support for small and medium productive projects and give the role of the private sector and enable it to contribute to the economic construction and the reduction of high unemployment through the operation of graduates from various disciplines.

He concluded by inviting the CBI to re-evaluate all government and private banks based on the World Bank report and the observations and analysis of her previous years and work to restructure and re-classify and identify banks that continue operating and functioning in the banking sector or not.