Iraqi banks without global standards and semi-closed external communications

BAGHDAD (Iba) .. Prime Media Center Economic Dergham Mohammed Ali, said the banking business in Iraq without international standards and lacks the large capital and possibilities and external communications, noting: no banking companies working with the largest capital of banks’ capital Current.

Ali told the independent press (Iba) .. “The banks current working capital funds small and limited possibilities and the absence of international agreements to the lack of gravity in the performance can not be developed individually, stressing: that means development for Iraqi banks depends on D friction banks Foreign and contracts with global partnerships. “

He explained that the development of banks depends on “a plan to develop and activate the mechanisms of credit in addition to activating the mechanisms relieve guarantees and increase the potential granting of loans from private banks, adding to the piece that intervention ضن investment by granting investment loans for industrialists Iraqis and investment projects coming from abroad and do external communications “.

He emphasized the “now our banks almost closed on the inner workings and will not work to take advantage of the amounts deposited with Kkhozana and deposits Treasury Kthsal to lower interest rates for the applicant to that is always granted credit few are granted loans a few of the citizens and their potential in the granting of loans few means.”

“We can not develop Iraqi banks only through involvement with international banks and increase their capital central bank imposed capital increase but this increase is not enough unless reached acceptable levels internationally and is currently below international standards.”