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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


    Private Bank acquires auction currency with good and poor participation of Mesopotamia

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

    Private Bank acquires auction currency with good and poor participation of Mesopotamia Empty Private Bank acquires auction currency with good and poor participation of Mesopotamia

    Post by Hkp1 Tue 16 Jul 2013, 9:11 pm

    13/07/17


    Private Bank acquires auction currency with good and poor participation of Mesopotamia


    Baghdad Adel saffar

    The Association of private banks said that the efficiency of banks and their remittances helped it progress on the State banks at an auction sale of foreign currency, called the Finance Committee in the House of Rafidain and Rasheed Bank to expand their dealings with the auction sale of the daily currency, noting that private banks accounts for 80% of the auction sale of daily currency

    While the expected "sansar capital specialized in asset management in the developing countries, to achieve the Iraqi banking sector, significant growth in assets and earnings during the next decade.

    Executive Director of the Association of private banks Abdelaziz goldfinch: Central Bank Auction window opening to all private and Government-approved banks at a time when State banks have shown their inability in this area and have not been able to make transfers abroad because she was under Chapter VII, so I gave the largest share of private banks possessing wide latitude in foreign transactions.

    Finch said in a statement with the "range": Government banks must take part in an auction that currency after Iraq from Chapter VII thus appeared to play an important role in this area in order to not only monopolized private banks to operate, although the latter has a broader and better ports as well as advanced systems that lack banks.

    The Committee Member said in a press statement, Secretary Hadi: "private banks accounts for 80% of the auction sale of foreign currency at the Central Bank of Iraq, while still good, Rafidain Bank were in the auction sale of the currency very poorly."

    Hadi said "we let in more banks to engage in the auction sale of the daily currency of the Central Bank of Iraq they have several branches in the provinces, and by their hearts can distribute a greater amount of hard currency in the provinces to end state control of the dollar by some private banks or small businesses.

    He said the Committee had not seen up to now on the real reasons behind the reluctance of banks to engage in the auction sale of currency even though it is an additional financial impact on banks.

    "The fear of the question to deal in dollars or adjust the selling may be one of the main reasons behind the reluctance of the banks to accept the auction sale of the currency as in private banks."

    The expected "sansar capital specialized in asset management in the developing countries, to achieve the Iraqi banking sector, significant growth in assets and earnings over the next decade, based on many factors, including massive economic environment and strong, and the proliferation of credit, improve the security situation in the State.

    The new report on the banking sector in Iraq issued by the company with the International Monetary Fund forecast GDP growth in Iraq at a rate of 9% this year, is expected to keep the banking sector, in particular in the level of steady growth over the next few years, the report noted the role of the further spread of credit growth of the banking sector.

    In this regard, I highlighted the World Bank's study, which said that Iraqi domestic credit is linked to GDP remained constant at 9% of GDP by the end of 2011, compared with 55% of the average GDP in the Middle East and North Africa.

    It also saw domestic credit associated with the gross domestic product (GDP) grew by approximately 89% compound annual growth rate in the period from 2009 to 2011.


    According to the data released by the Central Bank, the cash credit, such as loans and overdrafts rose significantly by a compound annual growth rate of up to 50% between 2006 and 2011.

    The report analyzes in detail the private banking sector in Iraq, by highlighting the five largest private banks in terms of deposits.

    The report shows that, as a result of support from the strong economic growth and higher credit spread, these five banks have developed in total net income at a rate of 80% during the years 2010-2012.

    The policy of not tightening effect on the increase of capital, resulting in lower profit growth per share, though it still has a strong position, along with the growth of stock profits to 111% over the period from 2010 to 2012.

    The report explores the unusual property of the Iraqi market, the image of banks with the highest returns for shareholders and growth rates, you purchase goods with less complications, and that's what makes sansar capital considers that it demonstrated the inefficiency of the market that offers the opportunity for interested individuals.

    It also highlights the financial conditions of Iraqi banks, shows the high profits of shareholders proceeds rates in Iraqi banks significantly, according to the figures, which some banks approached 60%.

    Despite strong growth, however, Iraqi banks will have to overcome some significant challenges, if they continue on the path of growth pace as distinct in the past five years.


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