Experts criticize focused funds in banks and government are demanding the establishment of a company to ensure citizens' deposits

09/21/2014 16:14



Long-Presse / Baghdad

Criticized the Financial experts and economists, on Sunday, focusing the bulk of the volume of bank deposits in Iraq, amounting to nearly 70 trillion dinars, in government banks, and renewed demand enactment of a law establishing a joint stock company from the government and private sectors, to ensure the deposits of citizens, working under the supervision of the Iraqi Central Bank, to revive the private banks as well as the national economy.

He said the financial expert, the appearance of Mohammed Saleh, said in an interview to the (long-Presse), "The function of the bank, whether government or civil strife are Brokerage, any transfer of funds deposited where (called surplus funds), to which they need lending from citizens or investors (called Units deficit). "

The former deputy governor of the central bank, that "Iraq has today 56 banks, including the six-governmental organizations, are Mesopotamia, rational, real estate, industrial, agricultural, trade TBI, and 30 regional banks and 20 Arab or a foreigner," referring to the fact that "banks today has deposits Finance of up to 70 trillion dinars. "

Saleh pointed out that "the origin of these deposits is either from the government or the deposits of citizens and investors wishing to savings," noting that "50 trillion size of these deposits is the government, which it funds belonging to the state, and the remaining deposits of eligibility, any of the citizens of all strata and their work." .

The financial expert, that "65 percent of those deposits combined exist in government banks, and the remaining 35 percent in private banks," attributing the lack of size of deposits in private banks compared Baovernmah to "double protection in the banks, unlike the government, which is protected by financial sovereignty of the state. "

Saleh continued, that "the views of a financial public and private has repeatedly demanded that there should be a joint stock company from the private bankers, private and government, to ensure the deposits of citizens, working under the supervision of the Iraqi Central Bank, and Tmmeltk asset financially significant can fill any deficit or confusion gets in any bank, my family, to compensate depositors The exchange Mbalghm complete without decrease or delay until the return of the bank to put it Almtlki natural, "asserting that such" requests Popt in a bill submitted to the Council of State in 2008, but he did not see the light of day until now. "



Promised financial expert, that "legislation that draft law possible to spare the Iraqi economy in general, and banks in particular, any embarrassment, and sends the spirit of civil tranquility banks among citizens."

For his part, saw an economist, Nazim nice Ani, in an interview to the (long-Presse), that "private banks need to support real and effective by the Iraqi state, especially from the Iraqi Central Bank, on their affairs," noting that "it is through the amendment Banking Law, which is unfair because he missed a lot of opportunities on the Iraqi banks and the size of its work and its evolution. "

He called al-Ani, to "allow the state departments to develop and deposits at banks eligibility," adding that it "contributes to move the financial activity and revive the domestic market."

According to financial expert, that "the availability of deposits constitute leverage strong for any bank," explaining that "deposits held by banks constitute a proportion of the liquidity of cash which are essentially high liquidity should be reduced through the launch of new loans to citizens what contributes to move the money and directed to serve the country's economy ".

Ani and stressed the importance of "supporting the private sector through increased loans to small and medium sized projects, and to facilitate the task of the owners to provide new income for them, and create more jobs, revive the national economy as a result."

The Iraqi Central Bank revealed, on the fourth of April 2014, for the opening of 15 branches of the banks, Arab or foreign in the country during the first three months of this year, as a result of his policy of openness to the world, noting that the withdrawal of leave one branch of the Arab bank for violating the conditions stipulated by laws .


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