09/09/2012 12:00 am
BAGHDAD – Haider Flaih Rubaie
Iraq seeks to develop its system banking and enable them to provide better services to investors and depositors alike, and comes according to many economists across cope with the language of international banks or banks of neighboring countries at the very least, and while he believes the banking Abdul Hussein Mundhiri inability to resolving all the problems of the banks in time perspective to the size of the intercepted from obstacles and delays Technology, director of government banks in the Ministry of Finance Dr. Hilal Taan that capital increase banks incarcerated workers in specialized courses and the use of credit cards and electronic smart all factors capable of developing the performance of banks Iraqi general.
said Taan Speaking (morning): There are many ways in which a quantum leap in the performance of the banking system in Iraq, and could stand in the forefront of those measures is twinned both bankers and public sectors, stressing that these twinning will result in remarkable development that could hurt the final outcome welfare support the national economy in general, and see Taan that the introduction of modern mechanization and the use of systems Visa card, develop and expand the work of the card (so) smart factors lead in the result to a significant evolution in the banking business and elevate it to the ranks of banks advanced globally, stressing the importance of the hurling workers in the banking sector in the courses of specialization advanced inside and outside Iraq to get to know another as high banking system made, stressing at the same time that the capital increase banks is an important factor in reviving the banking business and a sponsor to provide the best kinds of services to investors or depositors to alike.
criticized Taan set several workers inside the banking system who do not have qualifications financial or economic allow them to exercise their professions optimally, pointing out that the treatment that the order came from the Ministry of Finance, which limited the process to hire workers in the banking sector of highly qualified scientific accounting The banking and economic development in a move designed to enhance the work of banks and development staff.
was director of the Association of private banks Abdul Aziz Hassoun called earlier to the need for the enactment of a new banking regulating the work of private banks in Iraq. said Hassoun: The Banking Act of the current Iraqi no longer meets the need banks, was noted as well as through the application and a part of the paragraphs need to amendments or additions, which led to the reluctance of some private banks in their work.
pointed Hassoun and there are differences in some paragraphs of the current law by private banks, what confounded work and make it regular, as well as that Islamic banks are still operating without legal code of its own and this creates chaos in the work of the Iraqi banking. called for legislation or amendment of paragraphs Banking Act in order to organize the work of Iraqi banks public and private service of the Iraqi state and its people.
said Hassoun Negotiations are underway between private banks The Global Post, likely that the coming period would witness the announcement of the partnership international banks with Iraqi banks with their own money and to perform its duties banking. explained that this initiative gives an incentive for banks civil to negotiate with Arab Banks and the World in order to participate and contribute to the banking business, as well as technology transfer of modern banking to it and this What aspired to a lot of private banks.
In an earlier statement (morning) criticized Hassoun some banking Almlqat rests state banks, indicating that the task of distributing small loans and advances marriage must be received upon private banks, adding that the measure could ease the momentum on the government-owned banks on the one hand, and activates the work of private banks on the other, stressing at the same time the need to utilize the services of the card so smart, which began work effectively since nearly a year in the branches of the Rafidain and Rasheed, saying that this move could suffocates the thefts salaries repeated significantly during the past periods, and to pay the employee towards absorbing the culture of rationalization banking, which can offered by that card.
so stated financial expert in the Rafidain Bank Abdul Hussein Mundhiri that Iraqi banks currently experiencing a lot of problems, especially technology them, and other problems related to capital and reflections economic reality public on the role and potential of those banks, particularly high rates of inflation. said Mundhiri Speaking (morning) that this lag in the work of banks need a clear and urgent to serious stand for resolving those obstacles are hindering development efforts in banking sector, pointing out that Iraq and since time is not Bgosair had several talks with the International Monetary Fund and the World Bank, as well as talks with domestic destinations like the parliament, aimed all to reform the banking system in Iraq.
Despite the multiplicity of actions aimed at improving and revitalizing the banking sector and of using global experience sophisticated Kbrat International Monetary Fund, but Mundhiri did not seem optimistic about the future of the banking sector in Iraq, noting not expect to be reform of the banking sector in the near time perspective. and sees that one of the problems facing the banking sector is with respect credit sector in Iraq, as well as confusion budgets of many local banks, which led to the shaken financial sector and morphological in a country that is in dire need of a banking sector is able to meet the needs of local and foreign investors in Iraq.
As Iraq seeks to address this sector in various ways, Mantheri confirms that the country’s foreign debt contributed to a great extent in shaking the confidence of international and local Almstmaren this sector, this has affected negatively in debt work of government banks, particularly banks, Rafidain and Rasheed.