Bankers: Iraqi banking systems worst Systems in the Middle East

Ali Salman - 12.09.2013 AD - 9:07


Citizen newspaper - dreams Frejee

Economists criticized the current banking systems and banking law currently in force, calling for the need to keep pace with the global development and upgrading of cultural evolution with the Arab world and the EU.

 Maytham coffee, an economist and academic at the University of Mustansiriya criticized the banking systems, saying, "The banking systems in Iraq are still in the middle stages without in terms of development and works routinely rely on conventional methods.

He and coffee for the (citizen), "The banking systems are still using the style of exchange and capture the cash, as it has not been used so far Systems automated teller ATM There is also the problem of delay in the foreign exchange special system SWIFT, as there is a narrowing of the transfers by Aloisturn Younine.

He stressed that "private banks suffer from lack of their ability to meet the legal requirements that it be taken into account by the law, which leads to the inability and decisions liquidation, because there is a decision to liquidate five other banks, bringing the number to seven banks, after the decision was made ​​to liquidate banks ex .. As these banks have not been able to reach the required capital (250 million dollars).

He noted that the solutions revolve around the restructuring of private banks, and encourage integration, this despite the fact that this problem is not easy, because most of these banks are banks, family, and difficult for them to change the culture that does not believe in partnerships, this as well as the problem of contracts legal necessary, which is another problem plaguing the Iraqi private banking system specifically, what prevents him from going towards the option of merger and restructuring.

For his part, Dergham Mohammed Ali, president of the media center of economic (citizen), "The systems Iraqi banking systems lag in the region significantly, both the development of civilization in terms of banking systems and experiences of Iraqi banks added to the lack of mechanization of modern addition to Etzel some classics eclipsed by the time it is Clogged to invest because of the lack of qualified leads banking financial process.

Said Mohammed Ali, "The first suffering investors in Iraq is the lack of a banking system is qualified to be a procession of the process of investment opportunities ethnic not lead to work correctly addition to not possess the balance and financial capital with the exception of State-owned banks are not eligible practically to grant credits are large and to not possess Altaatsudaid by phone or the Internet.

" He noted that the banking systems of the Iraqi operations are still Tackling the way classic and it is a complex process and continues our banks suffer Democratic Administrative Law banks so far the law is the processions of the evolution of the global banks so we find Iraqi banks in the valley and international banks all in the valley last so is one of the more banks backward in Iraqi banks are the world can not be measured in any banking system in the world where all the systems that are more advanced than the Iraqi banking system.


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