Calls to increase the interest rate on deposits to revive the banking sector

03/10/2016


BAGHDAD / JD / .. in light of the reluctance of citizens and owners of capital for bidding farewell to their money in local banks, the government and private two branches, called for a number of specialists in the financial and economic affairs to increase the interest rates on the financial deposits and launch campaigns to encourage citizens to deal with the banks in order to revive the banking sector and the advancement with it.
Iraq has about more than 50 banks and the government waged, with about 800 branches in Baghdad and the provinces, including Islamic and commercial and specialized.
Sees banking expert Mohsen that it is necessary to encourage citizens and restore confidence to him to deal with the Iraqi government and the private banks and two branches, to support the banking sector and the head with money to carry out his duties investment and contribute to support the development process in the country.
Ali told / KD / The banking sector reflects the strength of the economy, in other words, that if we had a discreet banking sector, bringing to the national economy is strong and solid, calling for legislation laws that protect banks and organize their work and stimulate citizens to be dealt with by increasing Nspo interest rates on deposits and therefore we will make Iraqi banking sector economically vital sector.
He continued, "Unfortunately, the local banks are now turned into a banking offices and confined her to sell and buy the dollar only auction currency at the central bank, affecting banking activity in general in the country, pointing to find a law regulating the work of banks, similar to the evolving global banks.
For its part, said a member of the Finance Committee MP Magda Tamimi, said that "people are still afraid of not getting the money in the event of bankruptcy of banks," indicating that "the characteristic of the government for private banks is the existence of laws guaranteeing citizens the safety of their money, even in the event that any government bank filed for bankruptcy. "
He said al-Tamimi told / KD / The committee intends to make a proposal to increase the interest rate of the money deposited with the government banks, to encourage citizens to deposit them, indicating that "the main objective of the proposal is to create liquidity in the possession of the citizens of the homes to the banks in order to increase the level of funds and creating an attractive environment to invest at a time when we need it most. "
The CBI has said, earlier, for more than 20 banks in response to the rehabilitation of Rasheed Street and public squares in the capital Baghdad, as pointed out that work was underway to launch the project "Take a Baghdad" to carry out large projects capital appear as befits its status and depth of civilization. ended / 8 /

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