Warnings exposure of some private banks for bankruptcy

9/24/2014 0:00

Experts: Central Bank and Ministry of Finance are urged to rescue plans
Baghdad morning

Experts have warned in finance and economics from the consequences of exposure to some of the private banks losses may lead to declare bankruptcy in hot areas that are exposed to terrorist operations.

The head of the Association of private banks in Iraq and Wadih Handal's "morning": that "private banks face the problem of debt repayment by borrowers in the provinces because of the hot events taking place in and threatening to declare bankruptcy each other."

He called bitter melon stakeholders to the need to develop plans to save in advance before a potential problem, especially since there is not the possibility of repayment means for weakness in its financial solvency and shortcomings in the performance of Mhamha.mn his part, warned a banking expert Mohamed Ali Jaber, Managing Director of the Bank of Baghdad from the declaration of bankruptcy of some banks and potentially alarming by the terrorist attacks of gangs "Daash" and that most of the creditors have been subjected to displacement is difficult for them to repayment at the present time.

Jaber said "morning": that "banks are not the cause of these losses but relate to the overall situation and neither those in the hands of creditors of displacement because of terrorist aggression, and it has to be that the government take measures scientific be a way out of this problem and not to resort to put guardianship Awaltsfih because the reason is not about policy banks, but the general situation as I have. "

For his part, counting the economic expert d. The appearance of Mohammed Saleh, said that this debt is not only stalled but impossible debts in the short term, the solution to this problem lies the beginning of the adoption of the budget for each bank hedges and then offset the possibility of any profit the next year that the banks do not distribute profits.

The added benefit of the "morning": "In the event of continued losses to the extent of bankruptcy when it could boost liquidity by the central bank to provide soft loans and long-term or government bonds long-term and the benefits of simple until settles from the crisis, citing the measure that the guilty banks this lag but because of the security situation and terrorist threats and not the policies of the banks and the door of justice to maintain its existence is nothing but. "

Economic expert on behalf Antoine said "morning" that money back to the banks shareholders and the Iraqis the responsibility of state and government to maintain them as it is the responsibility of solidarity means everyone is in favor of taking Ahraat preventive and rescue plans for banks.

He pointed out that the reputation of the banks are important in supporting the programs and orientations of the Iraqi economy to investors and big companies Maintaining and banks immunity from responsibility of the government and parliament, as I said before.


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