* Fruitful meeting between the central bank and banks Aalkhash result in the formation of a specialist technical team to address the problems and constraints of work

Admin Sun Jun 09, 2013 1:27 pm

8/6/2013

Central Bank: Snkadhi one members of the House of Representatives for insulting us

* Bankers and experts condemn the intervention of security forces to the work of private banks and refuse guardianship!!

* (Hussain Salman Al Shammari)
Managing Director of the Bank of guidance to the work of private banks
proved Bldleil the cutter effective contribution to the national economy
and development

زهير الفتلاوي Zuhair al-Fatlawi

In a strange incident elements of the forces (SWAT) raided some private banks to charge its integrity under the pretext of court

The existence of violations of
financial in those banks and held the Association of private banks in
Iraq, held an emergency meeting with the directors of the Board of
Directors of banks and issued a statement condemning the these measures,
describing it as a breach of the law and a dangerous precedent knock
the wedge in the coffin of the Iraqi economy without taking into account
the economic importance of these banks, which stands at a crossroads
now because These illegal actions.

Said Abdul Aziz Hassoun Executive
Director of the Association of private banks in Iraq that these measures
are illegal and was to issue a statement denouncing such acts which
will cause obstruction acts banks, especially in the investment,
construction and its negative effects on the development and reputation
of Iraq and the economy in which he noted that many of the traders and
businessmen and citizens have pulled their money out of some of the
banks for fear of worsening the crisis with the banks.

And that there are legally in the
Central Bank of Iraq is being punished and evaluate and inspect those
banks and watching her work and then suing and punishable by court
financial competent and have extensive experience in this field which is
different from the Criminal Court may not be charged to those banks
without reference to the central bank, and this is a major breach of the
judiciary and for those who carried out this task

He revealed
goldfinch that signs of this crisis began to spread rapidly as it has
been stopped dozens of investment projects as well as confuse the
economic situation in the country and there is an international
communications surprised by these arbitrary actions that will harm the
reality of the Iraqi economy in various fields and students to
reconsider these procedures, especially as there are 42 banks operating
in the Baghdad, where they were called (27) banks so far as he Shirvan
Anwar Mustafa chairman of the Foreign Relations Committee of the
Association of private banks in Iraq: we were surprised by the news of
calling the 27 banks by the judiciary and attribute this to the
financial irregularities and there are controls in the Central Bank and
if you find these irregularities and violations they referred to a
special court knowledge of the central bank and there are special
measures in the Central Bank are working on and through the use of
experts in banking, said the managing director of a body of the legal
entity of the Bank shall not be dealt with through actions illegal and
revealed to hold a meeting with the Governor of the Central Bank and the
agreement to overcome These constraints team was formed technician
representing the Association of private banks in Iraq and said there
were complaints received from some members of parliament and other
parties stating the existence of irregularities and breaches of
financial But who assesses these measures, especially as the banks are
the intermediaries between the central bank and the customer, and if
irregularities have occurred on the customer the responsibility of the
central bank and must define responsibility between the parties, and
there are special instructions in this aspect issued by the central bank
and appealed to the President of the Association and experts in
economics and finance Prime Minister Nuri al-Maliki, the need to keep
the judicial authorities for these measures and the authorization of the
Central Bank of auditing and accounting operations

The central bank governor said Dr.
Abdul Basit Turki aware new: that the central bank demands to expel
الطارئين and parasites from the bank is continuously audit all banking
transactions with banks all and if there is a breach we have the
measures taken by the bank against offenders and to provide the violator
to eliminate either what I did the Court of integrity is override the
laws and powers of the Bank for being primarily responsible for
government and private banks, one of the offers communications on banks
in violation of regulations, rules and laws did not solve the central
bank of these banks that have been arrested directors to the competent
courts it is a unilateral action of the Court of integrity without the
knowledge of the central bank and this is a shake of the Iraqi economy
Turkish and demanded of the Prime Minister and the Supreme Judicial
Council and the MPs of this sensitive issue and that they are not
repeated in the future, especially that the measures came in general
بعديد from banks, which have a long tradition of expertise and
competence and professionalism.

He says economic expert Zia Alckheon:
that there is a lack of respect by the security forces for bankers in
these banks process their arrest came a step unprecedented .. These
banks have correspondence and links banking abroad representing
interface country through the conversion process, investment and
especially that these banks began to support the private sector through
small and medium-sized enterprises, it is not logical to keep ruled
Zarzis director of the Bank of the Middle East trapped charges is by far
cry He holds a global certificates and that these measures adopted by
the security forces rests with the central bank, which is being punished
these banks.

While stressing the Central Bank of
Iraq, said he would sue one of the members of the House of
Representatives for insulting the bank, reiterated his claim politicians
or wishing wading in such subjects standing on the health issues that
they have, especially since some are real and illogical.

The bank said in a press statement,
said that "one of the members of the House of Representatives said in a
television interview that the central bank has deposited in three Arab
banks billion dollars interest rate of 3%," noting that "this MP is the
beginning of what is going on, where the mechanism is accredited to the
Bank is a deposit with the central banks only in countries that have its
credit rating more than good, and is performed by a decision of the
Board of Directors of the Bank. "

The bank said that "these
conversations misleading used to meet the Bank's policy Avenue in
uprooting the corrupt and parasites, and his defense of the men bankers
serious and actors in building the economy of Iraq," noting that
"confuse the information public and shuffling papers in front of him
does not constitute an abuse of the central bank and the banking system
only, but also to the system of national effort to build the
institutions and support the economy and weakens confidence in any
decisions and mechanisms can be pursued by the state. "

The bank that he "reserves the right
to legal establishment of a lawsuit over what was stated in the
interview, which made this MP from abuse and misleading to the Bank's
work," reiterated its call "for politicians or wishing to go into such
topics, stand on the health issues that they have, especially since some
are not real and illogical for a specialist priori. "

The bank said that "access to these topics by the bank will not lose these credibility if their destination reform."

The CBI confirmed, on 19 May 2013,
that the statements unauthorized confused the market and led to losses
for businessmen and investors, resulting in losses for investors and
businessmen, noting that there was no justification for such statements
in economic terms.

And established the Iraqi Central
Bank as a bank independent under its law issued on the sixth of March of
the year 2004, as an independent body, which is responsible for
maintaining price stability and the implementation of monetary policy,
including exchange rate policies and being sessions a day for the sale
and purchase of foreign currencies with the exception of public holidays
which Bank stops auction.

A banking source revealed early
exposure of some private banks for "extortion" of "influential parties"
in order to obtain the profits like "royalty."

The source, who declined to be
identified that those actors powerful "lobbying very severe against
those banks. Pointing out that" these pressures began to escalate with
the failure of campaigns tendentious that you want to undermine the
government guidelines, especially programs premier anti-terrorism,
corruption and build an economy strong. , and the source said there are
points deduced working with the political process and build a new Iraq
have consequences for all the sons of one homeland and to maintain the
security and economic stability, in light of the variables that get in
the Arab world

The banking source said that he tried
to liquidate his bank in Iraq and maintain capital funds that invested
with his partners in the banking business, but he failed to "keep up
with the greed of influential people in the country."

"I've Jerni between two choices,
either to accept delivery of the required quota, or be my case as a case
Warka Bank," he said. And private banks are exposed to fierce campaign
under the pretext of the existence of breaches and financial
differences.
In those banks, as well as being accused of not maintaining the exchange rate.

While denies the Association of
private banks in Iraq that الاتهمات says Abdul Aziz Hassoun, executive
director of the association that these banks operate professionally and
is a supporter of the Iraqi economy, especially that here as
transactions and correspondence international with these banks have
funded dozens of investment projects and development as well as housing
and seeks to work Petknlogia high and away from operations Peru
administrative Qratih, has exceeded its fame and reputation of the
various relevant international circles to invest the money and the
economy in various directions.
About the need to support small projects and capacity development in the field of human resources

The economist suggests Badr Gillan to the important role of the private banking sector in the establishment of micro-finance

Small enterprises play an important
role in achieving economic and social development in various countries,
where a large proportion of industrial and agricultural projects and
services, and thus contribute to the absorption of a large number of
manpower and reduce unemployment.

Also play an important role in
increasing the technical skills of their employees, especially that
investors in these industries متجذرون in the economic and financial
environment and local social spreading in various areas of cultural,
regional and contribute to the creation of thousands of jobs that
contribute to the graduation of professionals and artisans new in many
fields.

Researcher Gillan confirms the need
for an agreed definition of small projects, there is a study gave us
more than fifty definition of these projects were conducted in 75
countries.

It has adopted a criterion for the
number sales or number of employees or standard capital and the degree
of specialization and technological level and so on, but the
International Monetary Fund put a criterion based on the labor used in
the project in order to determine its size, considering that this
criterion is simple and easy when comparing projects different

He says Abdul Hussein al-Yasiri
member of the Economic Commission parliamentary shouting there need to
activate the decisions of workshops and conferences held previously to
upgrade (the banking sector), especially as they gathered specialists
from the managers of government banks and a number of managers of
private banks and a group of specialists in the field of banking as well
as on the participation of the Iraqi Central Bank.

The aim of this workshop to find the
appropriate legislative environment for the banking business and the
reform of the legal framework for this vital sector for its importance
in the economic development of the country.

The MP said Yassiri that the
importance of the role of banks in supporting the Iraqi economy being
the party that you activate the economic and commercial activities and
developments in the work of banks after the fall of the former regime in
the field of infrastructure, trade and use of electronic means in their
work.

As demanded by the Economic
Commission MP Najiba Najib to pass laws and legislation facilitate the
work of Iraqi private banks and support the private sector and take
advantage of central bank reserves of the national currency in the
implementation of strategic projects and dynamic stressing that
political and security situation in the country has affected one way or
another on the banking business in Iraq

The MP expressed hope that the
recommendations of the Commission graduated supportive of the banking
sector, especially in the area of legislation is working on the
development of banks in Iraq to keep pace with developments on the
international banks

He sees the economic and financial
(Hussain Salman Al Shammari) Managing Director of the Bank of guidance
that the work of these banks proved Bldleil the the cutter effective
contribution in supporting the national economy, especially with regard
to investment and project financing various Alatnjahat,

And the price Shammari role of His
Excellency the Governor Central Bank (Dr. Abdul Basit Turki) and wisdom
administrative and economic contain the crisis and deal with them with
the utmost professionalism and expertise accumulated where contact with
all parties and resolve obstacles that obtained with Alqzae and overcome
obstacles in coordination with the Association of private banks in Iraq
and the central bank issued a statement Detailed between the media and
public Alri all the circumstances of the case and ways to solve them
with the participation of stakeholders and experts and technicians from
economies المعنين these sensitive issues

He hinted Shammari that private banks
have several functions, including its leading role in supporting the
economy and development to find job opportunities for researchers from
both sexes to provide liquidity to many Almsttmaren, businessmen and
money as well as supporting small and Tnmbh and human resource
development young.

Al-Shammari said the managing
director of the Bank of the guidance that the bank several feet of
research and special economic studies that contribute to the growth and
development of the banking business

An expert media economic Ammar Menem
number of proposals to support and develop the industrial sector and
Iraqi Commercial, said: given the economic policy of Iraq in recent
years, a priority for trade liberalization at the expense of
polarization of industrial and agricultural, introduced this national
industry to compete with unequal did not succeed in enticing investors
manufacture their products in Iraq world-class but imported from abroad,
so it has to be re-engineered the investment environment by adjusting
the investment laws and private Alaftaa support in various fields.

He stressed that since the long-term
we are talking about loans benefits are low, as it must be granted
industrial installations perpetual, and the establishment of industrial
zones for small and medium industries in the industrial clusters بكلف
reasonable, and allow its expansion, and to reconsider the terms of
industrial licensing and administrative support to it is tough
application of industrial plants outside the cities Industrial and
within the organizational chart of the city or beyond.

And the need to give large advances
and financial grants to the industrial sector and mixed for
re-development and support again

The expert said Menem that the
abolition of tariffs on materials used in the food industry, especially
at this stage of the country, and raising tariffs on imports of other
industry and private industry electrical appliances in order to protect
an industry that operates the largest number of employment and support
marketed externally, the industry Iraqi National Baktaiha public and
private sectors, and must work to deliver natural gas to the industrial
cities to be replaced replaced the old Alaszawanat especially that Iraq
daily burn large amounts of gas.

And finds Menem need to establish
special funds to industrial development state-run and funded by public
and private banks, and must strive to create incubators in the
industrial cities to secure the requirements of industrial action and
development, in addition to creating partnerships with developed
countries, for example, to encourage investment in the field of IT and
localization of the software industry, and must activate the role of
banks Industrial and reduce the benefits of borrowing industrialists,
farmers and rescheduling of their debts, especially owners of small and
medium industrial.

He suggested Menem development of
many art centers and Intellectuality with experience to take the reform
process, such as the Iraqi center of economic reform and Almússat
civilian working in the field of economy and investment, promotion and
support of the Investment Authority, and demanded an expert media
economic Ammar Menem Ali Almússat Althariabh that the tasks and
contribute to the legislation of all laws supporting of the economy,
investment and private project payment Baalogel inactivated by
Parliament and the rest of the other projects, and support the private
banking sector said that no less important for industry and agriculture
is considered the backbone of the economy and contribute significantly
to the advancement of peoples and required from all sides in the country
and the government supported and developed to suit the size of
investment and construction that the country needs at present,

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