POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]
[size=52]A government advisor announces the start of implementing the reform plan in government and private banks[/size]
[size=45]Adviser to the Prime Minister for Economic and Financial Affairs, Mazhar Muhammad Saleh, confirmed today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani is interested in reforming the course of the private and government banking system, while indicating the start of implementing the reform plan for government banks.[/size]
[size=45]Saleh said, “The banking market has a great division. For example, the capital of private banks, or their share of capital from the government, is about 78 percent, while the capital of government banks is 22 percent.”[/size]
[size=45]He continued, “While government banks account for 85 percent of activities and assets, while private banking activity is 15 percent, so there are large disparities between private and government banks.”[/size]
[size=45]He explained, “Private banks have almost coexisted on government allocations, whether through the window or by opening letters of guarantee for projects, meaning that any vibration exposes private banks to serious problems, so approximately 29 banks have been deprived of dealing in foreign currency.”[/size]
[size=45]Saleh added, “Prime Minister Muhammad Shiaa Al-Sudani is very interested in reforming the course of the private and governmental banking system,” stressing that “there is a reform plan for government banks, and there is a foreign company that evaluates banking work, its capital, and its functions until they are parallel to the work of international banks.”[/size]
[size=45]He stated, “Private banks are facing a dilemma, especially after being deprived of trading in foreign currencies, even though they have coexisted with this issue. Therefore, the government is trying to create an internal environment that is supportive of them, and they need to correct their situations first.”[/size]
[size=45]He went on to say: “The Prime Minister is correctly supportive of private banks, on the condition that these banks improve their course of work,” stressing that “there is a reform plan to correct the course of private banks that will be implemented soon.”[/size]
[size=45]A government source revealed, the day before yesterday, Tuesday, that Prime Minister Muhammad Shiaa Al-Sudani issued a set of measures and steps to revitalize the private banking sector, while directing a study of the possibility of strengthening the needs of private bank branches abroad in foreign currency.[/size]
[size=45]The source told the Iraqi News Agency (WA): “Within the framework of the Iraqi government’s efforts to formulate a strategy that stimulates the activity of the private banking sector during the next stage, allowing it to engage more in efforts to diversify the economy and strengthen its foundations, Prime Minister Muhammad Shiaa Al-Sudani directed the adoption of a set of measures and steps in this regard.” The matter, including:[/size]
[size=45]1 - The Ministerial Council for the Economy studies a proposal to increase deposits of government institutions and the central government with private banks, enabling them to provide more banking operations and contribute to the development of various vital sectors and increase their ability to provide various financing services inside and outside Iraq.[/size]
[size=45]2- The support of the Iraqi government and the Central Bank of Iraq to private Iraqi banks through foreign institutions and banks, taking into account the credit rating of each bank.[/size]
[size=45]3- Study the possibility of enhancing the needs of private bank branches abroad in foreign currency for the purposes of financing foreign trade - the private sector and in accordance with the applicable contexts.[/size]
[size=45]4 - The Board of Directors of the Central Bank of Iraq determines the contribution of foreign capital to Iraqi banks and evaluates the reality of the situation in a way that benefits the Iraqi economy and in accordance with what is stated in Banking Law No. 94 of 2004.[/size]
[size=45]5- Participation of representatives from the private banking sector when discussing relevant issues in all state institutions, including meetings of the Board of Directors of the Central Bank of Iraq.[/size]
[size=45]6- Studying the reactivation of the financing initiative presented by the Central Bank of Iraq and in accordance with the contexts proposed by the Central Bank in this regard.[/size]
[size=45]7- The Competition and Monopoly Affairs Council shall take the necessary measures under Law No. 14 of 2010 to prevent monopoly in banking services, provided that the Council shall submit reports to the Central Bank of Iraq and in coordination with it periodically and in accordance with the aforementioned law.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]A government advisor announces the start of implementing the reform plan in government and private banks[/size]
[size=45]Adviser to the Prime Minister for Economic and Financial Affairs, Mazhar Muhammad Saleh, confirmed today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani is interested in reforming the course of the private and government banking system, while indicating the start of implementing the reform plan for government banks.[/size]
[size=45]Saleh said, “The banking market has a great division. For example, the capital of private banks, or their share of capital from the government, is about 78 percent, while the capital of government banks is 22 percent.”[/size]
[size=45]He continued, “While government banks account for 85 percent of activities and assets, while private banking activity is 15 percent, so there are large disparities between private and government banks.”[/size]
[size=45]He explained, “Private banks have almost coexisted on government allocations, whether through the window or by opening letters of guarantee for projects, meaning that any vibration exposes private banks to serious problems, so approximately 29 banks have been deprived of dealing in foreign currency.”[/size]
[size=45]Saleh added, “Prime Minister Muhammad Shiaa Al-Sudani is very interested in reforming the course of the private and governmental banking system,” stressing that “there is a reform plan for government banks, and there is a foreign company that evaluates banking work, its capital, and its functions until they are parallel to the work of international banks.”[/size]
[size=45]He stated, “Private banks are facing a dilemma, especially after being deprived of trading in foreign currencies, even though they have coexisted with this issue. Therefore, the government is trying to create an internal environment that is supportive of them, and they need to correct their situations first.”[/size]
[size=45]He went on to say: “The Prime Minister is correctly supportive of private banks, on the condition that these banks improve their course of work,” stressing that “there is a reform plan to correct the course of private banks that will be implemented soon.”[/size]
[size=45]A government source revealed, the day before yesterday, Tuesday, that Prime Minister Muhammad Shiaa Al-Sudani issued a set of measures and steps to revitalize the private banking sector, while directing a study of the possibility of strengthening the needs of private bank branches abroad in foreign currency.[/size]
[size=45]The source told the Iraqi News Agency (WA): “Within the framework of the Iraqi government’s efforts to formulate a strategy that stimulates the activity of the private banking sector during the next stage, allowing it to engage more in efforts to diversify the economy and strengthen its foundations, Prime Minister Muhammad Shiaa Al-Sudani directed the adoption of a set of measures and steps in this regard.” The matter, including:[/size]
[size=45]1 - The Ministerial Council for the Economy studies a proposal to increase deposits of government institutions and the central government with private banks, enabling them to provide more banking operations and contribute to the development of various vital sectors and increase their ability to provide various financing services inside and outside Iraq.[/size]
[size=45]2- The support of the Iraqi government and the Central Bank of Iraq to private Iraqi banks through foreign institutions and banks, taking into account the credit rating of each bank.[/size]
[size=45]3- Study the possibility of enhancing the needs of private bank branches abroad in foreign currency for the purposes of financing foreign trade - the private sector and in accordance with the applicable contexts.[/size]
[size=45]4 - The Board of Directors of the Central Bank of Iraq determines the contribution of foreign capital to Iraqi banks and evaluates the reality of the situation in a way that benefits the Iraqi economy and in accordance with what is stated in Banking Law No. 94 of 2004.[/size]
[size=45]5- Participation of representatives from the private banking sector when discussing relevant issues in all state institutions, including meetings of the Board of Directors of the Central Bank of Iraq.[/size]
[size=45]6- Studying the reactivation of the financing initiative presented by the Central Bank of Iraq and in accordance with the contexts proposed by the Central Bank in this regard.[/size]
[size=45]7- The Competition and Monopoly Affairs Council shall take the necessary measures under Law No. 14 of 2010 to prevent monopoly in banking services, provided that the Council shall submit reports to the Central Bank of Iraq and in coordination with it periodically and in accordance with the aforementioned law.[/size]
[size=45][You must be registered and logged in to see this link.]
Yesterday at 6:53 pm by Rocky
» MM&C The Iraqi Private Banks Association told NEWS: These are the results of the Prime Minister’s me
Yesterday at 6:52 pm by Rocky
» After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and A
Yesterday at 6:51 pm by Rocky
» Deputy: The general amnesty law will be passed
Yesterday at 6:46 pm by Rocky
» A change in the fuel smuggling map... “control” over the central ports and “laxity” in the north
Yesterday at 6:43 pm by Rocky
» Al-Sudani takes three urgent decisions to block the wheat mafias in Iraq
Yesterday at 6:41 pm by Rocky
» Electricity embarks on an 11-axis plan to develop the energy sector
Yesterday at 6:39 pm by Rocky
» “Thug and smuggler.” A female representative talks about a crocodile in Parliament blackmailing exec
Yesterday at 6:37 pm by Rocky
» Al-Sudani told the US State Department: Iraq is keen to strengthen its democratic system
Yesterday at 6:36 pm by Rocky
» The Central Bank sells more than $275 million at auction today
Yesterday at 6:34 pm by Rocky
» The Minister of Commerce stresses the observance of the Iraqi standard in the supply of goods
Yesterday at 6:33 pm by Rocky
» The Iraqi Trade Bank announces its participation in the process of localizing the salaries of Kurdis
Yesterday at 6:32 pm by Rocky
» Iraq adopts an advanced system to combat money laundering and terrorist financing
Yesterday at 5:25 pm by Rocky
» Increase in Euphrates River levels due to Turkish water releases
Yesterday at 5:22 pm by Rocky
» Demands the need to legislate the capital law
Yesterday at 5:21 pm by Rocky
» Parliament decided to extend the legislative term by one month
Yesterday at 5:20 pm by Rocky
» A bank participating in the process of localizing the salaries of employees in the region
Yesterday at 5:18 pm by Rocky
» Parliamentary request to the Ministry of Finance regarding defense mobilization dues/document
Yesterday at 5:17 pm by Rocky
» Dollar prices in Baghdad and Kurdistan today
Yesterday at 5:16 pm by Rocky
» Al-Rasheed decides to increase the ceiling for granting “construction” loans to 75 million dinars
Yesterday at 5:14 pm by Rocky
» A government plan to expand the construction of water harvesting dams
Yesterday at 5:12 pm by Rocky
» Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad
Yesterday at 5:11 pm by Rocky
» The Iraqi Trade Bank participates in the process of localizing the salaries of Kurdistan Region empl
Yesterday at 5:10 pm by Rocky
» Finance confirms the Iraqi government's desire to benefit from the expertise of French companies
Yesterday at 5:09 pm by Rocky
» After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli
Yesterday at 5:08 pm by Rocky
» A parliamentary understanding to extend the legislative term to approve the 2024 budget schedules
Yesterday at 5:08 pm by Rocky
» Stopping the Commission’s procedures regarding the region’s elections
Yesterday at 5:06 pm by Rocky
» Foreign oil companies violate Iraqi laws
Yesterday at 5:05 pm by Rocky
» The position of Speaker of Parliament depends on the political agreement
Yesterday at 5:04 pm by Rocky
» The Ministry of Finance decides to send the April salary to the Kurdistan region
Yesterday at 5:02 pm by Rocky
» It did not reach the Council.. Parliament determines the mechanisms for dealing with the 2024 budget
Yesterday at 5:01 pm by Rocky
» 88 projects awaiting resolution.. What will happen to the stalled laws in Parliament? - Urgent
Yesterday at 5:00 pm by Rocky
» Al-Sudani receives the US Undersecretary of State
Yesterday at 4:59 pm by Rocky
» It did not reach the Council.. Parliament determines the mechanisms for dealing with the 2024 budget
Yesterday at 4:57 pm by Rocky
» Advisor to Al-Sudani: Sanctions on 32 private banks caused financial problems inside Iraq (video)
Yesterday at 4:56 pm by Rocky
» An expert comments on the use of the Iraqi currency in commercial transactions with Iran
Yesterday at 4:54 pm by Rocky
» Why does Iraq depend on foreign banks for dollar transfers?
Yesterday at 4:53 pm by Rocky
» Deputy: The fuel smuggling map in Iraq has “radically changed” from what it was years ago
Yesterday at 4:52 pm by Rocky
» Petroleum Products announces a decrease in gasoline imports by about 8 million liters
Yesterday at 4:51 pm by Rocky
» Government advisor: Collections will shift almost completely to electronic payment in the middle of
Yesterday at 4:49 pm by Rocky
» Complete decisions of the Council of Ministers session
Yesterday at 4:48 pm by Rocky
» Al-Sudani chairs the first meeting to restructure the government apparatus
Yesterday at 4:47 pm by Rocky
» The National University holds its second international scientific conference with the participation
Yesterday at 4:46 pm by Rocky
» Parliamentary proposals to extend the legislative term of the House of Representatives to resolve th
Yesterday at 4:45 pm by Rocky
» Hanoun: We are working on preparing a six-year strategy to combat corruption based on technology
Yesterday at 4:44 pm by Rocky
» The Ministerial Council for the Economy decides to stop the import of 6 crops due to their abundance
Yesterday at 4:42 pm by Rocky
» Minister of Industry: He turned to Chinese companies to supply Iraq with spongy iron ores
Yesterday at 4:42 pm by Rocky
» A foreign report reveals the existence of an undeclared Iraqi-British agreement regarding asylum see
Yesterday at 4:41 pm by Rocky
» “Fares Issa” visits the Ministry of Finance and Economy in the Kurdistan Region
Yesterday at 4:39 pm by Rocky
» Nechirvan Barzani: We want to address all problems with Iran and begin a new phase of relations
Yesterday at 4:38 pm by Rocky
» The position of Speaker of Parliament.. Representatives confirm: “There is no amendment to the bylaw
Yesterday at 4:36 pm by Rocky
» Demands to put an end to foreign workers
Yesterday at 4:34 pm by Rocky
» Iranian official: We do not have frozen funds in Iraq
Yesterday at 4:33 pm by Rocky
» Entering 31 countries in the world without a visa.. A look at the Iraqi passport during 2024
Yesterday at 4:32 pm by Rocky
» An Iranian plan to export goods to Iraq worth $3 billion
Yesterday at 4:31 pm by Rocky
» The Board of Commissioners decides to suspend the technical and financial procedures for the Kurdist
Yesterday at 4:29 pm by Rocky
» Baghdad Governorate approves the two paths of the development road
Yesterday at 4:28 pm by Rocky
» Mawazine publishes the full decisions of the Council of Ministers at its session today
Yesterday at 4:26 pm by Rocky
» Asaib: The Sunnis are accustomed to having an external actor leading them
Yesterday at 4:25 pm by Rocky
» The Iranian ambassador in Baghdad: The Sudanese government enjoys the support of the Shiite and Sunn
Yesterday at 4:24 pm by Rocky
» Politician: Representatives of Taqadum “hurt” Al-Halbousi and their party
Yesterday at 4:23 pm by Rocky
» “Deficit” is the password.. Parliamentary Finance decodes the budget delay
Yesterday at 4:22 pm by Rocky
» Al-Sudani: The tourism sector will be a substitute resource for oil in the coming years
Yesterday at 4:20 pm by Rocky
» Finance confirms the Iraqi government's desire to benefit from the expertise of French companies
Yesterday at 4:19 pm by Rocky
» utube 5/4/24 MM&C Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules -
Yesterday at 5:10 am by Rocky
» After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and A
Tue May 07, 2024 8:06 pm by Rocky
» A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s sess
Tue May 07, 2024 8:02 pm by Rocky
» A deputy resolves the controversy over the “transfer supplement” in two ministries
Tue May 07, 2024 8:01 pm by Rocky
» Al-Halbousi’s “vacant” seat.. Will the coordination framework end the “Taqaddum” dream of an allianc
Tue May 07, 2024 7:59 pm by Rocky
» The Federal Government issues a state order to stop the Commission’s work procedures regarding the K
Tue May 07, 2024 7:57 pm by Rocky
» Including the freedom to choose the bank and withdraw the salary for “free”... “My Account” features
Tue May 07, 2024 7:55 pm by Rocky
» The Central Bank sells more than $250 million during its daily auction
Tue May 07, 2024 7:51 pm by Rocky
» Al-Sudani receives a delegation from the Union of Arab Banks
Tue May 07, 2024 7:44 pm by Rocky
» Iraq and the United States of America hold trade meetings in Washington
Tue May 07, 2024 7:43 pm by Rocky
» In pictures... The activities of the Union of Arab Banks conference in Baghdad, “Day Two”
Tue May 07, 2024 7:42 pm by Rocky
» The Director General of Ports announces the completion of berths (3) and (4) in Al-Faw Grand Port
Tue May 07, 2024 7:40 pm by Rocky
» The Council of Ministers holds its regular session headed by Al-Sudani
Tue May 07, 2024 7:38 pm by Rocky
» Parliament publishes the agenda of its session for next Thursday
Tue May 07, 2024 7:37 pm by Rocky
» A government measure to reduce "money laundering" using the buying and selling of real estate in Ira
Tue May 07, 2024 7:35 pm by Rocky
» Iraq proposes establishing a specialized council to combat corruption in Arab countries
Tue May 07, 2024 7:32 pm by Rocky
» Al-Mawarid intends to establish infrastructure and investment projects for the water sector in Iraq
Tue May 07, 2024 7:30 pm by Rocky
» The Federal Court issues a decision regarding postponing the election of the Speaker of the House of
Tue May 07, 2024 7:28 pm by Rocky
» A government meeting to discuss financing and implementation mechanisms for the Development Road Pro
Tue May 07, 2024 5:12 pm by Rocky
» Al-Sudani: Iraqi banks are on the right track with financial transfers
Tue May 07, 2024 5:11 pm by Rocky
» Al-Khazali: The Turkish side is still imposing its conditions on Iraq
Tue May 07, 2024 5:08 pm by Rocky
» Rights: We refuse to amend the bylaws of Parliament under political influence and desires
Tue May 07, 2024 5:07 pm by Rocky
» Nechirvan Barzani: We want to address all problems with Iran and begin a new phase of relations
Tue May 07, 2024 5:05 pm by Rocky
» Today, Iraq and Iran signed the minutes of a joint meeting related to trade
Tue May 07, 2024 5:03 pm by Rocky
» KPMG International begins auditing the revenues of telephone companies operating in Iraq
Tue May 07, 2024 5:02 pm by Rocky
» Oil: The seventh batch of equipment for the gas manufacturing project in the Nasiriyah and Gharraf f
Tue May 07, 2024 5:01 pm by Rocky
» Al-Sudani assures the French ambassador of Iraq’s openness to “fruitful” partnerships
Tue May 07, 2024 5:00 pm by Rocky
» Government move to install gold screening devices at 4 airports
Tue May 07, 2024 4:59 pm by Rocky
» Sudanese Advisor: The oil sector is witnessing a rapid renaissance
Tue May 07, 2024 4:58 pm by Rocky
» Opening offices specialized in employing people with disabilities
Tue May 07, 2024 4:57 pm by Rocky
» Infrastructure and investment projects for the water sector in Iraq
Tue May 07, 2024 4:56 pm by Rocky
» Adopting the electronic system in the next census
Tue May 07, 2024 4:55 pm by Rocky
» Al-Sudani chairs the first meeting to restructure the government apparatus
Tue May 07, 2024 4:54 pm by Rocky
» Business Council: Efforts to open a branch of the Chinese Bank in Iraq
Tue May 07, 2024 4:53 pm by Rocky
» Iraqi diplomacy is balanced openness
Tue May 07, 2024 4:52 pm by Rocky