Economist calls for the Central Bank to monitor the work of private banks and accounting of uncommit

Economist calls for the Central Bank to monitor the work of private banks and accounting of uncommitted laws in force

24/3/2018

Baghdad / Iraqi National News Agency / nina /:

back economic analyst haven secretary, the reasons for lack of citizen confidence in banks and civil not to provide banking services in full to its customers so attracted to the deposit and savings through the granting of loans and interest and other financial inducements and as is the case in international banks, calling Central Bank to private banks to monitor and check the progress of each year, with banks and non - compliant accounting laws in force.

The secretary of the Iraqi National News Agency / nina / that "most private banks in Iraq was created thanks to the presence of the currency auction, taken as a means to buy the currency from the central bank to obtain profits and gains due to the price difference between the official price of the dollar and its price in the market, therefore, of these priorities for action banks focus on the currency auction, and that customer service is a secondary work so, most of these banks do not pay attention to this service, and took them seriously , they kept in the range of primitive and backward services.

He added that "treated some of the private banks Ptaala with the customer led to the reluctance of citizens to deal, especially since some of these banks close their doors as you like without prior warning time and other offer impossible conditions for advances and lending, as well as cap - and - sessile withdrawals for savers , let alone treat some when banks deposit and withdrawal dollar deposit when dealing with the customer at the market price , and when the clouds are dealing with the central bank at a price that the customer presents to the loss of more than 3% of the value of their savings. "

He stressed the secretary, the Central Bank of private banks accounts audit and review of the services provided and make sure they follow the laws in force, and accounting or closure of banks that have not achieved rates of annual increase numbers of depositors and savers, with the development of new controls for participants in the auction currency and take strict measures to curb the import cooperation with the concerned authorities to prevent the leakage of the national currency. "

The secretary also called on private banks to spread culture among the citizens ' savings and encourage them to deposit their money through their services offered and benefits as well as financial inducements such as awards and tourist trips and other loans.