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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Global financial institution: banks Iraq government powerless with it acquires 91% of filings

    Hkp1
    Hkp1
    Hkp1
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    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    Global financial institution: banks Iraq government powerless with it acquires 91% of filings Empty Global financial institution: banks Iraq government powerless with it acquires 91% of filings

    Post by Hkp1 Mon 03 Jun 2013, 1:43 pm

    Global financial institution: banks Iraq government powerless with it acquires 91% of filings



    03-06-2013 | (Voice of Iraq) - Add a comment -
    Range Press / Baghdad

    Revealed
    Foundation Singaporean money management, said Monday that the five
    private banks in Iraq has achieved total profit than the 207 percent
    during the past three two, while expected to continue that sector
    profitability and growth in capital over the next decade, despite the
    difficult business in Iraq, called Iraqi banks because "overcome some of
    the challenges" to continue its increasing growth. "

    Foundation
    said Sansar Sansar Singapore Capital Management, which is "the biggest
    investor" in Iraq, in its report, reported on (Global Finance) of the
    Economic News, today, and seen (long-Presse) on it, "The top five banks,
    non-governmental organizations in Iraq reaped through period from 2010
    to 2012, doubled its profits to 207 percent thanks to strong economic
    growth of the country with the increase in the demand for bank credit,
    "pointing out that such" private banks, is north of Baghdad, the Middle
    East Iraqi investment, Kurdistan International Bank (Islamic bank) and
    Dar es Salaam Investment, which owns the British HSBC investment company
    70 percent of its shares. "

    She Sansar, in its report, that with
    "the growth of oil production, also increased the growth rate of the
    gross domestic product of Iraq GDP", indicating that "the IMF is
    expected to increase the growth rate of nine percent during the year
    2013 the current, having been increased by 8.4 percent in past the year
    2012. "

    According to the Foundation in its report that in
    exchange for that growth, "the government banks seven in Iraq accounts
    for 91 percent of deposits," afterthought "but suffered disability
    because of bad loans granted by, as has been restructured largest banks
    government in the country and are Rafidain and Rasheed, with the
    assistance from the World Bank. "

    The report quoted the Director
    General of the Foundation Sansar Singapore, Sanji موتواني, saying that
    "GDP growth for Iraq and the revenues of the banking sector are going
    parallel to the improved security situation," but he assured that "rates
    of violence in Chicago than rates Iraqi regard to crimes of murder
    everyday."

    The report also said that despite the "survival of
    Iraq as a place difficult to do business, the banking sector future over
    the next decade to make profits and growth in the capital," noting that
    "based on the information the World Bank appropriations local in Iraq
    accounted for nine percent of all the growth rate of its output,
    compared to 55 percent in the other countries of the Middle East and
    North Africa, and more than 80 percent of Iraqis do not have bank
    accounts, and there are ATMs and one ATM for every 100 thousand Iraqis. "

    It
    concluded Foundation Sansar Singapore, that "there is a negative
    relationship between the cumulative value of speculative rates and
    increase the value of traditional, such as those related to economic
    growth and returns as equal," and attributed this to "double the
    efficiency of the market, for reasons of lack companies to analyze the
    economic basis", however, had this " things are expected to go away. "

    Stressed
    institution on the need to "overcome Iraqi banks some of the challenges
    to continue their growth increasing," and that these "challenges by
    deposits, which is spotty and uneven," explaining that "the government
    projects are prohibited from developing ايداعاتها in private banks,"
    according to the website (Global Finance) always.

    It is
    noteworthy that the Association of private banks in Iraq, reported in
    (the fourth of January 2013), the number of private banks in Iraq
    reached 32 banks in two decades, in addition to increasing the number of
    branches in Iraq to more than 500 branches and assets of these banks
    amounted to more than 12 trillion Iraqi dinars, as the volume of
    deposits in which eight trillion dinars, and arrived credit cash in
    which a total of three trillion and six billion dinars, while reached
    the capital of these banks and their reserves to three trillion and
    three billion Iraqi dinars, and that the total profits of these banks
    exceeded 477 billion dinars.

    The study estimated that the local
    banks' capital amounted to government until the end of October of the
    previous year 2012, a total of 754 billion dinars, compared with more
    than four billion dinars for private banks, and investment balances in
    banks operating in Iraq recorded until 31.10.2012, an amount
    approximately six billion dinars (5.947), and the share of government
    banks, including 4.929 billion dinars, compared with 1.018 billion
    dinars for private banks.

    The bankers and economies, Iraqis
    carried in the (15 May 2013), the Ministry of Finance and the Central
    Bank of Iraq responsible for the decline and the reality of domestic
    private banks, while the latter accused of encouraging Arab and Iranian
    banks at the expense of Iraq.

    The International Monetary Fund
    said in a report issued in (the 21 of March 2013), after the end of
    consultations in the Jordanian capital Amman, between a delegation from
    the Fund and an Iraqi delegation headed by the Minister of Planning Ali
    Shukri, and seen by (the long-Presse), that the improvement occurred in
    the financial sector , but he stressed that he still needs a "greater
    efforts by the central bank in the revision of monetary policy tools and
    strengthen banking supervision, and to accelerate the restructuring of
    the banking system."

    The International Monetary Fund called the
    Iraqi Central Bank to take measures to gradually towards the
    liberalization of foreign exchange through auctions held by the Bank so
    as not to repeat disorders suffered by the financial market in the past
    year.

    UNFPA emphasized that "the establishment of a banking
    system nationalist requires abandoning the current model, which is
    controlled in which weak banks owned by the state, which enjoys
    preferential treatment apart from private banks," calling on Iraq to do
    to strengthen its institutions, public finance to ensure efficiency and
    transparency in the use of oil revenues. "

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