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And Vice experts: local banks are able to finance development projects develop its condition

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rocky
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And Vice experts: local banks are able to finance development projects develop its condition

Post by rocky on Sun 02 Jun 2013, 9:39 am

And Vice experts: local banks are able to finance development projects develop its condition




02-06-2013 01:04 PM


Baghdad (news) / report / Hussein Faleh / .. Despite the large number of local banks, both public and private, but its contribution to the economic development process of the country is weak, and the reason for this, according to experts and specialists to the lack of mutual trust between government institutions and private banks, in addition to the absence of controls that give bank guarantees from those departments that borrow money for the implementation of their projects.

A number of MPs and specialists in the field of banking (of the Agency news) that local banks are able to finance development projects, as it has capital high and some of them have achieved fiscal surpluses in annual profits, but only if renovation work according to the technological global banking and the issuance of new regulations governing its business.

Vice-Chairman of the Finance Committee MP / coalition of Kurdish blocs / Ahmed iceberg God, he said: that the Iraqi banking system needs to develop his work through the introduction of modern systems and training of cadres in accordance with developments in global banks.

He said (of the Agency news): The majority of private banks have lost confidence بجمهورها and therefore the impact on the size of their capital through the withdrawal of deposits them, because there is no real monitoring and control by the central bank on it.

He points out that Iraqi banks rely on deposits to increase the size of its capital.

Faizullah said: that the central bank demands to issue new regulations for the work of private banks for the purpose of supporting and encouraging citizens to bid farewell to their money to contribute to the development process through its funding for development projects in the country.

The Executive Director of the Association of private banks Abdul Aziz Hassoun, stressed on the ability of private banks to contribute to the financing of investment projects and development of the country, noting that most banks achieved an annual financial surpluses could be exploited in the implementation of many projects of the country.

Hassoun said (of the Agency news): that government institutions to Discourage private banks to contribute to the financing of projects, but prefers to deal with state-owned banks, and this is what impact heavily on the work of private banks.

It is noted that some private banks announced earlier for bankruptcy as the Warka bank, which made some government departments are afraid of dealing with local banks.

As chairman of the Bank of the economy said earlier: that some banks abused for the work of private banks and affected internal and external reputation and after manipulation with depositors' money and declare bankruptcy.

The bank was the Iraqi Central Bank held an economic seminar with global companies Microsoft and palm leaves company specialized electronic and Information Technology, about the possibility of the development of the Iraqi banking sector with the latest global systems, two companies have expressed their readiness to enter the banking sector for the purpose of development work.

For his part, the Director General of the Department of Information Technology at the Central Bank Amer Faisal Shahir, that the Iraqi banking system needs to restructure and develop بكوادره, indicating that the central bank past developed through negotiations with the company Mirchosov world through the use of banking software the most advanced in the world.

Shaher said (of the Agency news): The central bank is trying to get rid of unlicensed copies of programs used by some Iraqi banks, for the purpose that all copies are licensed in all areas of the development of Information Technology in the banking system.

He added: Snmhl some banks or banking companies that use these copies is licensed by the Bank of a certain period and thereafter, will be the formation of a committee by the central inspection of all banks and banking companies around copies of the software used, and will impose fines on organizations that use these copies, so as to control the the development of the banking system in the country.

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank Ahli including (7) Islamic banks in addition to (6) of foreign banks. / End / 8.'s .

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