Off fiscal surpluses need for safeguards to be invested in the implementation of projects

06/09/2013 12:00 AM

More than 4 trillion dinars deposited in 5 large banks
Baghdad - شكران the Fatlawi
Remain
in place the possibility of investment banks, private financial
surpluses phenomenon has existed for many years and it needs to
solutions, particularly with the increase in normal rates of any banking
system in any country where more than 50 percent of the total budgets
of banks is no reason to open the doors to engage the actor in the
economic process through investment.
This is what made the Executive Director of the Association of private
banks in Iraq, Abdul Aziz Hassoun in his speech for the (morning).

Cash surpluses

Hassoun
said that the cash surpluses that were in the five large private banks
the end of last year (31/12/2012) up to 3.2 trillion dinars increased to
4.7 trillion dinars in the first half of this year, which means that
the issue in mounting a Miacher an
imbalance because the money to not use properly, adding that this
matter is an indication of a very important as if he could market the
use of these funds noting the existence of imbalance must be addressed
by the authorities and the authorities concerned What does it mean that
there will be banks where the money مايكفي and flooding and Atjd market
able to absorb The money that the process would be useful rewarding without the slightest doubt.

Large capital

He called for the need to address this imbalance by the parties and the relevant authorities such as the Central Bank of Iraq.
He
said Hassoun that if it wanted any company implementation of an
industrial project or agricultural or tourist, they need a large capital
as if the 100 billion dinars, or 200 billion dinars, it certainly can
not secure these amounts of capital and have to use banks other pointing
out that all economic actors small or
large does not dispense with the support and funding and this is the
task of the banks and not for the purpose of storage and retention. He
reiterated that the money should be used in the implementation of
projects and investments, but you need to insurance cover by the Central
Bank.

The need for guarantees

Hassoun wondered why such a large quantity and high percentage of liquidity without utilize them in the economic process? Replying
to the question needs to guarantees to ensure the banks recover their
money from borrowers through regulations monetary authority of the
Central Bank and regulations international frameworks for these banks
and be specific size dependence and strength rather than through
regulations and guarantees of banks internal pointing out that the
guarantees come through pledges made by government departments as
you convert the dues of contractors and suppliers for contracts
concluded with them to private banks for the purpose of disbursement of
funds have to organize practical form fundamentalist and ensure the
rights of the banks. noted the need to take into account the type of
property, location and area because there are banks suffer from real
estate that did not go for borrowers is discharged, pointing to the need
to be determined Central Bank of flexible measures so banks can ensure a reasonable profit for loans granted by.

Right Project Management

He
called goldfinch to the culture of the right of administration and
supervision of the project funded by the bank and this culture blocked
our which is not permitted under which the bank is within the Board of
Directors of watching you that things are going according to the feet of
study or does not work out in the whole world where he owns the bank
the right to manage project
because it is considered a guarantee of the rights to be provided in
the bank instructed the concerned authorities, adding that this
situation exists in the world, not a discovery.
Ignorance of the performance

And
between the Goldfinch that some shareholders bankers and speculators
are unaware of how to continue the performance of banks and leave only
to achieve profits without worrying about the continuity of banking
activity.

Guarantees

He
pointed out that there are disorders caused spreading panic, how to
ensure banks can recover their money from borrowers calling for the need
that there will be safeguards not provided for in the regulations of
banks interior, but stipulated in the regulations of the monetary
authority of the Central Bank and regulations spammers Global
International. Concluded Goldfinch his reference to that
private banks are not in need of financial support from the government
but need moral support and maintain its existence banking and open the
doors to them to deal with foreign banks better. Lama, director of the
Association of private banks in Iraq ultra-Nasser Hassan has criticized
the lack of proliferation of banks in Iraq and Baghdad in particular,
using Compared
country Arabic less space than Iraq, hundreds of kilometers, but owns
banks tens weaken Iraq calling for the need to pay attention to this
issue. noted the high need to use plastic money Kalveza card and Master
card instead of carrying cash regular and bear the risk while trading
operations.



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