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Community Banking Association in favour of the idea of merging State banks and encourage them

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Hkp1
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Community Banking Association in favour of the idea of merging State banks and encourage them

Post by Hkp1 on Wed 02 Jan 2013, 1:42 pm

Community Banking Association in favour of the idea of merging State banks and encourage them

Posted on: 2: 55 pm, January 2, 2013 by ipa 2

Baghdad
(IBA). The Director of the Association of private banks in favour of
Abdul Aziz Hassoun, the idea of merging State banks with each her
considered a good idea to reduce the heavy burden on the State and the
decrease of the operating management of work without the privileged
service, saying: Merge means creating large financial block capable of
dealing with new developments and with the required funding and money
management.

Hassoun said in a statement to the independent press
agency (IBA) "that the Rafidain and Rashid banks in the restructuring
plan developed in collaboration with the World Bank and managed by a
Committee of Finance Minister and Central Bank Governor and the head of
the Office of financial supervision of State-owned banks merge and
reduce their international plans, saying: that this project will
contribute to strengthening the banking sector and the success of his
administration."

"The idea of combining the idea of universal banks
contribute to reducing the number of banks to dominate its work,
stating: some civil banks took this idea to merge weak banks threatened
with collapse with strong banks to form strong banking sector instead of
loss of capital."

Hassoun said: the banks merge project successful
but specialized banks merge is unsuccessful that the specialized banks,
real estate and Agriculture and industry working individually and does
not require combined to confound their work and his specialty, pointing
out: the integration of agriculture and industry Bank idea lead to
successful if used correctly.(End)


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