Iraqi bank capital increase will contribute to the development of the economy

Iraqi bank capital increase will contribute to the development of the economy

28/07/2013




Times the CBI which is solely responsible for the movement of Iraq's banking sector banking sector raise capital funds to more than 250 billion as a condition for responding to the requirements of reconstruction and development. economic analyst, said Abdulrahman Al-Mashhadani to increase the capital of banks (governmental or private) will help develop the Iraqi banking sector and increased banking services that makeH. said Mashhadani to increase capital banks are necessary and important because Iraqi banks still very little capital relative to the neighboring banks, as Jordan's Arab Bank budget three times the budget of the Jordanian Government, so we must work to increase the capital of State-owned banks to increase banking services provided to citizens, adding that private banks (private) and inIraq with little capital but good and Rafidain Bank and the Trade Bank of Iraq is of great capital as a result of the size of their banking inside and outside Iraq, noting that the real problem in the banking sector are increasing banks ' capital has never been through the deposits are placed within banks and earnings achieved but does not have the courage to submit banking llmwatNin, so that even if bank capital increase banking sector will remain what it. and, that all banks increase their capital this year to 250 billion Iraqi dinars, but despite this anticipated increase a few banking remain. ", concerned with economic and banking sector is optimistic about further capital unless accompanied by an objective study of the development of the granting of banking. in view of aEconomic analyst Hatim albwati, the economic process in Iraq is determined by three main factors: first the capital increase because it will contribute to the development of the economy in Iraq and develop its banking sector, adding that the capital increase of albwati and raw materials as well as labour would these three factors on the development of the economy and bank sector, the Iraqi economy is lack of capital. He said the PMA provide an increase in capital in the Bank will increase loans will benefit agricultural and industrial entrepreneurs and companies, so that the most important Iraqi economy is the lack of Government or banks capital. He noted that the Government should work to increase the capital of banks in order to increase the banking services provided to citizens. economic analyst told maytham winfred, the most important processes that lead toIncrease funding for companies and projects is to increase the capital of banks financed through loans and banking services that are offered. winfred, banks in Iraq doesn't have a big incentive to finance projects and private companies, and over the work of these banks are businesses, through the purchase of adapters as well as the financing of companies operating in the commercial sector, however, this topic has no real contribution to increase strategicForeign and local fruits in Iraq, adding that Iraqi banks operate according to market economy and are looking for a profit, as they are looking for areas that have the most profit and less risk for investment, noting that there are structural factors that inhibit the movement of capital in the banks and therefore increase capital investments in Iraq., the banking system in Iraq encountered many obstacles that still works with administrative methods far from primitive technological development World Bank , As well as the non-use of modern banking that payment to leave Iraq as the world's banking sector. Limited activity Said former Central Bank Deputy Governor Mohammad Saleh appearance that if banks increase their capital will help the Government to implement investment projects through cash or credit loan and said that the number of very large private banks reached more than 37 banks, but financial activity is still limited and did not represent either (10%) Of market activity in Iraq that dominated by State banks in the disbursement of funds for the purpose of implementing projects, adding that the capital Government is too big and is dependent on oil revenues, which are very high amounts of cash, and continued, that the big banks more capital have better credit and loans. Increase profitability Announced the Trade Bank of Iraq achieve active ahead 2012 through operational capacity has been developing its activity and development in the overall banking operations. the Director-General stressed the Bank hamdiya Mahmoud dry Bank activities for 2012 was a qualitative leap in the level of the banking process through the operational capacity of the staff of the Bank that his ROI increase profits in 2011 by 34% in the amount of $ 488 million. the increase profitability won a set of profiles for the operation of documentary credits, banking letters Insurance, credit, credit cards, which have seen the progress in the level of activity in 2012. and dry that the expenses were of 2012 decreased by almost 40% from last year despite an increase in the Bank's staff to fill vacant posts but that addition in staff had no impact on operating expenses, indicating that all the achievement comes from dedication and efforts by the Bank andSeeking to show the Trade Bank of Iraq as it aims at banking. dry said that the steps established in 2012 check them to open branches in Baghdad and the provinces work continues for the next year only at home or abroad in order to expand the work entrusted the Bank. the Bank's capital increase to trillion dinars also contributed to achieve success and progress in expanding banking network for the Trade Bank of Iraq.Lower interest rates Director General Mohammed Abdel Wahab Industrial Bank increased bank capital from the General State budget for up to 175 billion dinars in support of advancing the industry. in the Ministry of Finance has decided to reduce interest rates to 9 percent for industrial projects. Abdul Kadir said: the Bank has got through the general budget to $ 50 billion to increase the Bank's capital to 175 billion dinars after last year's 125 billion dinars, indicating that the Bank received bank capital increase by 50 billion dinars over the past three years 2010.20112012 Abdel Wahab, the Bank proceeded with the launch of industrial loans of various types that were allocated 33 billion JD combineThe credit Bank plan to the year 2013 to launch industrial projects supported through financial loans to assist in the advancement of national industry and 50% of the value of real estate provided as collateral for industrial projects, indicating that the Bank obtained the agreement of the Ministry of finance to reduce interest rates on industrial projects to 9% instead of 10%. He noted that the Government had taken steps to promote the industrial sector by increasing its capital to lend to industrialists to do small, medium or big to be the beneficiary of the loans obtained the identity of industrial development or the Iraqi Federation of industries. the loans granted to the beneficiary in his bank account and fetch all official documents and leave the building with specify type of industrial activity and mortgage guarantees, whether residential or commercial, industrial, adding that the industry has the right to receive Three types of loans at once whether to build or buy machines or buy raw materials. Pointing out that the industry has the right to obtain three types of loans at once whether to build or buy machines or buy raw materials.




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