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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


2 posters

    Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account

    Hkp1
    Hkp1
    Hkp1
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    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account Empty Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account

    Post by Hkp1 Wed 15 May 2013, 3:00 pm

    Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account



    Author: HAM
    Editor: BK, BS
    2013/05/15 17: 56


    Range/Baghdad

    Download
    bankers and economies, on Wednesday, the Finance Ministry and the
    Central Bank of Iraq responsible for the sagging reality of local
    private banks, while the latter accused of promoting Arabic and Iranian
    banks at the expense of Iraq, and threatened to stage a sit-in if not
    amended their laws, economic analyst, believed that "the current
    situation does not allow banks to move towards investment banking
    culture is still" incomplete ".

    This came during an economic
    conference held at the Iraqi Gulf Bank building, the capital, and
    attended by a group of banks involved, as well as (range).


    Bank: Bank of not listening to the views of private banks

    Moans,
    Chairman of Gulf Bank, of "not listen Bank Centre for private banks and
    deal with it like a child", "amend some laws and regulations on the
    work of the private banks.

    Munir Al-jubouri says, speaking to the
    (extent), on the sidelines of a symposium, "the Finance Ministry denies
    official circles for 10 years from the deposit accounts or accept
    certified Bank instruments", adding that "the current legislation are
    not commensurate with the economic revival of Iraq."

    Al-jubouri
    called for the need to modify some of the rules and regulations for
    private banks ", stating that" the Central Bank does not listen to the
    views of the private banks but handles like a subsidiary. "


    Banker: Arabic and Iranian banks encouraged the Iraqi account

    He
    accused the Chairman of the Board of Directors of the Bank of the Iraqi
    economy, Hossam Obeid, Central Bank "Arabic and Iranian banks
    encouraged the Iraqi account, threatening that the private banks" will
    organize a peaceful protest if the Central Bank continues with its
    current policy. "

    The attributes in an interview (range) undo
    reality private banks to "lack of confidence", the Central Bank accused
    Central Bank "Arabic and Iranian banks encourage over Iraq, although
    foreign banks capital does not reach one quarter that of the Iraqi
    counterpart."

    And threatened that private banks "will organize a
    peaceful protest if the Central Bank continues with its current policy
    with private banks.


    A: If the Government does not deal with the private sector, how citizens

    According
    to Managing Director of the Iraqi company for bank guarantees Amin
    Abdel Sattar, "missing cooperation between the public and private
    sectors", wondering "If the Government does not deal with the private
    sector, how will treat the citizen."

    Curtain, recalls in an
    interview (range), "or missing between the Government and private
    sectors in Iraq", adding: "How can we expect the citizens to deal with
    the private banking sector if the Government itself does not deal with
    him."

    Abdul Sattar, called on the Government to "issue a package
    of laws and regulations in support of the banking industry, particularly
    in the private sector."


    Analyst: banking culture still incomplete

    On
    a related level, economic analyst, believes that "the current situation
    does not allow banks to investment orientation, culture in Iraq still
    incomplete."

    Majid says mock, told the (term), "culture in Iraq
    lacking either for the Government or banks or citizens", pointing out
    that there was a "need for a long time to get to the culture of
    cooperation between banks and the various sectors.

    This is not
    the first time that the attacks involved the banking sector in Iraq,
    Iraqi politicians and bankers attacked, at the first annual Conference
    for entrepreneurs, which was held at the headquarters of the Islamic
    Supreme Council in the capital Baghdad, (9 March 2013), fiscal policy in
    Iraq, said the country's banking system is the "most backward" between
    the States of the region, while the Central Bank trends made private
    banks "atypical and without a father", felt that "corruption" of the
    administrative and bureaucratic procedures in some institutions turned
    into "Ways to blackmail. "

    And deputies, politicians and
    economists have accused the Central Bank of Iraq over the past months to
    burn "on average four billion dollars a month in hard currency auction
    for ten banks mostly Gulf capital, buy a day most posed by Central Bank
    currency and obscene profit up six percent to control Iraqi economy."

    The
    Iraqi Cabinet decided on (16 October 2012), head of the Office of
    financial supervision Abdel Basset Turki, Governor of the Central Bank,
    rather than the previous Bank Governor Sinan Al-Shabibi, "accusing him
    of financial and administrative corruption" at the Bank especially in
    the auction on the dollar, but that nothing has changed on the work of
    the Bank and auction currency while the dinar has witnessed a big drop
    against the dollar, rebounding from 1170 dinars per dollar in the autumn
    of 2012, to 1,270 dinars Per dollar in April 2013.

    The IMF said
    in a report released in (21 March 2013), following the end of the
    consultations held in the Jordanian capital of Oman, between a
    delegation from the Fund and an Iraqi delegation led by the Minister of
    planning Ali Shukri, obtained by (range), the improvement in the
    financial sector, but stressed that it still needs "greater efforts by
    the Central Bank on monetary policy tools revision and strengthening of
    banking supervision, and to accelerate the restructuring of the banking
    system."

    The IMF called on the Central Bank to "gradual
    liberalization measures introduced foreign exchange through auctions
    held by the Bank so that repeated disturbances suffered by last year's
    financial market."

    The Fund stressed that "the establishment of a
    national banking system requires abandoning the current form, which is
    dominated by the weak State-owned banks that enjoy preferential
    treatment to distinguish it from private banks", calling on Iraq to
    strengthen its public finances to ensure efficiency and transparency in
    the use of oil revenues. "

    The private sector has seen a great
    decline after 2003 due to increased government support, especially for
    the industrial sector, which has led to most of the plants and factories
    stopped work due to its inability to compete with subsidized imported
    goods in States that come from them, which are subject to large fees, as
    well as local problems caused by energy and fuel crises and insecurity,
    the ageing of equipment.




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    Neno
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    • Post n°2

    Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account Empty Re: Bankers accused the Central Bank to encourage banks to Iranian and Arabic Iraqi account

    Post by Neno Wed 15 May 2013, 6:08 pm

    The IMF called on the Central Bank to "gradual
    liberalization measures introduced foreign exchange through auctions
    held by the Bank     so that repeated disturbances suffered by last year's
    financial market."
    ... ;)
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