Central Bank reveals that the transfers of private banks $ 40 billion
THURSDAY, 08 MARCH / MARCH 2012 13:28

Twilight News / the central bank, on Thursday, for that private banks are transfers of $ 40 billion per year have achieved large profits, indicating that the private banks Tnesb hostility to the central because they want to work without legal controls.

The deputy governor of the Central Bank of the appearance of Mohammed's "Twilight News" that "the private banks that the 45 Iraqi banks and some branches of foreign based transfers an annual $ 40 Mllardolar have achieved large profits, and are such transfers a third of what turns Iraq's foreign currency."

Saleh explained that "the former regime as a result the economic blockade and the disruption of the oil royalty revenues contributed to the presence of 12 banks to be civil strife and political leverage to perpetuate its existence."

And Saleh, said that "Iraq is moving slowly toward a market economy, and domestic banks a big role in turning the wheels of this economy," adding that "the private banks in Iraq does not contribute to this role, and Tnesb the Central Bank of hostility because they want to work without legal controls."

The head of the group banks, economy, investment and financing Husam Obeid pregnancy, on Wednesday, in a statement to "Twilight News" and the Ministry of Finance and the Central Bank responsible for not handling the state's departments with private banks, according to the decision of the first required by, said Husam Obeid said that "the issue away Ministries and government departments to deal with private banks private originated 4 years ago when the Ministry of Finance issued a decree banning dealing ministries and government departments with these banks. "

The member of the Finance Committee parliamentary Najiba Najib confirmed for "Twilight News", earlier, that "the two systems the banking and taxation in the country still need more support through the development of plans and mechanisms carried out by authorities of legislative and executive branches in the country," asserting that "The banking system and the current tax does not serve the Iraqi state and the economic realities."

Iraq seeks to support the banking system by closing the deficit of local banks by covering the financial guarantees required by the investment companies, which represent the problem of limiting the entry of companies specialized in the electricity sector, infrastructure and services.

In Iraq, there about seven state banks and 45 banks waged, mostly owned by foreign banks, two banks and two government control over an area larger than the banking system in Iraq are the Rafidain Bank and Rasheed Bank.