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An economist told Nina: Restructuring government banks will lead to dire economic consequences
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[rtl]Baghdad / NINA / - The expert in economic affairs, Raad Twij, confirmed that the restructuring of government banks, at the present time, is not in the interest of the Iraqi banking system and will negatively affect the country's economy.
Twigg said in a statement to the National Iraqi News Agency / NINA / that "the statement of the Governor of the Central Bank of Iraq that there is an intention to restructure government banks under the pretext that they acquire 80%, is not in favor of the Iraqi banking system, especially in light of the diminishing role of private banking activity.
And he stressed that "the restructuring of government banks such as Al-Rafidain and Al-Rasheed may lead to dire economic consequences, especially since the Iraqi public rarely deals with private banks by virtue of religious reality, and therefore the restructuring will work to cut Off currents of deposits and lending, and a decrease in cash flows and inflation of hoarding more, and therefore the structure of the Iraqi banking system has taken this form.
Twij called, to "adopt a wave of improving the performance of Iraqi banks by using governance, comprehensive banking, improving the quality of banking products, issuing banking magazines for Al-Rafidain and Al-Rasheed banks, which enhances the principle of transparency, strengthening the boards of directors of banks from academics, issuing a new law for banks and building more advanced internal systems.” .
The Governor of the Central Bank, Ali Al-Alaq, had announced earlier the bank's intention to restructure the government banks, Al-Rafidain and Al-Rasheed, because they acquire 80% of the Iraqi banking system./ End 8 To receive more news , subscribe to our channel on[/rtl]
Twigg said in a statement to the National Iraqi News Agency / NINA / that "the statement of the Governor of the Central Bank of Iraq that there is an intention to restructure government banks under the pretext that they acquire 80%, is not in favor of the Iraqi banking system, especially in light of the diminishing role of private banking activity.
And he stressed that "the restructuring of government banks such as Al-Rafidain and Al-Rasheed may lead to dire economic consequences, especially since the Iraqi public rarely deals with private banks by virtue of religious reality, and therefore the restructuring will work to cut Off currents of deposits and lending, and a decrease in cash flows and inflation of hoarding more, and therefore the structure of the Iraqi banking system has taken this form.
Twij called, to "adopt a wave of improving the performance of Iraqi banks by using governance, comprehensive banking, improving the quality of banking products, issuing banking magazines for Al-Rafidain and Al-Rasheed banks, which enhances the principle of transparency, strengthening the boards of directors of banks from academics, issuing a new law for banks and building more advanced internal systems.” .
The Governor of the Central Bank, Ali Al-Alaq, had announced earlier the bank's intention to restructure the government banks, Al-Rafidain and Al-Rasheed, because they acquire 80% of the Iraqi banking system./ End 8 To receive more news , subscribe to our channel on[/rtl]
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