Eligibility banks refuse to open saving accounts million accuse the central b «weakness» in control deposits

Baghdad, Mohammed Hadi

Refuses to community banks departments, open a savings for citizens accounts, advising them of the establishment of current accounts, which do not bear them any rates of interest to depositors who complain that many of them deposit and withdrawal procedures, what drives most of the money owners to keep their money in their homes, while the attribute Financial experts " hoarding "money supply among parents, to the absence of confidence that the banks, which is stalling the implementation of its obligations with depositors, appreciating the size of that money, which" froze "because of it invested with 15 percent, and the rest deposited in state banks.

Bankers accusing the central bank management to "weaknesses in control and deposits of private banks", adding it was "neglected scrutiny monthly indicators relating to those banks."

The Governor of the Central Bank on the Keywords revealed earlier, that 77% of the Iraqi currency traded in the market "chunky in the homes," noting that the bank "will put the plan to attract these funds to invest."

Keywords and added that "if the banks have done to provide services to customers in order to attract this money saved, it will contribute to move the Iraqi economy," noting that "the central bank has a plan in order to attract these funds for the purpose of investment and moving the wheel of the Iraqi economy."

Many complain of unbanked difficulty of deposit and withdrawal procedures, what drives a lot of people to keep their money in their homes.

In this context, attribute the economic expert on behalf of Jamil Anton in an interview with "the world," the reluctance of citizens to deposit their money in banks to "lack of trust between the banking system and the citizens."

Anton says, that lack of confidence is fueled by the lack of some private banks full commitment to implementing its obligations to depositors, and the landslides that took place in some private banks and declaring a state of bankruptcy and sought circle of mistrust between the two sides, according to Anton.

The banks Warka, Basra and the north and the economy, civil declared bankruptcy, which led to its collapse.

But Anton diminish the importance of the money supply deposited with the banks, saying that the rate of "do not exceed 15 percent, compared with government banks."

Anton and alert to the fact that banks have become refuse to open a savings account for employees, which forced him to give customers the bank interest rates ranging between 4 8 percent annually, while allowing open current accounts that do not require those benefits.

Here, private banks, according to Anton turned to "Khoznah institutions, to raise money money only," away from the goal of their participation in the development and advancement of the national economy.

And the current account, based on his idea of ​​deposit and withdraw cash frequently.

And movement to deal him high and fast, and the customer is given a checkbook for easy handling on the account and the withdrawal of other funds, based on the approval and the signature of the account holder, and usually these accounts are interest-free, and the "savings account" shall be deemed a bank account long-term and are bank interest on the money calculated deposited by, interest is computed beginning of the month following the deposit of money, which is of relatively higher interest expense.

The last method of calculation, up interest rates, according to Anton in government banks to 5 percent, while giving them the civil, the benefit of up to 10 percent.

For his part, head of the private banks association previously, banking expert Abdul Aziz Hassoun, in an interview for "world" that, mismanagement in those banks, which its owner weakness of the central bank supervision on them, is what increased the lack of confidence on the part of the citizen, accusing " Central management not to check the monthly indicators that link to it from those banks. "

And prove Goldfinch on his accusations, that "one of the private banks lost within two hours 600 billion of deposits for unknown reasons; it was the volume of deposits up to a trillion and 200 billion, then dropped to the 600," he said, adding that the incident had not stopped at the central bank.

He said Hassoun, said the private banks faced in the earlier problem, "the scarcity of liquidity", pointing out that the borrowers of contractors and traders did not get their dues from the government what made them slow to return the loans to these banks, along with the fact that some branches of the central bank not to return deposits to private banks, and thus it was born so many problems with banks.

And founded the Iraqi Central Bank, as an independent body under the law issued on the sixth of March of 2004. He is responsible for maintaining price stability and the implementation of monetary policy of the country, including exchange rate policies.

The Bank conducts daily sessions for the sale and purchase of foreign currencies.

According to a document on indicators of the banking system in Iraq got "the world" a copy of which, the total assets of banks in Iraq amounted to 212 trillion dinars.

The size of the public deposits in banks reached (24.3) trillion in 2013, arrived in the total credit provided by banks to the various sectors of (32.6) trillion dinars.

It consists of the banking system in Iraq from 54 banks, as well as the Central Bank. And distributed according to the property, between (7) state banks, and 23 commercial banks, including special (9) Islamic banks, in addition to the 15 branches of foreign banks.

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