Iraqi banks and current challenges 1 2

9/23/2015 0:00

 Abdul-Hussein Mundhiri

It faced Iraqi banks for more than three decades, and so far, security problems and economic, political, many reflected on the growth and development Jaetha by regional and international factors and some of them internal.

These problems are now increased because of the occupation clique Daash to large areas of our country where captured through which a number of branches of government and private banks, and the smuggling of foreign currency out of the country.

These complex problems can not be solved easily by removing the reasons for it so that the banking system's return to practice its work and its role Lease and investment naturally, similar to banks of other countries, for the banking system that siren all his energies and unites orientations in order to face the crisis more effectively and come out quickly and with the least possible losses.

The first thing you're doing is to go to attract idle savings among the public and implicated in loans and projects profitable achieved good returns meet a Rigg its depositors and borrowers alike.

 We would also like to note that most of the national capital had left Iraq in search of investment opportunities safer even though less profitable.

Lower oil prices

Iraqi banks unchanged if the banks of Petroleum Exporting Countries is now facing a shortage of liquidity.

Public deposits have to decline as well as deposits of ministries and government departments have begun, what form this juncture the cause of the contraction in lending by banks and this contraction turn caused lower annual profit as well as the cause of problems some companies stopped and individuals to repay loans discharged as a result of exchange stopped on some of the projects Astkarz Contractors Investors and funds for the implementation of this problem and the banks were not bracing account did not have managers of risk management in banks, what requires to take effective precautionary measures to deal with its effects.

 In light of the difficult financial conditions it became necessary to head banks to post some of them to finance major strategic projects concerning the return of damaged infrastructure reconstruction since the two Gulf Wars I and II and the areas that have been freed from Daash gangs because this campaign requires the provision of funds is a few to bring life in the structures destroyed.

 Either that are sums of banks to collect and pumped in the form of pooled loans or - which is better - to collect these amounts and establishes the Development Bank with the participation of the government in order to be capitalized large, which encourages the World Bank, the Asian investment to participate in it with money and expertise needed by Iraq at the present time.

 Note that Germany resorted to this option and founded the German Development Bank immediately after World War II, where the bank took on the responsibility for the reconstruction of the war-mentioned structures destroyed to provide the funding it needs its economy and infrastructure.

 This bank is still working to this day and offers a constantly expertise and experience of the countries that suffer the same conditions experienced by Germany.

 Here, we must unite visions and efforts of the leadership of the monetary and fiscal policy for the success of the mission because the efforts of any party alone does not help him to succeed.


 Small and Medium Enterprises

Panacea for economic doldrums is by supporting and financing small and medium entrepreneurs, because these projects contribute to the provision of essential goods and services and provide the State of import hard currency government suffers from scarce now as though these projects, according to international statistics accommodate more than 70% of the workforce in the state and this means is handled the cases of unemployment, poverty and social This is the message of the banks in all the world.

 It must be noted that the banks are not alone is financing these projects, but initiated more than government or social financing institutions, which requires the organization of these lending operations in order to be under a unified, coordinated and guaranteed management success Otherwise, the confusion will be obtained and hinders the success inevitably.

http://www.alsabaah.iq/ArticleShow.aspx?ID=100950