Ways to privatize the Iraqi banking activity and financing for development
Preamble:
Saw the Iraqi banking system developments and transitions, and numerous paths variety in different points in time, and identified political philosophy and economic and financial conditions that prevailed at every stage, the features of the banking system and other economic sectors, linked to political philosophy and economic and financial conditions in each point in time, and moved the Iraqi banking system from Bending of the free market and then the case of co-existence between the public and private banks, the government monopoly Alyoda full banking status of coexistence and then again.
It is axiomatic that requires the attainment of the desired maturity banking activity, political stability and a long time, and a steady trend in the management and ownership of the institutions.
After these procedures character correction, Romania began implementing programs allocative banking and belatedly, during the second stage and sold part of the shares of banking to foreign investors, and remained the contribution of foreign ownership of the assets of the banking Romanian lower than the percentage in other countries of the group selected in the study, it reached 50% , and still two of the three largest banks under the control of the Roman government.
As for Croatia, the banking system has lived a long time as one of the main parts of the banking system Yugoslavian, and after Croatia's secession from the union remained its banking system bears the hallmarks of the previous phase, of an indirect ownership (collective ownership and management of self), and reflected the policy previous banking such as loans directed and which has led to a decline in the size of bank assets and stimulate weak financial position of the Croatian banks, on the measures taken to restore financial structure, without the need to support the government, taking advantage of the increase in banking operations with its key customers as companies export with good financial situation.
Has not gone unnoticed role of government operations banking reform endeavors and has adopted the Croatian government to nationalize three private banks, they need to re-structure, and the limited presence of the banking foreigner in the first phase on the foreign bank and one, and did not exceed the foreign ownership of 0.05% of the banking assets Alcrawtah until 1994.
In the second phase precipitated Croatia from the program allocative banking even dominated by foreign investors on the four banks, Croatian, and within the year 2000 amounted to foreign ownership accounted for 84% of the banking assets Croatian assigned to them in the framework of the plan, and remind them savings banks, which dominate the deposits Home, composed mainly of deposits Family, and there are specialized banks that deal with foreign-funded transactions in foreign currency.
In general, the allocative banking programs in six states passed Bmujtin of customization spread since the first (1995-1990), and the second since 1995 and until the beginning of the current century.
And used these countries multiple methods to customize the banks of which Maaraf document allocative (voucher Mass Privatzation) means allocating a certain percentage of shares Kksaúm ownership, and free of charge or at low prices to the users and staff or local investors, and the objective was to use this method, the rapid shift to a market system, and broaden the base of participation to absorb any opposition list for the process of transformation and privatization programs, and the other method, which was used from these countries, the style Find investor strategic, but that did not stop to say, that each country tried to use the methods of customization that fit with their economic and social own .
It is the outcome of the data of the six countries on the program allocative banking, said the number of banks that have been allocated to 2003 has reached 141, and the remaining number of public banks 127, while he became the number of foreign banks 110, and comes a number of local banks for the newly established rank Alakhirhhat numbered as in table 79 (6).
The average percentage of ownership of the strategic investor of 20.3%, in terms of the rate of the domestic investor ownership of 13.1%, as in Table (7).
But the most important indicators of the level of performance as in the table ([You must be registered and logged in to see this image.] is the level of profitability, where the increased profitability of banks privatized, bringing the rate of return on assets of banks that have been allocated 0.0175, higher than the rate of return on assets of public banks and local, where reached the (0.0004), (0.097 respectively).
The banks have witnessed that have been allocated an increase in expenditures to improve the technology used, and provide competitive wages, to attract banking talent.
Second: - The Egyptian Experience
Disease of the banking system in Egypt, his activity in the mid-nineteenth century, through the role played by foreign bank branches.
With the beginning of the twentieth century established national banks Egyptian and continued their number is increasing even numbered when the decision was issued nationalization No. 17 of 1961, twenty-five commercial banks, under which turned ownership of all private banks to public banks, in the framework of an economic policy based on the economic planning process.
With the advent of 1973 has emerged many of the indicators that reflected the weakness of the overall performance of the Egyptian economy, such as increasing the state budget deficit, and the growing size of the public debt, low savings rates and financial returns to the state, and refer Experts Egyptians that the low level of public institutions, and considered responsible for (20 % to 25%) of the state budget deficit, which hit the public, and became a public revenues do not cover only 77% of public expenditure, and this percentage has continued to decline in subsequent periods.
The economic pressures directly contributed to the elaboration of a political line and the leadership of a pro, the program of economic openness and direct liberalization of economic processes, which form a shift to a liberal and a trend towards a market system, and called on the Egyptian leadership in 1974 the private sector to participate in the economic process after a long break, and so varied economic policies in Egypt during the previous century in the transformation of the capitalist system, and to move towards socialism and then economic openness.
The trend toward more political power from the policies of openness and sense of the inevitability of economic reform aimed at overcoming many of the economic problems, such as compensation for the decline in the volume of foreign currencies, and complete the construction of infrastructure, and the burden of repayment of external loans.
The reduction of high inflation, which amounted to 1974 more than 25%, and the devaluation of the Egyptian pound / dollar to 80%, of the main objectives sought by the Egyptian government to be achieved with improved legal environment encouraging openness economic, thereby increasing the volume of private investments from 10% to 19% , between the years (1983-1974), and decreased investment from the public sector (90% to 81%) for the same period.
Although the vast openness of the operations, but the control of the public sector until 1990, she stayed on the prevailing banking and insurance sectors and by 90%
And strengthened the process of economic opening up the issuance of Law No. 20 of 1991, which abolished the case of differentiation, between public sector institutions, private sector and gradually within the framework of free competition for the advancement of public institutions, and the development of the issue of self-reliance and thus maximize profits, prompting granted autonomy in administration, pricing and financing, and fired on these institutions and holding companies which numbered 314 company, but that the Egyptian government is keen to make the issue of employment and employment in the general framework of government policies.
And targeted planners Egyptians ask these companies to customization in Durations medium and entrusted programs allocative, management advisory body with the independence and wide, and is located on the responsibility to develop plans for the re-structural institutions with financial structures is balanced, which is characterized by low productivity and the level of performance, and concentrated actions restructuring in repay part of the debt of these institutions and re-financing, which leads her to work from new and high performance to increase their profitability and then privatized, and fired at the office of this body of public projects.
[You must be registered and logged in to see this link.]
Preamble:
Saw the Iraqi banking system developments and transitions, and numerous paths variety in different points in time, and identified political philosophy and economic and financial conditions that prevailed at every stage, the features of the banking system and other economic sectors, linked to political philosophy and economic and financial conditions in each point in time, and moved the Iraqi banking system from Bending of the free market and then the case of co-existence between the public and private banks, the government monopoly Alyoda full banking status of coexistence and then again.
It is axiomatic that requires the attainment of the desired maturity banking activity, political stability and a long time, and a steady trend in the management and ownership of the institutions.
After these procedures character correction, Romania began implementing programs allocative banking and belatedly, during the second stage and sold part of the shares of banking to foreign investors, and remained the contribution of foreign ownership of the assets of the banking Romanian lower than the percentage in other countries of the group selected in the study, it reached 50% , and still two of the three largest banks under the control of the Roman government.
As for Croatia, the banking system has lived a long time as one of the main parts of the banking system Yugoslavian, and after Croatia's secession from the union remained its banking system bears the hallmarks of the previous phase, of an indirect ownership (collective ownership and management of self), and reflected the policy previous banking such as loans directed and which has led to a decline in the size of bank assets and stimulate weak financial position of the Croatian banks, on the measures taken to restore financial structure, without the need to support the government, taking advantage of the increase in banking operations with its key customers as companies export with good financial situation.
Has not gone unnoticed role of government operations banking reform endeavors and has adopted the Croatian government to nationalize three private banks, they need to re-structure, and the limited presence of the banking foreigner in the first phase on the foreign bank and one, and did not exceed the foreign ownership of 0.05% of the banking assets Alcrawtah until 1994.
In the second phase precipitated Croatia from the program allocative banking even dominated by foreign investors on the four banks, Croatian, and within the year 2000 amounted to foreign ownership accounted for 84% of the banking assets Croatian assigned to them in the framework of the plan, and remind them savings banks, which dominate the deposits Home, composed mainly of deposits Family, and there are specialized banks that deal with foreign-funded transactions in foreign currency.
In general, the allocative banking programs in six states passed Bmujtin of customization spread since the first (1995-1990), and the second since 1995 and until the beginning of the current century.
And used these countries multiple methods to customize the banks of which Maaraf document allocative (voucher Mass Privatzation) means allocating a certain percentage of shares Kksaúm ownership, and free of charge or at low prices to the users and staff or local investors, and the objective was to use this method, the rapid shift to a market system, and broaden the base of participation to absorb any opposition list for the process of transformation and privatization programs, and the other method, which was used from these countries, the style Find investor strategic, but that did not stop to say, that each country tried to use the methods of customization that fit with their economic and social own .
It is the outcome of the data of the six countries on the program allocative banking, said the number of banks that have been allocated to 2003 has reached 141, and the remaining number of public banks 127, while he became the number of foreign banks 110, and comes a number of local banks for the newly established rank Alakhirhhat numbered as in table 79 (6).
The average percentage of ownership of the strategic investor of 20.3%, in terms of the rate of the domestic investor ownership of 13.1%, as in Table (7).
But the most important indicators of the level of performance as in the table ([You must be registered and logged in to see this image.] is the level of profitability, where the increased profitability of banks privatized, bringing the rate of return on assets of banks that have been allocated 0.0175, higher than the rate of return on assets of public banks and local, where reached the (0.0004), (0.097 respectively).
The banks have witnessed that have been allocated an increase in expenditures to improve the technology used, and provide competitive wages, to attract banking talent.
Second: - The Egyptian Experience
Disease of the banking system in Egypt, his activity in the mid-nineteenth century, through the role played by foreign bank branches.
With the beginning of the twentieth century established national banks Egyptian and continued their number is increasing even numbered when the decision was issued nationalization No. 17 of 1961, twenty-five commercial banks, under which turned ownership of all private banks to public banks, in the framework of an economic policy based on the economic planning process.
With the advent of 1973 has emerged many of the indicators that reflected the weakness of the overall performance of the Egyptian economy, such as increasing the state budget deficit, and the growing size of the public debt, low savings rates and financial returns to the state, and refer Experts Egyptians that the low level of public institutions, and considered responsible for (20 % to 25%) of the state budget deficit, which hit the public, and became a public revenues do not cover only 77% of public expenditure, and this percentage has continued to decline in subsequent periods.
The economic pressures directly contributed to the elaboration of a political line and the leadership of a pro, the program of economic openness and direct liberalization of economic processes, which form a shift to a liberal and a trend towards a market system, and called on the Egyptian leadership in 1974 the private sector to participate in the economic process after a long break, and so varied economic policies in Egypt during the previous century in the transformation of the capitalist system, and to move towards socialism and then economic openness.
The trend toward more political power from the policies of openness and sense of the inevitability of economic reform aimed at overcoming many of the economic problems, such as compensation for the decline in the volume of foreign currencies, and complete the construction of infrastructure, and the burden of repayment of external loans.
The reduction of high inflation, which amounted to 1974 more than 25%, and the devaluation of the Egyptian pound / dollar to 80%, of the main objectives sought by the Egyptian government to be achieved with improved legal environment encouraging openness economic, thereby increasing the volume of private investments from 10% to 19% , between the years (1983-1974), and decreased investment from the public sector (90% to 81%) for the same period.
Although the vast openness of the operations, but the control of the public sector until 1990, she stayed on the prevailing banking and insurance sectors and by 90%
And strengthened the process of economic opening up the issuance of Law No. 20 of 1991, which abolished the case of differentiation, between public sector institutions, private sector and gradually within the framework of free competition for the advancement of public institutions, and the development of the issue of self-reliance and thus maximize profits, prompting granted autonomy in administration, pricing and financing, and fired on these institutions and holding companies which numbered 314 company, but that the Egyptian government is keen to make the issue of employment and employment in the general framework of government policies.
And targeted planners Egyptians ask these companies to customization in Durations medium and entrusted programs allocative, management advisory body with the independence and wide, and is located on the responsibility to develop plans for the re-structural institutions with financial structures is balanced, which is characterized by low productivity and the level of performance, and concentrated actions restructuring in repay part of the debt of these institutions and re-financing, which leads her to work from new and high performance to increase their profitability and then privatized, and fired at the office of this body of public projects.
[You must be registered and logged in to see this link.]
Today at 10:54 am by Rocky
» Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy
Today at 10:43 am by wciappetta
» utube 4/18/24 Iraq: Over 14 Agreements Signed Between Iraq and US BREAKING NEWS from Congress.
Today at 7:04 am by Rocky
» utube MM&C 4/16/24 IQD Update - Iraq Dinar - America - Activate - Massive Economic Deals -
Today at 7:02 am by Rocky
» utube MM&c 4/19/24 Iraqi Dinar - Private Sector - Economic Stability - Financial Reform - Al Sudan
Today at 7:01 am by Rocky
» Iraq officially signs the “Singapore” agreement to resolve trade disputes
Today at 6:59 am by Rocky
» Parliament Finance advises raising exchange rates again... What about oil revenues?
Today at 6:55 am by Rocky
» Al-Sudani: Iraq is in the process of recovery and has taken its leading position that attracts work
Today at 6:54 am by Rocky
» Al-Araji: Iraq is prepared to deal with all circumstances and seeks partnership with the United Stat
Today at 6:52 am by Rocky
» Sudanese from Michigan: The government represents all components and is keen to take care of the aff
Today at 6:50 am by Rocky
» Democratic Party: The "new generation" is the most corrupt and has dozens of cases in court
Today at 6:47 am by Rocky
» What is the benefit of Iraq establishing a petrochemical plant in Egypt?!.. An oil expert explains
Today at 6:46 am by Rocky
» A judicial delegation participates in the Permanent International Forum for Commercial Courts in Qat
Today at 6:43 am by Rocky
» Al-Sudani: The government follows a balanced policy that makes Iraq a station for security
Today at 6:42 am by Rocky
» Deduction of 160 million dinars from the salaries of MPs absent from Parliament sessions
Today at 6:40 am by Rocky
» Central Bank: Washington praised Iraq's measures to resolve 80% of the financial transfer file
Today at 5:13 am by Rocky
» Voices of Resilience: Al-Sudani’s frankness embarrasses the White House
Today at 5:12 am by Rocky
» Al-Alaq confirms the formation of a committee between Baghdad and Washington regarding sanctions on
Today at 5:10 am by Rocky
» Former MP: The Democrat will not hand over power after the regional elections
Today at 5:07 am by Rocky
» Document/allocation of 20% of the lands of Al-Jawahiri Complex to employees of the Ministry of Defen
Today at 5:06 am by Rocky
» Al-Hakim: Al-Sudani’s visit to Washington was a protocol and missed the two most important files
Today at 5:05 am by Rocky
» Parliamentary Security: The National Security Service law will be voted on by Parliament soon
Today at 5:04 am by Rocky
» Reconstruction and Housing: Zarbatieh residential project completed by 82%
Today at 5:01 am by Rocky
» Al-Sudani reveals an intention to establish Al-Faw refinery with a capacity of 300 thousand barrels
Today at 5:00 am by Rocky
» Government readiness to move the Doura refinery to an alternative location.. What are the conditions
Today at 4:59 am by Rocky
» Al-Sudani’s visit to Washington.. Implications and results
Today at 4:56 am by Rocky
» Association of Iraqi Private Banks: The suspension of some electronic payment services yesterday was
Today at 4:55 am by Rocky
» Parliamentary memorandum.. Two solutions were before the Federal Court instead of removing the compo
Today at 4:53 am by Rocky
» Blue fuel... Iraqi steps towards inexhaustible wealth for a century
Today at 4:51 am by Rocky
» For fear of being "upset"... MPs "evade" signing to host Al-Sudani in Parliament
Today at 4:50 am by Rocky
» Al-Sudani’s statement to convert 40% of Iraq’s exports into derivatives.. What does it have to do wi
Today at 4:48 am by Rocky
» An Iraqi-American partnership to benefit from oil field gas
Today at 4:46 am by Rocky
» The Minister of Commerce announces the distribution of the first payments of farmers’ dues for the 2
Today at 4:45 am by Rocky
» Sudanese to members of the Iraqi community in the American city of Houston: Iraq has regained its he
Today at 4:43 am by Rocky
» Romanski announces loans worth $50 million to support the Iraqi private sector
Today at 4:42 am by Rocky
» Prime Minister: We plan to invest production capacities for export
Today at 4:41 am by Rocky
» “Something happened” in Iran and no one is talking about Iraq and Syria. This is what we have so far
Today at 4:38 am by Rocky
» Al-Sudani asks the American Baker Institute for assistance in preparing studies related to the oil m
Today at 4:36 am by Rocky
» The Interior Ministry denies the occurrence of explosions inside Iraqi territory and diagnoses “the
Today at 4:35 am by Rocky
» Tensions between Najaf and Baghdad over the airport... the rule of law over “military force” and the
Today at 4:34 am by Rocky
» Al-Sudani from Washington: We agreed with Abu Dhabi on joint management of Al-Faw Port
Today at 4:33 am by Rocky
» "Al-Party" talks about the region's elections and reveals the reason for refusing to pay salaries di
Today at 4:31 am by Rocky
» Russia's oil is taking more of the Middle East's shares in the Indian market.. How much has Iraq los
Today at 4:29 am by Rocky
» Early next month.. Traffic confirms that the electronic payment system is working only
Today at 4:27 am by Rocky
» The Service Council accuses state departments of refraining from disbursing bonuses because of the m
Today at 4:25 am by Rocky
» Electricity: The Baghdad street lighting campaign will be completed before the middle of this year
Today at 4:24 am by Rocky
» Oil poses two conditions for moving the Doura refinery to an alternative location
Today at 4:23 am by Rocky
» The Foreign Minister reveals the truth about his resignation and the reason for his departure to Erb
Today at 4:22 am by Rocky
» Progress: Al-Halbousi’s acquittal has become conclusive, and his return to the presidency of Parliam
Today at 4:20 am by Rocky
» Disagreements strike Al-Maliki's coalition over choosing the governor of Diyala
Today at 4:19 am by Rocky
» The Union accuses Türkiye of exploiting the political situation for a ground incursion into Iraq
Today at 4:18 am by Rocky
» The Democratic Party: Barzani is eagerly awaiting the results of Al-Sudani’s visit to Washington
Today at 4:17 am by Rocky
» Frame: Al-Halbousi in the news and his return has become a pipe dream
Today at 4:16 am by Rocky
» A parliamentary request to capitalize on Erdogan’s visit to Baghdad to end the water crisis
Today at 4:15 am by Rocky
» Al-Sudani urges the US corporation Honeywell to help finish the Basra refinery
Yesterday at 2:48 pm by Rocky
» Al-Sudani Meets with Representatives of Western Media Outlets in Washington
Yesterday at 2:46 pm by Rocky
» Chairman of the Investment Authority signs the United Nations Convention on International Mediation
Yesterday at 2:44 pm by Rocky
» PM: We will sign a contract to establish the Al-Faw refinery with a Chinese company
Yesterday at 2:42 pm by Rocky
» PM arrives in Houston as part of his visit to USA
Yesterday at 2:41 pm by Rocky
» Militia Man & Crew 4/18/24 Bush signed it and all presidents implemented it. Iraq’s funds have been
Yesterday at 1:46 pm by Rocky
» Iraq is close to launching the electronic signature
Yesterday at 7:12 am by Rocky
» The Basra government discusses with an international oil company the implementation of social benefi
Yesterday at 7:11 am by Rocky
» The Prime Minister confirms to an American company: Gas projects in Iraq are a priority for the gove
Yesterday at 7:10 am by Rocky
» The Minister of Planning discusses with the World Bank mechanisms for scheduling external loans
Yesterday at 7:09 am by Rocky
» Oil sets the twenty-seventh of this month as the date for opening contracts for the fifth complement
Yesterday at 7:08 am by Rocky
» “Electronic begging”...professionalism and fabrication of stories” generates millions of dinars dail
Yesterday at 7:05 am by Rocky
» Al-Sudani calls on the American company Hanwell to contribute to the completion of the Basra refiner
Yesterday at 7:03 am by Rocky
» An American company expresses its willingness to establish LED lighting production lines in Iraq
Yesterday at 7:02 am by Rocky
» Including Iraq.. Iran announces the possibility of exporting 300 megawatts of “renewable electricity
Yesterday at 7:01 am by Rocky
» Political forces present two options to find an alternative to Al-Halbousi
Yesterday at 6:58 am by Rocky
» Parliament is awaiting the arrival of the budget schedules and the government is studying higher spe
Yesterday at 6:56 am by Rocky
» The International Monetary Fund adjusts its expectations for the development of the world’s economie
Yesterday at 6:54 am by Rocky
» A representative talks about the difficulty of finalizing the file of “electing the Speaker of Parli
Yesterday at 6:50 am by Rocky
» Work on preparing a law for diplomatic passports
Yesterday at 6:49 am by Rocky
» A female representative accuses the Ministry of Immigration of corruption
Yesterday at 6:47 am by Rocky
» Minister: Solving the Kurdistan salaries problem is the beginning of addressing other disputes betwe
Yesterday at 6:45 am by Rocky
» About 270 million dollars were sold by the Central Bank of Iraq in the currency auction
Yesterday at 6:42 am by Rocky
» The volume of trade exchange between Jordan and Iraq will exceed 800 million dinars in 2023
Yesterday at 6:41 am by Rocky
» Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an
Yesterday at 5:31 am by Rocky
» The American company that manufactures the F16 expresses its readiness to implement the terms of con
Yesterday at 5:30 am by Rocky
» The volume of expected Qatari investments for the Iraq Fund for Development exceeds $3.5 billion
Yesterday at 5:29 am by Rocky
» Decrease in dollar prices in Baghdad and Erbil
Yesterday at 5:27 am by Rocky
» The President of the Region brings together the Kurdish parties to resolve the election file
Yesterday at 5:26 am by Rocky
» Al-Sudani receives in Washington the Chairman of JPMorgan
Yesterday at 5:25 am by Rocky
» Transport is starting to transform its ports into smart ones
Yesterday at 5:23 am by Rocky
» Sudanese reveals the volume of exchange with America
Yesterday at 5:22 am by Rocky
» "Al-Eqtisad News" publishes the memorandums of understanding signed between the Iraqi delegation and
Yesterday at 5:21 am by Rocky
» Al-Sudani urges an American company to contribute to establishing a chemical materials factory
Yesterday at 5:20 am by Rocky
» Iraq stresses the importance of Lockheed Martin's commitment to opening military aircraft maintenanc
Yesterday at 5:19 am by Rocky
» Iraq is on the verge of a “water disaster” by 2035
Yesterday at 5:18 am by Rocky
» Great satisfaction and optimism with the results of Sudanese’s visit to Washington
Yesterday at 5:16 am by Rocky
» Transport is beginning to adopt a plan to transform its ports into smart ones
Yesterday at 5:15 am by Rocky
» Completed 8,000 loan transactions at the Housing Bank
Yesterday at 5:14 am by Rocky
» Prime Minister: We plan to invest production capacities for export
Yesterday at 5:12 am by Rocky
» Transformation and partnership...a new horizon in Iraqi-American relations
Yesterday at 5:10 am by Rocky
» What is new in the economic dimension of the Washington visit?
Yesterday at 5:09 am by Rocky
» Two letters to the future
Yesterday at 5:08 am by Rocky
» National interests first
Yesterday at 5:06 am by Rocky
» Iraqi-American rapprochement...a national necessity
Yesterday at 5:05 am by Rocky