Bankers Association criticized the statements of some politicians about the economy and invite them to "support the local economy."

25/03/2015 12:15



Long-Presse / Baghdad

Criticized the Association of private banks in Iraq, on Wednesday, statements by some politicians on the private banks, promised to contribute to the "erosion of trust" between depositors and banks, while inviting them to be a "high degree of responsibility in supporting the local economy."

The association said in a statement received (long-Presse) a copy of it, that "there are some statements by some politicians do not fit with the current phase variables and the desire of everyone in the economic process support, as well as contributing to" shake the confidence of depositors and private banks, "which negatively affects in the money supply in the market turnover. "

The statement called for "Iraqi politicians to be a high degree of responsibility in supporting the local economy and not to panic, fear, and of no confidence in the national economy columns namely banks."

The statement pointed out that "the Iraqi Central Bank and private banks are national role in building a sophisticated Iraqi economy through their participation in national development through delivery of banking services to all sectors of the economy as well as its vital role as a partner of the state in the development of different economic strategies."

The Central Bank of Iraq, it was revealed on Thursday, for a number of lagging private banks in their work during the last term, and in attributing the cause of the delay to the non-payment of dues contractors and clients as a result of "lack of liquidity", vowed to dealers funds with lagging private banks through " legal reserve ".

The Iraq Stock Exchange has confirmed that the Iraqi Central Bank to impose their guardianship on some private banks, led to "shake the confidence" of the citizens, and low cash liquidity and price traded.

It is noteworthy that the central bank has put in (the fourth of June 2014), the economy Investment Bank, under the trusteeship, attributing this passion for the advancement of the bank and protect its customers. Ditto the Central Bank and the Warka Bank was placed under guardianship, 2012, to find work, before deciding filed in, (the sixth of February 2014).


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