New banking facilities

by **Rocky** Wed 18 Sep 2013, 6:07 pm

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Join date : 2012-12-21

Post n°1

New banking facilities

by Rocky Wed 18 Sep 2013, 6:07 pm

New banking facilities

19/09/2013 12:00 AM

BAGHDAD - morning

Association called on private banks in Iraq to make substantial modifications to the work of private banks to bridge the gap between them and the government banks.

Executive Director of the Association of private banks in Iraq, Abdul Aziz Hassoun said in an interview for the (morning) : "It has to be that there will be a committee of the central bank and private banks to discuss the issue and find a formula adjustments and plan for the work of private banks ."

It is said that a source familiar with has revealed several modifications will be taken on the work of private banks , indicating that these amendments will take place during the next few days . Said Hassoun that " private banks make up 15 percent of the assets of the Iraqi banking system , while a government banks three in addition to specialized accounted for 85 percent , " viewing it as an inert banks because their capital is not running properly by the right investment .

He stressed the Executive Director of the need to repair the imbalance in the banking system and the gap between the government and private banks , indicating that the private banks with the level of performance is very high , but they are handcuffed in the use of technology in the market , especially as the number of branches over a number of government banks , and its Systems business name " Online OnLine" ie, that all branches connected with the public administration in the bank motherland, as well as to all the branches shift funds instantly between them , and the use of instruments, electronic , it all comes on the contrary of the mechanism of action of government banks that are still operating on according to manual system , he says.

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