#####Yasiri: restructure the Rafidain and Rasheed includes four axes .. And will support the banking sector

20-04-2013 01:14 PM


Baghdad (news) .. According to a member of the Finance Committee MP / National Alliance / Abdul Hussain al-Yasiri, that the plan to restructure the Rafidain and Rasheed by the International Monetary Fund (IMF) includes four key paragraphs will help to support the development of the banking sector in the country.

Yasiri said (of the Agency news): The plan to restructure banks government Rafidain and Rasheed developed since (2007) and formed through a committee headed by the central bank governor and finance minister and head of the BSA, in cooperation with the International Monetary Fund.

He added: that the committees began their work but did not achieve positive results and important at the time, but later formed a committee composed of general managers in banks and representatives of the Central Bank and the International Monetary Fund and began their movement in earnest for the support and development of the banking sector in the country.

He explained: that the plan includes four axes including the operational restructuring of banks and strategic restructuring and revaluation of cash assets of the two banks, as well as re-banks and accounts audited by an external auditor.

He pointed out that the government banks lack of modern technology despite the introduction of some technological Kalptaqh and other smart but needs to be more techniques to keep pace with the evolution in global banks.


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Cash assets are assets that can be QUICKLY converted to cash with NO loss. They include actual cash, savings accounts, checking counts, money market accounts, and the cash portion of some brokerage accounts.

Contrary to the first answer, it does NOT include shares of stock or equity in anything. These can't be sold overnight at predictable value.



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