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Compactness and confidence in the banking system (Mohammed Saleh)


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Compactness and confidence in the banking system (Mohammed Saleh)

Post by rocky on Wed 30 Aug 2017, 4:39 pm

Compactness and confidence in the banking system (Mohammed Saleh)

Dr.. The appearance of Mohammed Saleh 198 2017-08-30

Still talk about aspects of compactness takes various dimensions in Iraq. Between compactness kind of gold or gold occupied (Almkhclat) jewelery, precious treasures, and between compactness Iraqi dinars, which represents the ratio of approximately 77% of the exported currency outside the Central Bank of Iraq as well as compactness foreign currency.

The national economy is losing one of its power to transfer factors that are supportive of savings income and production cycles to distressed leaks in the income cycle or weaken production opportunities and sustain economic activity. Here is the demand for money or forms of wealth like money only for hedging purposes or idiomatically called me -as replace the demand for cash for the purposes of unawareness uncertainty for the purposes of intervention theory and the role of risk assessment in the cash demand behavior.

Accordingly, the banking history of Iraq has witnessed during the past century phenomena swap gold paper currency by gold placed at the chapel or hostage moneylenders to meet usurious interest. As it helps the demand for money here through a guarantee of gold coins remove the official from the cycle of cash compacta leaks to the spending cycle and trigger economic activity, but market instruments are illegal. Thus, the demand for cash for the purpose of transactions, but the sessions are incomplete and income necessarily lead to real economic balance.

Modern Economic History of Iraq also witnessed particularly in the sixties of the last century, attempted to establish a government bank called Bank mortgages / alternative legal and formal phenomenon moneylenders and the general illegal market in the provision of guaranteed gold The mortgage bank cash loans do in providing cash loans to meet retention gold, which is in possession of the borrower to while the maturity date of the loan or payment in return for interest charged by mortgage bank to meet the operating costs and part of the risk of volatility of the value of the guarantee itself Almkhclat or gold coins occupied. But unfortunately it canceled the bank in the early seventies of the last century for reasons really knew nothing. And though banks remained on the quasi-banking relationship with mutual customers in the provision of some services. As banking or personal funds, banks fortified cabinets remained available to citizens and have used within each bank, especially government ones, especially Rafidain Bank and Rasheed). The citizen can be kept gold Bmkhclath and its assets and precious and important documents in those fortified Alqasat for a fee and safety by 100% to meet the monthly salary or an annual lump sum.

This positive phenomenon subsided not long ago, and they contribute to bringing citizens into the atmosphere of the bank or banking environment and the definition of their properties as a legal institution. In the absence of this service is honest and cut off one of the bonds of the link between the citizen and the bank as an entity maintains a wealth of society and spread a climate of direct links between individuals and banks.

Finally, we call on the Iraqi Central Bank to proceed with studying the granting of the license of the Bank of Iraqi mortgages (pledge of gold busy meeting cash), which boosts bank credit and converts the semiconductor storehouse of wealth to a guarantor in the generation of power demand for money for the purposes of transactions and support economic activity. He promised that one of the institutional channels to eliminate the phenomenon of compactness Bochaabah coins and other gold. As well as to maximize the atmosphere of trust between banks and Alahliyn to receive the gold Mkhclathm and other precious valuables in the coffers of the banks vulnerable to meet the wages of soft.

At the same time stressing the importance of actively deposit guarantee company that aspires audience soon to check on banking and Diath risk exposure of banks and failures start. As well as reducing the state of demand for liquid cash Kmoktnzac which is a function it is unstable (severe anxiety) and high correlation in the interpretation of the effect of uncertainty in the demand of individuals on cash liquid form (compactness) or quasi-money, and to prevent her husband cycle income and deprive the cycle of economic activity to fuel efficient article money.

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