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Theft of state banks and the bankruptcy of the banks pay a lot of civil Baghdadis to save their mone


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Theft of state banks and the bankruptcy of the banks pay a lot of civil Baghdadis to save their mone

Post by rocky on Mon 24 Mar 2014, 6:03 am

Theft of state banks and the bankruptcy of the banks pay a lot of civil Baghdadis to save their money at home Theft of state banks and the bankruptcy of the banks pay a lot of civil Baghdadis to save their money at home

News Source:Haider Ali Jawad

Salah retains a glorious, owner of a shop selling electrical materials in Shorja, central Baghdad, their money at home and refuse deposited in the banks, which lost the previous Its experience in which a large sum of money after the bank went bankrupt, which was filed by his money is paid to it.

Salah put a large sum in Warka Bank Ahli, and when the bank went bankrupt two years ago lost all his money and recovered 20 per cent only.

CBI has already put the custody of the Warka Bank is not justified and the commitment of the bank to raise capital controls and other reasons involving money transfer. A month ago, the central bank announced to raise his tutelage, but the bank refused to bow to the decision because of the great loss suffered by the applicant for compensation.

Khalid Wasti, a teacher at the University of Baghdad, it's another story with saving money in banks. He says, "A year ago I decided to put my money in a bank of good government for not Odaaha because of armed robberies that have sprung up in time in our region, located in Rusafa of Baghdad, and already went to a branch of the Rasheed Bank, which I thought at the time that it would be safer than private banks for its association with the government. "

He adds, "After putting my money in that section I went back three months later to withdraw part of the amount was shown to me then that the employee made a mistake and wrote in the official papers that the deposited amount is three million instead of thirty million, and months later they told me that they conducted an inventory of all assets and discovered an increase 20 million and lost because of that ten million dinars. "

Ministry of Finance, which oversees the state-owned banks, including Rafidain and Rasheed, says that there are indications of a real reluctance of some citizens for their money in savings banks branches for different reasons.

Fadel prophet, and Deputy Minister of Finance, said the site "Talk" story, that the occurrence of a number of cases of theft of some state-owned banks as well as the bankruptcy of some private banks caused the reluctance of Baghdad residents to deposit their money in banks.

Finance Committee in the House of Representatives confirmed that it is seeking to enact a law that protects citizens' funds deposited in different banks. Says Magda al-Tamimi, a member of the Committee, the site news, the Finance Committee has not only the stability of the banks financially, but trying to push the development of these banks, whether civil or government by increasing their capital that comes from the Ministries of State and its various institutions as well as the deposits of citizens.

Tamimi and showed that in the case of enactment of the law, there will be the confidence of the citizen to put his money in the banks without fear, but will invest the funds within the projects and investment banks to take advantage of its benefits.

Some bank managers welcomed the step being the parliamentary Finance Committee will help the banks, especially civil ones to raise their capital and participate in a variety of economic processes.

He says reformer Waeli, Managing Director of the North Bank for Finance and Investment, a private bank, said that the proposal of the Finance Committee met the parliamentary support of most of the private banks because of the volume of interest to both parties.

"It must include this step some mechanisms such as the establishment of a private insurance company with a capital contribution of a large mission guarantor of citizens' deposits in banks will guarantee the company in case of any problem to compensate the citizen without going into the details of the problem."

Sabri al-Khalidi, an economist, said that the legislation of any law, whether to protect the deposits or other must go towards the private sector at the same time be a factor insurance exists to support the process in order not to occur cons in this area.

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