Economists: Created a joint investment bank overcome obstacles

Economists: Created a joint investment bank overcome obstacles




They enact laws that promote the country's banking sector

6/10/2013


Citizen - dreams Furaiji

Collect specialists on the need to move in order to overcome the great challenges facing the banking sector and overcome the obstacles by building a business strategy and a clear control to control the direct banking activities towards the promotion of productive and service sectors and investment and through partnerships between the private banking sector and the government on the one hand and between them and international banks create an investment bank subscribers. Member of the Finance Committee MP Najiba Najib praised the idea of ​​establishing a joint venture between the public sector and the private sector in the development of banking and the development of the banking sector. Said Najib told the (citizen) that »Create an investment bank jointly contribute to the development expertise of the private sector stalled and promote the banking sector, saying« that the private sector banking more sophisticated and more commitment in the management of banking business, which will add to the governmental sector development and activation and progress banks banking «. Called Najiba Najib the need to support the project government and encourage the advancement to keep pace with the global development and the success of the investment bank joint «. and continued by saying« must be investment companies and investment law, support the private sector and the provision of land good for the success of the process and that there is a will and confirmed by those who manage the bank and will play a great success and especially that Iraq needs so banks «. As Vice President of Media Center Economic haven secretary (the citizen) .. That» Create an investment bank need legislation of several laws in line with the reality of banks for the success of the project, pointing out that «the investment law will not give encouragement to the owners of capital foreign to enter Iraq to invest heavily and will not give the opportunity for the private sector to invest «.'s secretary that» Iraq is a land and promising investment banking and other investments but disable economic laws stands a barrier to the development of the Iraqi economy «. However, that« the idea of ​​creating an investment bank idea successful if sustained enactment of laws supportive of investment and banking sector and will contribute to the advancement of the Iraqi banks when their involvement with some in the banking business'. On the other hand explained economist Raad Twigg's (Citizen) that «the banking sector needs to laws more support for the advancement of working with the staff more professional and to reduce the administrative corruption to promote it, asserting» that the idea of ​​establishing a bank project shared between the public and private sector is a good idea to offer more in the banking sector '. He said Twigg «The process of establishing the Bank of mixed and announced on the Keywords Secretary General of the Council of Ministers will be a milestone in the life banking Iraqi and a real shift in the activity of the Iraqi banking, and a trend towards privatization automatic and progressive as a prelude to reforms comprehensive banking, which may be in the form of a wave as they succeed experience ». He added that »the launch of the share of the private sector in the form of shares of primary exposure to the public it is natural to be a major share of the ownership of shares of the state shall be sound golden (share gold) of the State which is controlling the key decisions and fateful relating to the bank and to keep the assets and the assets of the Bank of speculators, who may trade across the financial markets'. He pointed to the existence of the experience of the Bank of mixed sponsored by the Central Bank in 2005 did not develop because it was limited, but the new experiment with government support and wide can write a great success and it is expected to increase the share price after deducting share primary for viewing period and for the facilities to be provided by state-of-hand land which will be held by the bank branches and other preferences that will increase the real value of this lucrative share. He went on to say that »the process of coordination between private banks and public fruitful process completely, but it must be noted that the private banks and public works and coexist in the yard of banking and one is banking arena of Iraq, which is in a state of competition in order to gain customers and clients and to provide banking services better and reduce the cost and provide banking products Least Sarafaúdh, as well as providing development loans, and can be in providing coordination and exchange of experiences and building a cadre bank and exchange of information for the record lending to customers and cash Mlaúthm ». He kept lending policies and are custodial policies regarding legal personality for each bank, it does not prevent Tokhid general trends of credit policies that fall within the monetary policy of the central bank. As a bank to carry out the investment directly, it is contrary to the essence of the banking business and that as an area or space to create lending and credit any do financial intermediation between savers and investors and fund investing or doing credit leasing, because the monopoly of the process of financing and investing at the same time means the abolition of such banking for banks. The banking sector held its first conference in Iraq 29/09/2013 drained to study the problems where the UN Secretary General of the Council of Ministers d. on the Keywords speech on behalf of the Prime Minister in the first Iraqi Banking Conference, which sponsored the conference that the private banking sector takes its required role and constitutionally guaranteed in the process of development and construction, investment and ages, noting its importance in attracting international companies, banks and international funds to contribute to the rise of Iraq's development. And reached the conference which was attended by a parliamentary figures and high-level government and representatives of Arab and foreign banks to establish a joint investment bank between the private bankers and public sectors and the contribution of citizens to activate the role of the banking sector in investment and posts strategic projects.

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