Economic Analyst: Civil banks have limited control over the Iraqi economy

Author: Bian2 on: Sunday 05/19/2013 12:59 pm


News Source: Baghdad 2




BAGHDAD / WAP / economic analyst Bassem Jamil Antoine, that civil banks have limited control over the economy, but not Xatrh the government banks on monetary policy in Iraq.


Antoine told the news agency Baghdad International / WAP /, said, "State-owned banks can not forget its role in Iraq's economic process, as there is a 10 to 15 percent of the Iraqi banking activity."

He added, "The Iraqi banks are dominant mainly on the Iraqi monetary policy through the exchange rate of the dollar and the movement of transport and banking policy."

He said, "All these things Banking is, however, the central bank, and that the government banks (Rafidain and Rasheed and Trade Bank of Iraq) have a significant role in the implementation of monetary policy posed by the central bank despite the existence of control for some private banks on the scene cash in Iraq."

And called for private banks to provide documents showing their approach in the process of selling the dollar.

He said, "This case shows us that reliance in all aspects pertaining to monetary policy on the Iraqi government banks and not on the private banks that have a limited impact." / End 2


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