Banking calendar attracts large foreign capital

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Banking calendar attracts large foreign capital

Post  Admin on Tue Sep 19, 2017 9:30 am

Tuesday, 19 September 2017 - 11:25 AM

Baghdad / Al-Sabah
Financing represents the most important steps required to implement service and productivity projects and various aspects of the economy that await the optimal investment for its living and be an active contributor to the economic development process, which we look forward to overcome the first of the next period.

Financial analyst Tawfiq al-Ani stressed that the reality requires the actual work to provide funding that drives the financial sector and projects and achieve development, which requires in turn to overcome the lack of confidence of the citizen banking system, stressing that it is not new, and the problems experienced by the banking sector was not the main reason, Negative effects on this sector, especially that the Iraqi citizen does not have the willingness to put his money in banks. He pointed out that this was because of the situation of the country confusing since decades, where continued wars to create a state of anxiety of the citizen made him lose confidence with the banking sector, and the banking problems and the bankruptcy of some banks to enhance the state of distrust.

Interest rates, adding that the restoration of confidence needs to go through several stages of adoption of new mechanisms through the activation of electronic payment on a large scale in daily life, pointing to the need to raise rates of interest and work on the development of marketing systems in the domestic financial sector, His money is safe after he reaches a convincing case that the bank is a real guarantor of his money.

"The individual is a central and individual duty to build trust between the citizen and the financial sector," he said. "The first is the central bank and the banks. The individual needs large-scale education mechanisms," he said. Of the volume of local currency and represents a loss to the Iraqi economy, where banks can attract 8 times the capital and employment in the service of the economy, as happens in successful economies and here benefits the banks and citizens. Hakim pointed to the importance of the existence of a link between the financial sector and the citizen's wealth of money, Rorh that there is a role for the Deposit Insurance Corporation to build confidence between the parties, pointing out that banking transactions are now between banks and citizens need to expand its circle and here it is in dire need to strengthen confidence. He pointed out that the non-invested cash mass is estimated at 77%, which can lead to growth in the same proportion in the national economy and contribute to the activation of credit and letters of guarantee, thus extending the credit "loans", indicating that the credit activity is now restricted. He pointed out that trust between the bank and the beneficiary raises the bank's financial solvency and this reflects a positive reality for the bank in front of international banks and entities. He stressed that the money that comes from abroad for investment purposes is also looking for guarantees, indicating that in all cases guarantees are working to attract funds to the investment sectors through banks and large numbers. He pointed out that attracting money to Iraq can be described as weak, despite the existence of international institutions that come with large investments in amounts that make a qualitative leap from these institutions Islamic Development Bank, but it comes on terms of the most important financial adequacy of local banks and the ability to attract deposits at specific rates.

The volume of work confirmed that the progress of banking and raising the interaction with the citizen and the conversion of the mass of cash from homes to the financial sector contributes to attract large investments in amounts exceeding one billion dollars to the investment entity and these figures in any case pass through the banking sector and the role of increasing the volume of work associated with financial space. The public is a key element in achieving the personal and national benefit through the return it receives and contribute to the building of the national economy through the implementation of development projects that the economy and come back to the front depending on the money Almknzp. He said that the transfer of cash mass can be employed in the service of the national economy and enhance the spirit of citizenship more as it provides job opportunities and the emergence of residential complexes and the movement of all economic sectors and these are the most important benefits of the transfer of the bloc Almtzzaza to the banking sector.


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