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Vice President of the Association of private banks in Iraq's super Nasser Hussain (new evidence):


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Vice President of the Association of private banks in Iraq's super Nasser Hussain (new evidence):

Post by rocky on Tue Jun 18, 2013 5:34 am

Vice President of the Association of private banks in Iraq's super Nasser Hussain (new evidence):

 On citizens who Tdharora the result of the bankruptcy of some banks litigation Against the central bank to obtain the money
Monday 06/17/2013 03:29 am
Worked association of private banks in Iraq to organize the work of private banks over seven years, which is carrying out several tasks, notably coordination between the central bank and the banks as well as the dissemination of the work and activities of the banks,
And has participated in numerous forums and conferences that belong to the economic and Tsdrnscherh periodically for the most important works and activities of banks and economic life coordinate with institutions Arab Banking Corporation to keep up with growth and development in the field of economics and finance and exchange messages with several civil society organizations on various areas complementary to the significant economic «new evidence» met Economic expert super Nasser Hussain was the following dialogue: -
• How do you see the instability of the exchange rate?
- There is a new mechanism, which is that progressing banks apply to the central bank and submit lists are investigated with the Commission of the auction and is there a balance with the Bank that are converted amounts to those banks and must remain a large surplus of currency with the Bank as possible to verify the bank's credits and الحولات Are they covered by large money laundering is to punish the bank, who requested accreditation or hawala and deprived of access in the currency auction can also sell at the market and not a large margin, which is sold by the dollar in foreign markets.
• What contributes to maintain the dollar exchange rate compared to the Iraqi dinar?
- Supply and demand that determines the exchange rate as we see the desired width is more than the possibility of the central bank and there is a sale amount is $ 150 million, while the market need not less than $ 250 million and we believe that demand more.
• the view of many economists that the reason for the fluctuation of the exchange rate is the failure of the policy of the Central Bank?
- On the central bank to announce the names of the banks and the merchants who buy the dollar and possible for banks and banks can sell to the applicants and not the monopoly of the central bank to this mechanism is also located on the applicants submit statements of the process they need to hard currency in various directions as the Iraqi market imports everything and the country free of Industry and agriculture and even vegetables imported cars and all needs are sold in dollars and dealing instruments is very weak and Visa Card is missing, especially the instruments magnetic tamper-proof and enter the amount within 48 hours to the beneficiary through the system ACH for the exchange of instruments and electronic payments through ARTJC a banking system, an integrated and modern in various banks We hope using Visa Card and Master Card Under Link Central Bank with the rest of the banks, which divided the national will be completed end of this year and this card works in all the banks and there are procedures for intervention in even iris which is older and there Ajerouat some ministries application card Ironing card to receive salaries and away for paper money.
• Do you think that there is damage to the private banks of the instability of the dollar exchange rate and investment projects?
- The most important duties of the central bank is to maintain the exchange rate of the dollar and cause a vast difference detriment of citizens and merchants and increasingly speculative and revive the black market.
• There is a charge for the central bank to some banks smuggling and money laundering?
- The borders are open and there are major irregularities get from all sides and corruption padded and all of this affects the investment and the stability of the economy and the citizen is easy prey, however, speculators and owners of the black market and if it does not stabilize the exchange rate and raise zeros and equivalent dinar dollars because it represents the basis of the economy and prestige of the state and is a symbol of national sovereignty Although the economy yield is dependent on oil and come hard currency and all of these policies is responsible for the central bank must parliament follow the central bank because he is responsible for appointing the governor and the governor of incompatibility between the two positions at the same time is the violation of a major on the Finance Committee parliamentary consideration these things and modify the path.
• What is the difference of Directors of the Central Bank Governor Abdul Basit Turki about Shabibi conservative?
- Parliament and officials of the economic affairs are living those things and business, but we see how the exchange rate was and what is now and for the government to monitor and scrutinize closely the joints and the life of the country and people of Economic and we are our role directing banks and Cooperation administrative, technical, and increase cultural awareness banking through the news bulletin banks and coordination with ties and international banks and keep pace with the Association of cultural work in various fields of meetings and Statistics and the establishment of branches and see a few branches of any up to 100 branch of government and private, such as what exists in other countries where there are thousands of branches of banks, banks, and these branches working on banking cooperation as we see the lack of dealers with banks because of instil confidence with some banks and there are banks in Egypt, for example, have in the bank per 6 million a trader and even Rafidain Bank since its inception early forties has a million trader only so far Rafidain Bank does not have a budget works since 2008, is the oldest bank in the Arab world, but unfortunately fell a lot and even in the world rankings has no sequence and was formerly the top 60 banks in the world and because of indebtedness and monetary policy failed and war was closing its branches abroad.
• How do you view the establishment of branches of Arab and international banks in Iraq?
- The Central Bank allowed under the law of private banks to enter the Iraqi banks Made We have 8 banks where posts external is supposed transfer of expertise and efficiency of these banks with Iraqi banks and follows the development in accordance with the bases global scientific and even authorized branches and outlets for Iraqi banks are supposed to provide better services and the largest of Iraqi banks.
• How do you look to accuse Elaf Bank dollar smuggling to Iran?
- America is the sanctions on Iran are binding on all states and Iran, a neighbor and the free movement of money and the process of importing large of Iran and then sue the bank on the basis of open wire to Iran and even the Iraqi government had told earlier about the inability of Iraq's full application of sanctions on Iran due to the adoption of import and near the border and see how it has punish the British bank that deal with Iran and U.S. banks have to deal with Iran as there are Iranian banks operating in Iraq.
• How do you see the bankruptcy and restructuring of some banks and affected citizens?
- This topic back in toto to the Central Bank and delayed many in deciding بهكذا subject them Warka, Basra and across Iraq and has become a have delay in their financial situation and are now under the tutelage of the Central Bank and regret the suffering of these banks, there are banks and international banks a major hit to the same procedures, but the state and its banks to help them She returned exercised financial situation easily and working but poor management and disposal of the central bank contributed to the bankruptcy and the structure of those banks and affected many people contributors to these banks because of the weakness of the mechanism with the central bank and even depositors also have been affected and now the applicant for his money no longer trusts the policy of the central bank and protects the citizen applicant for his money and advise the Iraqi citizen and the investor had to contend with more than bank to avoid risk and when the deposit money in several banks better than to be deposited in a bank and the only one on the central bank doing recovering money citizens and bear all the legal consequences of the bankruptcy of those banks and has reserves of legal and control of these banks and the citizens who Tdharora establish claims on the central bank and obtaining their money.

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