Bankers: the establishment of banks an unfortunate step in the Central Bank

Bankers: the establishment of banks an unfortunate step in the Central Bank



13/08/07 (12: 01 pm)

Baghdad/Khadr agonist

Experts criticized the bankers high body to monitor the work of banks in the country, noting that the Central Bank is the sponsor of the banks, with the parliamentary Finance Committee demanded the establishment of an independent special administrative Iraqi banks are isolated from the Central Bank to support and development of the banking sector in the country.

The Executive Director of the Association of promised private banks Abdul Aziz Hassoun that "Finance Committee a body concerned with the control and development of an unfortunate step, banks being generated from the intersection with supervision by the Central Bank of Iraq".

The goldfinch "range", according to the law, all banks must take exercise Finance Central Bank regardless of whether the public or private banks are subject to the law of one. "

Economic expert said Akram Abdel-Aziz: we would like to point out that the proposition came from the door of ijtihad to fix a particular position.

Abdel Aziz said in a statement to "range" to "the country suffered from sagging, meaning the existence of institutional structures need advent, they represent a burden on the State budget in its spending," wondered "why the call to find another institution to the Central Bank of Iraq, and is it alternative or will they be a supervisory body"?

She noted that "the call for the creation of two or two working in the same direction leads inevitably to an explicit and clear intersection", the fact that the Central Bank has specialized enterprise of all technical and administrative aspects and money supply and banking supervision and management of cash reserves in accordance with the indicators of the economy and the economic cycle ".

"The call for the establishment of another institution requires a qualified and experienced depth in the cash area, if such expertise exist should employ these efforts and expertise under the umbrella of cash management and the Central Bank."

The specialist in Economic Affairs ruled out Dergham Muhammad established an independent body dealing with banks, stressing that the Central Bank is the sponsor of the banks that are open to the general lines of the banks.

Muhammad Ali, said in a press statement, that "the establishment of a body established by banks all over the world, adding that" this step is positive because the banks must have autonomy in its policy. "

He added: "the Central Bank is monitoring the performance of banks and depositors ' funds, through continuous monitoring of progress, as well as policy makers, interest and nature of credit and compulsory reserve value."

"There are bodies such as the Federation of Iraqi banks and bodies of civil society organizations working on assembling and supporting common policies for studies for the development of the work but not the decision to hand the banks."

The parliamentary Finance Committee demanded the establishment of an independent special administrative Iraqi banks are isolated from the Central Bank to support and development of the banking sector in the country.

The Committee said the National Alliance Deputy Secretary Hadi: his Committee asked the Federal Government to form an independent, unaffiliated to a particular banks, concentrated control and developing the work of local banks with branches. Required, in a press statement, that "the Board consists of professionals and people with competence and experience in banking, not belonging to any political party, in order to proceed with its work towards the development of the banking sector," he said, adding that "the body is assumed to be isolated from the Central Bank to sign up for the Central Bank to stabilize the exchange rate of the Iraqi dinar against the US dollar."

[You must be registered and logged in to see this link.]