Banking policy and community banks

[Admin]

3/9/2015 0:00

BAGHDAD - morning


Facing the banking policy in Iraq a lot of organizational and procedural problems, and this is what makes compatibility with national development programs less harmonious and effective, and more exciting to clamor about a lot of appearances and suspicions of financial corruption, as well as its role in the emergence of the environment unfit to activate Almsrvi..hzh sector confusing policies , intersect with the independence of the banking system outside the political authorities, and with finding real opportunities for economic development promotes the government banking and private sector ..

Perhaps the relationship between big government banks Kalravedan and rational, commercial and agricultural and between most of the private banks which number up to 54 banks will continue to be governed by a kind of Allathagh !! Particularly in the area of ​​deposit and interest, including the deposit of government funds in these banks to secure the sustainability of cash flow, as well as the relationship of this matter the nature of banking policies, and the independence of the banks, and the nature of Matmay to promote a spirit of competition, participation and attract clients.

Find processors and regulatory action in this area should be part of the government's policy in the next phase, to ease the burden on the government banks first, and the support of private banks pagan, and toward participation in the investment, development and service and support for the private sector areas, and according to the international laws that banks control system , which means to initiate the official authorities to take practical steps in this aspect, as opposed to the quest for the development of government and private banks, which are still a lot of rings work programs subject to the module and the bureaucracy, and probably where a lot of the gaps that were the cause of the hard currency smuggling out of Iraq, or support and build projects fake, a Maittalb the presence of immunity to the work of these banks, in exchange for legalizing their work and within the contexts in force ..

The government deposits eligibility banks put requires suitable and the availability of immunity its environment in order to preserve public money, as economic adviser to Mr. Prime Minister said, a Maaeks official sensitivity to the reality of the work of these banks, and lack of clarity in the legal references and guarantees which they operate these banks, and despite this fact many banking experts talking about the need to create a new reality for the work of private banks, the expert said Majid picture: is assumed that there is a close contact between the government and private banks is not that there are intersections between them, and the government that private banks are treated like engaged with public banks.

Reform of the banking system can be a springboard realistic to confront many of the problems that suffer from problems of private banks, because the deposit guarantees of public money and the money of citizens and secure their liquidity needs to be an official cover and legal protection, and to the information base banking services fit the mechanisms by which it operates banks in the world, I do not find that the tightening of strict control over the work of banks will be the most effective procedure, but that the determination of the global banking system conditions, is the guarantor and the guarantor framework for its work, even private banks owners who exposed their banks go bankrupt to the legal follow-up in Iraq and outside of Iraq is subject, as well as the development of legal and professional conditions for the establishment of banks and guarantees the central bank Alaraca..aaadh considering the banking sector and in accordance with the professional and controls on grounds and procedures will reduce the inevitably from the sidelines Allathagh, as it will contribute to the open investment channels in the banking industry, and gain international banks confidence, and even suspicions of some that some private banks were party to the hard currency smuggling, or even money laundering, but the professional procedures and controls would limit such a practice, and do put banks that carry out such activities in the blacklist and prevented from carrying out any future activity will be conducting a deterrent and strong in the face of the fragility of the banking sector.

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