Saleh: The steady drumbeat of capital boosts banking activity

19/10/2017 0:00

Referendum transfer of public departments to Baghdad

BAGHDAD / Hussein Tgb

The consequences of the referendum in Kurdistan took their effects are expanding economically to be the share of the financial sector a large, where you find the capital move without prior warning to Baghdad, accompanied by public administrations to banks researcher for safety and stability, and most recently the Bank of Mosul, who was the general of his administration to Baghdad in a move to start a new phase.

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh said the "morning" , commenting on the transfer of funds and the General Administration of the Bank of Mosul from Kurdistan to Baghdad: " The banks operate in a stable environment, and to get a state of confusion and lack of expected stability in Kurdistan led to the flight of capital, especially financial capital (departments the public)".

He noted that " the money to Baghdad , a steady drumbeat of public administrations would boost financial activity." Safe haven and noted the benefit that " the work of banks requires a stable working environment, and the feet of the region to hold a referendum in a state of dissatisfaction of the regional ocean of Kurdistan, which in turn made banks re accounts and seek refuge safer and more moving activity work and thus tended to Baghdad , including bank management Mosul ". He stressed that " the transition process requires that there be obligations of the bank with the depositors and the owners of loans that can be accomplished by any other branch solutions." Money escape specialist financial affairs in Haider Punitive he said: " The banks are inherently looking for capital security for the expansion of activity work," pointing out that " the region is suffering now from the repercussions of the referendum is unconstitutional in more than economic detail, especially the financial sector , which has seen a big wave to escape the money meant mostly in the capital Baghdad, which makes it imperative for relevant authorities to find the perfect formulas to deal with these capital and provide safe havens for them. " Expansion of investment and drew punitive in an interview with the "morning" that " the transfer of the Bank of Mosul administration to Baghdad is a foregone conclusion for a number of economic losses suffered by the region because of the referendum is unconstitutional, adding that" the money and the departments of banks move to Baghdad comes to enhance the reality of the financial sector and it allows it to expand its investments in providing an opportunity to achieve the development goals established for it. " the informed sources have confirmed that the cluster of large cash moved from Kurdistan to Baghdad because of the referendum is unconstitutional, and deposited most of the money in the money companies in the hope of turning them into the banking system after it is To deal with them in accordance with legal contexts. Expand the activities of the President of the Board of the Bank of Mosul administration enable Abd Sarhan , he said in an interview with the "morning" that " the Central Bank granted the bank official approval for the transfer of public administration from Erbil to Baghdad, noting that" this conversion will allow the bank 's expansion of banking activities "he said, adding that" in the Baghdad area wider Bktaranh in Kurdistan, especially after the referendum is unconstitutional and accompanied him from the repercussions have affected the economic reality in all its sectors. " He added that "the reality of work in Baghdad is quite different, as a center for the launch of projects in the general areas of Iraq, and in turn recognize the importance of starting from Baghdad to expand laterally in all provinces gradually and offer the best banking products that are assigned to the economic development process sought by Iraq."