Economists: law enforcement mechanism of action private banks ايطبق the right way

Author: bian5 on: Mon 05/08/2013 01:31 pm





BAGHDAD / WAP / report: Ghani Saidi .....


Collect banking specialists in the field of a crack down on private banks in Iraq, with the need to implement their own laws as required.

Economic analyst Bassem Jamil Antoine that the policy of the central bank deal with the banks, whether governmental or civil where a lot of duplication.

Said Antoine news agency Baghdad International / WAP / "The Central Bank is the sponsor for all banks without distinction, and equally, whether governmental or private, but this is what we find on paper without seeing the light on the ground and the application, where there is a law that sets the foundations of dealing between the Central Bank and banks, while allowing the central bank put اسسس to work some of these banks. "

Antoine confirmed the existence of narrow private banks, as well as the lack of justice between the bank and the last, and even the civil laws on banks to not apply the correct format, where there is scaled to the role of these banks. "

He pointed out that "the instructions issued by the former Minister of Finance and beyond the call to curtail the role of private banks and lack of equality, and this disagreement to the Banking Act and its relationship with the central bank, where it is assumed that these banks are licensed and enjoy all the benefits and factors to help promote their work."

He said the "the central bank not to take strict measures against the banks because these measures will reduce foreign investor appetite for work in Baghdad, in the case of action is appropriate at this time the right of banks."

For his part, economic analyst nice Okkaily on the central bank to deal with the banks reap and double that limit the process of development of the banking reality in Iraq. "

Ugaili said news agency Baghdad International / WAP / that "private banks is possible that they have the potential to help in the promotion of the reality of the Iraqi banking, but who stands impediment to this contribution by private banks is a process of transition from a totalitarian regime to a market economy is not the process easy because Iraqi banks were going on the mechanics and the foundations of the totalitarian regime in the past, and after the change guide Iraq toward a market economy, but all the mechanics of the market economy are now available that's not possible. "

He added that "the transformation process produced a certain constraints in the banking business, so the central bank must have a mechanism reservation balance in the deal between the government and private banks, because of duplication in the deal between private banks (private) and government will have a negative impact and bad on the fact the banking and harmful laws and development of the national economy. "

He pointed out, that "the central bank has to be clear and successful plans which rely on the development of the financial and banking sector in both twofold."

The analyst believes the economic peace Sumaisem that the Ministry of Finance to deal with the private sector on the banking sector that continued to the state and this is not permissible and greatly affects the development process.

She Sumaisem news agency Baghdad International / WAP / "This issue is not only the Ministry of Finance, but exists in other bodies, including the financial markets, which took control of the stock market as well as the Investment Authority, and this is proof that he has yet to be a change in the mentality of public and in particular political mind about how to deal with the private economy and this is proof the state's inability to convert to a free economy. "

She added that the "official bodies so far not know how to deal with the private banking sector."

She pointed out that "the Iraqi constitution approved the transition to a market economy, but the Iraqi government does not recognize this subject, where he is now dealing centrality of severe and acquisition of facilities and this is one of the things that hinder the process of development in Iraq and disrupt the investment process in Iraq." / End 2


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