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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Economist: Government support for private banks is necessary to save them

    Rocky
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    • Post n°1

    Economist: Government support for private banks is necessary to save them Empty Economist: Government support for private banks is necessary to save them

    Post by Rocky Wed 10 Apr 2024, 6:50 am

    [rtl]Economist: Government support for private banks is necessary to save them[/rtl]

    Economy  ,  04/10/2024 10:19  Number of readings: 144 
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    [rtl]Baghdad - Iraq today:[/rtl]
    [rtl]Financial and banking expert, Mustafa Hantoush, described the Iraqi government's decisions to support the private banking sector as an “excellent step,” especially with regard to monetary policy, indicating that this sector was subjected to great injustice by the US Federal Reserve after it prevented the banks in this sector from obtaining the dollar.[/rtl]
    [rtl]Hantoush said, in a press interview, that “the decisions recently issued by the Iraqi government are an excellent step and confirm the trend to support the private banking sector,” pointing out that “the process of involving the banking sector in monetary policy decisions within the country is a good step, given that the policy The approved has proven to be a failure and needs intervention from the private sector, by presenting its true vision that would preserve the private sector from loss and going to foreign investors who would implement the interests of foreign countries through private banks.”[/rtl]
    [rtl]He added, “The Iraqi banks were subjected to a great injustice inflicted upon them by the US Federal Reserve by preventing them from obtaining from the dollar without reasons giving, which is the currency equivalent to the Iraqi dinar,” noting that “these 31 banks have A real capital estimated at 250 One billion, as well as the thousands of workers, have lost a real advantage that would provide profits for the banks and enable their continued survival.”[/rtl]
    [rtl]Hantoush added, “The large number of employees and banks represent the Iraqi banking sector in its positives and negatives, but in the end these banks represent the Iraqi banking sector, for which other countries of the world provide the factors for its success and advancement, “pointing out that “talk about the presence of problems in the sector The Iraqi banking system is a result of the Central Bank’s standards that must be amended and banks reclassified.”[/rtl]
    [rtl]He continued, “The government's move towards supporting the private banking sector is an excellent step and an effort to ensure the continuity of the work of these banks, until the government finds a step that may take place in Washington during the Prime Minister's expected visit to the United States through ongoing dialogues to return some of these banks to work and lift the process.” The restrictions imposed on her, especially if there are real reasons for that.”[/rtl]
    [rtl]Hantoush stated, “The government’s approach is towards giving them a portion of government deposits, which may be through restoring the initiative of the Central Bank of Iraq and working to implement it, especially since these banks are not punished and do not have problems in the global banking sector, but the restrictions are related to the dollar file, so it is possible to overcome these.” The point is by giving these private banks their dealings in dinars through government deposits and focusing these banks on implementing them in a manner befitting the citizen.”[/rtl]
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    [/rtl]
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