Specialists call for the development of the banking sector and emphasize: the volume of deposits in

Specialists call for the development of the banking sector and emphasize: the volume of deposits in the local banks do not exceed the 20 trillion dinars

9/2/2016

~ BAGHDAD - My Day

at a time when the economic and investment commission in Parliament stressed the importance of developing public and private, both the Iraqi banking sector, Executive Director of the Association of Private banks stressed that the size of the private sector deposits with the banking system does not exceed 20 trillion dinars, while called expert economist for the establishment of a bank for economic development to cover the investment services and infrastructure reconstruction, and confirmed the economic and investment commission in Parliament on the importance of the development of the Iraqi government and private, both the banking sector to be one of the factors contributing to the economic development of the Bld.oukaltmember Najiba Committee Najib in a press statement that the financial crisis the country is experiencing now makes it imperative to do to achieve sustainable development in the country to diversify its revenue and activation of other economic sectors, and this needs to be factors that help them develop the banking system Alaraca.oodhav should the banking public and private, both sector support to take an effective role in supporting the Iraqi economy, either with money or legislation . For his part, stressed the Executive Director of the Association of private banks Abdul Aziz Hassoun, in a press statement that the Iraqi banking system in need of treatment, not reform, noting that the results of the banking system deterioration began hitting depth after playing the public about dealing with Almassarv.oadav Hassoun that if confined cries demanding reform the banking system and reasonable and realistic limits to Han it, but what happened is to put the entire device on the autopsy table to catch every tear Mdaa by these terms or those of the body here and lost important aspect which is the purpose of this defamation device. He stressed the need to contribute to bridge the financial gap that rolled her country as well as the financing gap and what can be put in front of officials in the various authorities is that the task of the Ministry of Finance implement the treatment program and that direct intervention to support a group of private banks, which sees the benefit in the attribution, by contributing to increase their capital shares acquired by the ministry or its affiliated institutions such as specialized banks and insurance companies, which allows them to participate in the administration, helping to stop the panic, which installed the public to back serenely to deal with banks and depository where, after finding the government's participation this ownership banks surest guarantee for his money He pointed out that the volume of private sector deposits with the banking public and private, both the device does not exceed 20 trillion dinars barely equivalent to about 20 billion US dollars to the government banks (60%) and (40%) in private, they are small compared with the size of deposits in Lebanese banks which exceed the equivalent of 170 billion US dollars as well as in Egypt, where more than 180 billion US dollars, wondering how it will contribute to the Iraqi banking system in financing various economic activities that do not could last five times deposits with banks. The number of private banks registered with the Central Bank of Iraq has 32 ​​banks, including eight Muslim, but it is, according to relevant experts did not constitute a record developmentally real support of industry, agriculture, small and medium enterprises in the country and limited activities on Asirvih operations Mahdodh.aly so economist said Tawfiq that the economy is a facts and figures, to support balanced economic development, and exploitation of optimal physical and human resources through the development of the banking sector to become an active role in the implementation of fiscal policies. He added that Iraq until the present time lacks the establishment of a bank for economic development despite the fact that the Budget Law for the year 2016 approved the establishment of such banks in all provinces to cover the investment services and restore infrastructure reconstruction Altanah.wachar that the current role of the banking sector is an influential and effective and closer to neutrality, He pointed out that private sector banks are few in number in the stock market, and most of its money family heads, as well as fear of the citizen to invest his money in an undefined institutions or offerer for services and facilities provided by the community, Like the rest of the companies listed on the Iraq Stock Exchange, where he describes the indicators Alastosmaralamhali weakness. He stressed that the contribution of the citizen his money chunky in those banks and companies lead to increased investment rates, thus increasing the economic activities, they returned to the investors a large role in increasing liquidity and reducing the inflation rate to the fact that their contribution to the project will reduce the presence of cash that will increase its value due to tight supply.