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Expert calls for the support of private banks


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Expert calls for the support of private banks

Post by rocky on Thu 12 Jun 2014, 5:56 am

Expert calls for the support of private banks

In order to access the country's economic development and the advancement of reconstruction, there must be a complete banking and sober responsibility to support investment, the Economist stressed that sanctions against banks may give negative signals to foreign investors in a stall, and that the environment is not formatted and chased it for investment.

The Central Bank has imposed a Trusteeship on the Bank's finance and investment ", since the Bank's financial deterioration and inability to meet its financial obligations due to errors and improper practices committed by the Bank and halting commitments towards its clients and the integrity of the banking and financial system in Iraq.

The Bank is a joint stock company and do not belong to one person and the action taken by the Central Bank to all shareholders, according to the Economist as beautiful, as explained for "morning" that all banks operating within the framework of the Iraqi economy and its irregularities occur, the Central Bank said that banks can be a warning and a guide for these banks that committed significant errors and repeated the following must take the necessary actions. But the beautiful preferred financial support 
rather than imposing Trusteeship on the Bank in question to avoid the collapse of other banks in the same conditions, saying: "in the year 2009 I met an official in the US Embassy in Iraq, asked how he supported State banks after economic crisis experienced by the United States in 2008 and affected most countries in the world, it (America) with free economy?, he replied that these amounts are the basis for these banks was raised through taxes on activity time and recovery And now serves as the lending of the retrieved double tax reduction and deterioration of the economy in the country. "

The u.s. Government has approved in October 2008 financial rescue plan worth 700 billion dollars to rid the banks of their assets for sale, the plan aims to ensure better protection of savings and estate, which belonged to the taxpayers, it also aims to protect property and promote economic growth and increase returns on investments. the expert suggested reconsideration of the subject by a specialist of the Central Bank, the Bank support the economy and return it to the market moderately with adjustments and changes in the management of the Bank And offering efficient elements for promoting it, especially that of well-known banks and effective activity, and the capital of many contributors some of the savings to employees or simple people hoping for extra income.

The Central Bank reluctant banks work through inventories of property and property of the Bank and is equal to the liabilities and obligations to creditors and depositors, if encouraging Central will support the Bank a deposit a certain amount of consistent development of shareholders and depositors of non stop liquidity and returned through the exercise of his activity or sale not owned, thus guaranteeing the rights of depositors and shareholders. beautiful finds that if the Bank either filtered and destiny closing or merging with another bank or a partnership with a foreign investor

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