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Financial expert indicates observations in private banks work
1/30/2017 0:00
[rtl] BAGHDAD / Hussein Tgb
continue diagnosis Hdiat the financial sector , which is the axis of the starting of the process of sustainable development, where economists diagnose problems and asking treatments caused the aim of achieving real advancement of the money sector to move the flow of work in all sectors.
Financial expert Mohammad Ali Jaber said that the development of the economy Baktaath production and service requires a well - developed banking sector has the tools to deal with the evolving requirements of global companies that products need to be commensurate with the size of the money supply that requires field work in Iraq.
He cautioned that the need to maximize efforts to develop the private banks , which awaits the future of the Financial Action Task management, according to the data of open market economy sector, noting the need to be done to determine the strategic objectives required and credit policies, as well as the reality of consulting Iraqi banks.
The banking sector in Iraq is made up of the five Distributed central bank and its branches in some cities, banks and government number eight commercial banks and the 22 private banks and 15 Islamic banks as well as branches of foreign banks with 18 branches.
He said in an interview with "Morning" that despite the efforts being made to develop thebanking sector , but they were not the level of ambition and the need to raise and Tairha and keep it away from the case of slow evolution, pointing out that this actually creating a gap between the citizen and the banking sector.
He said the Central Bank underlines always embrace the goals of the strategy for private banks and fee credit and investment policies which are crossing the current stage , the biggest transparently away from delinquencies and loss.
Jaber stressed the importance to have a strategy to work each bank being able to progress and achieve the goals and the ability to provide multiple services to customers and characterized its evolution and meeting the needs of beneficiaries (customers or companies), as well as achieving steady growth in revenue of service charges and interest earned from different activities.
A source at the central bank urged the supervisory committees of these banks to take executive action to facilitate the guarantees provided for these loans and use the proceeds to repay the deposits of citizens, and the movement of the banks to put necessary to face the bad - loan risks of financial allocations, and operations of the reconstruction of its branches located in areas of conflict with the "Daesh" for the purpose of the exercise its again over several years of (120) branches , "
and pointed out that the strategic objectives required is banking governance by giving full powers to the directors of Commissioners to take responsibility and achieve success to work and provide services and products described as upscale, and by adopting a development plan for the advancement of customer service.
He said the the most important dynamics of the private banking sector instruments is to raise the level of performance and the deployment of ATMs in accordance with the opening of branches plan, as well as the launch of new products at least five (5) new products and services segmentation annually, as well as providing the commercial services department managers relations are characterized by a wealth of experience in this aspect, indicating the need for banking services to the percentage of
6070 percent of total services.
Jaber stressed the need to develop the Treasury worked to control internal and external deposits and centers of currency trading and liquidity management , where you should pay attention to the seriousness of the functions of the department that must be available with an efficient administration to check on the liquidity situation in Iraq.
He said that banks should abide by the action plan President requires good government adoption and activation of risk management and continue to follow - up, and reduce bad debts or the possibility of writing off a certain percentage of not more than 5 percent and contain the risk of branches broken as well as the development of departments of banks in the south and the Kurdistan region.
He pointed out that the basic credit policy tasks come in order to ensure compliance with the regulations of the Central Bank of the secondary aspects of the operational activities of control and to review loan applications and compatibility with the Bank 's policies, pointing to the importance of sending monthly reports to the Central Bank on loans granted to customers, urging the instructions in the application in the indicative list issued by the Central Bank.
Jaber stressed the importance of the bank to be an acceptable investment policy in stock and documents produced within and outside Iraq , not to exceed the total contributions for 20 percent of the bank 's capital.
He was adviser to the CBI Walid Idi student departments of banks have an annual plan to organize its operations are based on attracting deposits, providing credit, to carry out investment, grants for small and medium - sized loans, identify and follow the required levels of liquidity, compliance monitoring, and the development of internal control, and anti - money laundering, as well as from the Directorate General of the banking and credit control directing a final warning to the President and members of the management boards of the banks who have received previous banking facilities and outstanding loans to be paid within two months.[/rtl]
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