In order to revitalize the banking sector Hassoun proposes subjecting banks operating central control

01/06/2016 0:00 Baghdad Suha Shaykhli

He attributed the causes of banking expert curtail the role of banks in Iraq to lack attract deposits at a time when the deposit is to be a means of activity and effectiveness of credit did not work, where the heads of their money.

Deposits

He said banking expert Abdul Aziz Hassoun (president of the Association of private banks
Previously)

- The disparity in the volume of deposits in Iraq, attributes some of the security situation and political developments made the exchange rate uneven, and the imbalance suffered by the banks managing Hoadm spread, while in the countries of the world there are the means used by banks, including giving gifts to students to encourage them to save.

The role of banks and the solutions required to revitalize the banking sector, especially after the financial distress pointed Goldfinch out that despite the fact that the banking sector has developed his work using modern technology and foreign relations with banks around the world, yet the technology is expensive, but the intensive use be spending feasible, pointing out Iraq is the only country that pays wages and salaries in cash and suggested that there be a network of banks in which the employee can open an account and can convert his salary and thus encourage saving process which have benefits.

Hassoun and called for the need to rebuild bridges of trust between government authorities and banks first returned what has happened in the banks of the charges because of the behavior of some of the reason stagger their work and made the citizen alienate them, wondering why he did not deal with the private banks, despite the presence of the central bank supervision by a licensed and has the financial possibility and cash in excess of 50 percent.

This means that the money Off.

Privatization of banks

And the reasons for the weakness of the contribution of banks in the development, Hassoun said: that the Rafidain Bank, established in 1941 and Rasheed in 1988, deposits in an old government banks and trust by clear and guaranteed but with that deposits are still limited government, banks and deposits of 30 trillion Denaroacialh 20 trillion dinars, and there is a distinction in the application of laws on private banks, adding that the central bank imposes on private banks to raise their capital substantially and here they have to include also the government banks to increase their capital.

And called for a solution to the assignment of 27 banks problematic factor to the Integrity Commission and the Finance Court fined these banks after massive irregularities in money is not installed, but that is in charge of the merchant importer, and fines of up to 50 billion has been Installments.

He concluded his speech Hassoun Ptoukath 2016 that the banks will work smoothly after taking reasonable precautions and stabilize its position even if did not sleep, and wished to attract deposits and earn the public's trust, stressing that the banks are in a corner of the foundation's money-generating economic process.

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Luring compactness
   

1/6/2016 0:00

 Thamer Alheims
During the annual banking conference held by the Association of Iraqi banks recently revealed Governor of the Central Bank (that 77 percent of the Iraqi currency chunky in the homes, and this information indicates a significant failure in the level of banking awareness for various sectors, especially the banking sector.

There is no doubt that the progress of a picture is not encouraging reach the limit of frustration in the hope that we envisaged in the post (2003) in terms of economic openness and the growing banking and increase financial revenues for the period more than a decade after the (2003) The issue can not be reduced retardation as if things happen randomly, Valedjar despite its importance in any boom phase or decline reflects the stability and dynamic and us in the banking heritage or savings successful experiences, especially in the bank (mortgage) any mortgage gold Almkhclat as collateral for the advance will be beneficial to establish an alternative to the hoarding sterile, or a project to address the situation of a certain loss in activity economic, as well as our well known until the seventies of the last century institution mail and deposit boxes where simple interest that was offered, what prevents such traditions alive so savings?

Encouraging factors

There is no doubt it's multiple factors despite the presence of the corresponding encouraging factors such as the spread wings of private banks (conventional and Islamic) and especially the last supposed to be in harmony with the current environment of what happened in the political scene, but we do not find a convincing answer, especially from private banks.

To search for the causes of three-quarters of the money supply remain in their homes despite the security situation, which threatens compactness necessary to address the problem of banking awareness and methods to encourage saving, only the trader that banks do not invest their money, even in a limited way in the investment because of the laws or legal material package prevent this, The other reason is that the foundation of these banks often work in the currency market at least risk, and the manner with respect to the credit card as a fan, it is limited.

In order to tempt compactness to banks tanks must be done through the steps in order of priority in the light of the plans that the central bank is to be established by the State-owned banks are still banking operation axis whether Prusidha or confidence suggested by, the private banks and the degree of their appeal is not resolved by credit card but through non-traditional means Because of the current situation through partnerships or guarantees by government banks, then we must move towards investment in the establishment of industrial, agricultural or contribute to the purchase or development of Off-governmental projects, projects and this is what enhances the confidence of civil banks and make it wanting from their clients buy shares in Companies that invest in all transparency and clarity, and perhaps the most cost-effective investments for the mixed sector is still where its cadres and its mechanisms and its market is ready and lacks liquidity and customs protection.

The hope of the civil government and our banks helping to revive our industry that have been stalled for activating Edjaradtha Aktrmen other after adapt their laws and create Mlakatha and modernization of its organs to stimulate savings.

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