Economic parliamentary: the work of banks weak and not in line with the country'

Economic parliamentary: the work of banks weak and not in line with the country's economic growth


26/03/2013 (00:01 pm)





 Baghdad / Mustafa worship
Witnessing government and private banks in the country considerable confusion in their work as a result of the lack of a strategic plan of the government, where some officials confirmed in those banks that if the situation continues as it is now, those the banks Stdmahl and then fade.
Download a member of the Economic Committee in the House of Representatives Abdul Hussein Abtan "the central government responsible for the mismanagement of the country's economic," asserting that "the absence of the government's economic vision reflected negatively on all institutions, private banks and local banks."
He Abtan in contact interview with (long) that "the Iraqi banks need to rise and wide are very weak and not in line with the country's economic growth, especially those affiliated to the bank Rafidain and Rasheed, note that it has billions of dollars," adding that "the strength of the Iraqi economy is supposed to show "Valmoisna the country's public and described Palanfjaria. called Abtan that" there is a role of the President of the local banks in the process of reconstruction and construction and management of monetary policy in the country, "stressing that" the Iraqi banks embracing billions of dollars in buildings is very backward. "
And a member of the Economic Committee concluded his speech by saying, "The government should establish a management plan for monetary and fiscal policy and coordination between them with all other economic areas." For his part, Chairman of the Bank of the economy Hossam Obaid Ali said that "the government's confidence in civil shaky banks.
He added that "private banks reluctant There are no real products to banking," noting "that the central bank issued a decree stating halving the proportion of sums foreign currency granted to banks 5 million to a million dollars, and this policy does not serve the country in general and private banks in particular."
Responded to a question about the high price of the dollar in the market, saying: "The exchange rate will rise significant is the continuation of what remains of the Central Bank is going according to these procedures, they do not have experience in the banking industry," warning of a "crisis may threaten the Iraqi market ".
And the entry of foreign banks to invest in the country, said Bank Chairman economy that "as long as there is such thing as the seventh item, as well as the existence of the Trade Bank of Iraq (TBI), the foreign banks can not operate in Iraq."
For his part, the member of the Committee of Economy and Investment National Bloc MP for white Aziz al-Mayahi, the need for Iraq to foreign banks of an investment nature to support the investment process in the country, describing the local banks 'shops' that work limited to bid farewell to the money.
Mayahi said in a statement yesterday: The Iraqi environment need sophisticated foreign banks with high capital and be of an investment nature of the support of the investment process and economic development in the country.
"There difficulty dealing banking that the Iraqi banking sector underdeveloped and most banks have become more like 'shops' business that sells goods and then close them, pointing out that most of the Iraqi banks limited their work to bid farewell to the money and selling foreign currency, they need to issue letters of guarantee to attract investors to invest in the country.





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