Economic Analyst: lack of capital of private banks due to the lack of encouragement for savings by
Date: Monday 03/26/2012 12:32
Baghdad (news) .. Explained economic analyst Ibrahim al-Mashhadani, the reasons for the lack of capital of private banks Iraqi dates back to the lack of a means of encouraging savings and bid farewell to the money which by the citizens and owners of the funds of the layer rich in the community, which led to the absence of its actual investment activity of the country.
Mashhadani said (of the Agency news ) on Monday: there are no.. means encouraging result which to bid farewell to the money to the banks by the rich or the owners of the money abundant frozen citizens, such as increasing the interest rate on funds deposited, or the so-called “saving” by the Central Bank, in addition to not giving a good to domestic banks by the monetary policy and the federal government, which led to a lack of trust between the public and banks.
He added: should the central bank increases interest rates for amounts on deposit in Iraqi banks, for the purpose of paying the owners of wealth to bid farewell to their money in banks and invested in projects that serve the country Like some of the world, pointing to the existence of big money frozen by some citizens without investment.
criticized the economic analyst: the work of banking policy in Iraq, by reducing the interest on money deposited in banks, making the most of the citizens’ retreat to the banks to withdraw their money, and this is what led to the confusion in the banking business and make it inactive.
It is noted that the interest assessed by the Central Bank of the money deposited in banks (3%) annually. / Finished / 8. for. m /