Automatic teller machine in one Iraqi banks

Why not filed some Iraqis his money in banks?



Automatic teller machine in one Iraqi banks

26.07.2013

Many Iraqis still tends to keep his money and her firmness at home without recourse to banks and open a special account, despite the increasing number of private banks by the Government and established banks.

Recent decades have undermined the confidence of Iraqi citizens in the banking system the prestige to keep the money at home or transferred to other forms of value such as real estate or gold.

They believe that the political and security situation in Iraq during recent decades, wiggle the dinar price during a period of economic blockade, some lost confidence in Iraqi banks, which already suffered from weakness in the breadth and diversity of services, and lag.

With a limited relationship with the banks but Ahmed Samer from Sadr City in Baghdad feared bureaucratic nestled in most State institutions, which are associated with bribery even if our parting, and aims to open a bank account.

53 banks did not win the confidence of the majority of Iraqis

The number of banks in Iraq today 53 banks, including six state banks, Rafidain Bank and oldest, founded in 1941, although the Director of the Association recognizes private Iraq banks-Nasser Hassan, speaking to radio free Iraq weak banking and slow, low awareness in the citizens Bank overall, noting the lack of preparation with Iraqi banks compared with in all the neighbouring countries.

Professional notes that despite mounting signs of economic development in Iraq, does not record the banking sector developed is directly proportional to its services, which represents a major challenge for Iraq, according to a former agent of the Central Bank, Mohammad Saleh appearance.

Saleh said while talking to radio free Iraq as a positive development the Bank actually reinforced by the banking law that would allow the Iraqi banking and financial system opening to the global system through management agreements, and the development and automation of banking service, is what you need all Iraqi banks.

Global banks looking for an opportunity in Iraq

Recent weeks have seen remarkable global banks mobility such as Citibank and Standard Chartered, which wished to create activity in Iraq, through visits of large global enterprises leaders and meet senior Iraqi officials, but some feared that this desire collide several negative factors in the undergoing political and security tightening continued.

World Bank expects Iraq's economy to grow by 9 percent this year, compared with just over 2% of the world economy as a whole, last year Iraq has become the second largest oil producer in OPEC, pumping more than 3 million barrels of crude oil per day.

This optimism requires significant cooperation between the State and the private banking sector to face the accusations against the Central Bank and other banks, governmental or civil, according to economist Majid did not deny the symbolic failure of Iraqi banks to improve their services, and the need to develop staff and introduction of modern technologies in the world of banking.

Pending the improvement of services and develop efficient workers in the banking sector and attracting citizens keep Hussein Yassin from Baghdad's saydiyah reluctant to go to a bank to open an account and deposit money, radio free Iraq, acknowledging that he did not know the use of instruments, as well as it had not seen the use of bank credit card only in film and television.




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Why do not you deposit some money in Iraqi banks?

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Many Iraqis still tends to keep بنقوده and Aktnazha at home without resorting to the banks and the opening of a special account, despite the increasing number of private banks beside banks governmental Aeriqin-the Rafidain and Rasheed.

. I've shaken recent decades the Iraqi citizen's confidence in the banking system prestige to retain بنقوده in his house or converted into other forms of value such as real estate or gold.

They believe that the political and security situation in Iraq during the recent decades, and the fluctuation of the price of the dinar, especially during the economic blockade, rendered some confidence in Iraqi banks already suffering from the weakness in the breadth and diversity of services, تلكوء the proceedings.

With the limited relationship, but the banks Ahmed Samer from Baghdad's Sadr City, nestled in the bureaucracy feared most state institutions, which are associated with bribery, even if our friend purports to deposit his money and open a bank account.
53 banks did not earn the confidence of most Iraqis

The number of banks in Iraq today, 53 banks, including six state banks, the oldest and the Rafidain Bank, which was founded in 1941, and although it acknowledges director of the Association of Iraqi private banks ultra-Nasser Hassan in his interview with Radio Free Iraq, weak banking and تلكؤها, low banking awareness among Amoatunain generally, noting the small number of dealers with Iraqi banks compared with the case in all the neighboring countries.

Specialists notes that despite mounting signs of economic development in Iraq, does not record the banking sector is directly proportional development in services, which represents a major challenge for Iraq, according to former agent of the Central Bank the appearance of Mohammed Saleh.

Saleh said during his interview with Radio Free Iraq, a positive development in fact banking boosted by the Banking Act that would allow the banking system and the Iraqi financial openness to the global system through "management agreements", and the development of banking service and automation, which is what you need all Iraqi banks now.

International banks looking for an opportunity in Iraq
Recent weeks have seen a movement, pointing to international banks such as "Citibank" and "Standard Chartered" that have expressed their willingness to find opportunities for activity in Iraq, during the visits of the leaders of these global institutions large and meet them, Iraqi officials Rviein, but some feared that collide this desire by several factors negative in countries experiencing strained security policies and sustained.

World Bank expects to grow Iraq's economy by 9% this year, compared with slightly more than 2% of the global economy as a whole, and last year became Iraq's second-largest oil producer in OPEC, pumped now more than three million barrels of crude oil per day.

This optimism needs to be great cooperation between the state and the private banking sector to face charges that targeted the Central Bank and other banks governmental or civil According to the economic expert Majid picture, which did not deny the failure of Iraqi banks in upgrading its services, and the need for the development of staff and the introduction of modern technologies in the world of banking service .

Pending improve services and develop the efficiency of workers in the banking sector and attracted to the citizens remains Hussein Yassin Sedea Baghdad reluctant to go to a bank to open an account and deposit money, as he said to Radio Free Iraq, admitting that he did not know the use of instruments, as well as he had not seen on the mechanism of card use bank credit except in movies and television shows.



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