Successful initiative of the Central Bank

Successful initiative of the Central Bank

06/02/2013 12:00 AM

Yasser incumbent

Initiated by the central bank to meet a number of departments of Iraqi private banks to listen to the suffering experienced by these banks at a time when mixed with the Securities and numerous accusations Farbkt performance and reflected on the currency market and raised fears of depositors (clients) and prompted them to speed up the withdrawal of deposits and affecting the market came this initiative to reassure citizens and restore confidence in banks. we were in a column earlier and titled (the central bank and the role required) has been let to such meetings to discuss the problems facing the functioning of the banking process, considering that the central bank is the sector, which oversees the affairs of the banking sector, and we now have to Nger this action for the benefit of the morning newspaper, considering that the meeting came in response to our proposal in the previous column.

Draw the attention of everyone to be problematic banks and the accompanying statements and accusations are true or false can not be treated in this way at a time when Iraq is seeking it to create an attractive environment for investment and that of its requirements to create strong banking sector with a global reputation and solvency cover the requirements of companies wishing to invest in the country , meaning that any erroneous interpretation and tarnish the reputation of banks will certainly lead to creating a repulsive environment for investment and mean survival Iraq without any development and building or behold development has passed ten years to change and liberation.

Thus, for Annker of errors and a defect in applications but to address such mistakes that stand out in the business such size and astronomical sums but may be a natural result of poor application instructions or lack of understanding as well as may be FAQ contradictory and where gaps to allow to happen is wrong and all these possibilities are open, but treatment can not be be solved and media statements Abaalan arrest warrants through the departments and the media, including a disservice to the reputation of banks but resolved lies in the verification by the Central Bank of mistakes indexed and can be processed administratively or through the courts if necessary.

For Annker having breaches in a small number of banks, but this does not mean pointing fingers to all banks because it means creating economic chaos overwhelming to Chetan upadhyay ominous so we invite to listen to the views of the banks with the instructions issued and knowing their ability to implement or not, came the new initiative of the Central Bank Hopes to put points on the characters and it melted the ice between him and the private banks and reduced the gap between them and believe that things will be okay in the next few days.

With regard to money laundering and smuggling of the same is another matter and we fight with those who support it and beaten with an iron fist anyone who tries to harm the country's economy, and if the instructions and procedures so clearly it would be implemented simply and distancing banks themselves from the mistake that does not bargained in particular, and it is working freely and check great services to the citizens and abundant profits to shareholders.

Us is a real need for the establishment of the Iraqi Central Bank to sustain these meetings and to inform the departments of banks through which the actions wants to be taken and certainly for the benefit of the national economy and when it will be banks apply the possible application and present their views in is not possible to apply it and so they can be overcome difficulties, the initiative successful and we will follow a new central by correcting the path of the banks, so as to enhance the reputation of the national economy.

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