On: Sat 22/10/2011 12:18
Baghdad (news) .. student president of the Association of private banks Abdul Aziz Hassoun, monetary and fiscal management in the country, saving the banks exposed to losses and bankruptcy for the purpose of protecting the shareholders, called for the need for a joint action of the banks, public and private through the exchange of instruments and payments.
said Hassoun a statement to the Agency (news) on Saturday: there must be a role for the cash management and financial rescue banks that are bankrupt or losses by lending money accessible and be paid until the restoration of confidence to it through access to the profits in order to protect the funds of depositors or shareholders in this the banks.
stressed Hassoun, the need to create a partnership between the work of government and private banks and private lack of separation between them through the exchange of instruments and payments for the purpose of promoting the banking sector in the country.
He said Hassoun: that private banks have started to work within systems of international banks modern, but the government banks remained unchanged because of the dominated and the Ministry of Finance on the work and made it bound to work systems, banks of old, and continued Hassoun: proposed many solutions and strategic plans big for the advancement of the banking sector in general and government in particular by the World Bank and carried out studies and research are many, but not implemented.
and the President of the Association of private banks that plans included the introduction of banking systems the world of modern banking system, government programs are well suited for implementation, adding to the Rasheed Bank eager to implement the plan update.
is noteworthy that Iraq declared earlier in the postponement of a program to restructure the Iraqi financial system until the year 2013, which included restructuring of the largest banks Iraqi owned by the state and are the Rafidain and Rasheed, and restructuring of the Audit Department at the Central Bank and the development of the private banking sector.
The Central Bank of Iraq ed in November of last year, 2010, that foreign banks operating in Iraq do not work independently, but under the umbrella of the banks, local community, indicating that the investments of the regional countries in Iraq with a commercial character and lacking in international standards