Economists: the restructuring of State-owned banks did not work
20/10/2011 20:01

Baghdad, October 20 / October (Rn) - Iraqi economists said Thursday that the re-structuring of government banks were not the required level.

The economist said Majed Radhi told the Kurdish news agency (Rn) that "the Iraqi government did not provide any obvious relevance to the restructuring of State-owned banks and development in terms of banking, credit, and cash."

"The problem of the reluctance of the work of government banks, one of the main problems facing Iraq in expanding the base of the investment and economic projects and opening up the economies of the world."

"The restructuring of the banks require cloning experiments and advanced countries of the world not to consider the bank transactions of banks of the regional countries."

In turn, economic analyst, Abbas Ghalibi (Rn) that "a study of the reality of government banks, regulatory and administrative financial and credit came close before the end of the government team and the support of the World Bank."

He added that "this structure is very necessary that I still did not live up to the level of banking performance in Iraq and the failure to raise the broad side of technical and administrative, financial and credit."

He explained that "the development of banks and the expansion of government activities Atguenih support the investment requirements of a task to find financial stability and high-level economic transactions in the government's financial and economic institutions operating in Iraq."

For his part, Vice Governor of Central Bank of Iraq for the appearance of Mohammed Saleh (Rn) that "the bank Rafidain and Rasheed are working according to a competitive basis and the granting of loans, the benefits of a moderate."

He explained that "there is the desire of government to develop the banking market and credit of the government banks, amounting to seven banks, an issue that need to be institutionalized at the time the progress of banks and government banks transformed from totalitarian economy to a market economy."

The World Bank announced in August / July this year he completed 80% of the proportion of the restructuring of the financial aspects of the Rafidain bank and good on the payments system.

The Iraqi government is still limited in its financial transactions on the government banks relied upon by 85%.