Efforts to search for solutions and actions supportive of the strength of the Iraqi dinar
working the banking and financial services to study the possibility of finding solutions and procedures that will maintain the strength of the Iraqi dinar was prepared with the Association of private banks in Iraq, some of the proposals in this regard in the context of her answer to the action or decision issued by the Central Bank of Iraq committed in 21/12/2011 the banks to increase credit cash to 8 times the capital reserves of sound no later than 30/6/2012, said Executive Director of the Association of private banks in Iraq, Abdel Aziz al-Hassoun said Association and banks have studied the decision and found that credit money and growth is linked to several factors, mainly the work environment, which is what you believe any expansion in economic activity and financial support.
Goldfinch pointed out that the total capital of private banks with reserves of sound will arrive at 30.06.2012 to the extent of 4.9 trillion dinars This means that the volume of credit money will arrive in the event of duplicate in accordance with the decision of Central nearly 40 trillion dinars.
said The provision of credit for not dependent on the heads of banks and is not acceptable and reasonable custom and law Tkadimhaktamoal but was funding from deposits attracted from the public for the purpose of implementation of the resolution should be on the banks to attract deposits from the public, including more than 32 trillion Denardhav to bank deposits are up to 8 trillion dinars. and local Goldfinch that any field survey and statistical of wealth in circulation in Iraq, it will not reach capacity and size that can achieve these figures, pointing out that the amount of money in circulation in Iraq, paper currency Hobhdod 30 trillion dinars.
Despite all these things that make up difficulties, the aspiration exists to find director can all play an important role in the Financial Action Task Force and in economic activity.
goldfinch finds in the process of promoting Aledjarosselh good to maintain the national currency and by encouraging Algmehoraly scalable consumption by providing incentives for Edjarabrberamj government implemented monetary and fiscal authorities in order to lift the ceiling price Alvaúdhaly deposits in banks to 12 percent bear Aalsultat monetary and financial part of them Abrsnadik support or assign Aotaaon and by 4% with requiring banks not to raise interest rates of loans provided by banks to the public and thus achieves several goals including increased deposits and bank credit.
and see Goldfinch need to issue government bonds, the benefits of a rewarding way to help savings because of its bonds of high confidence by the public and thereby contribute to the government in maintaining the value of Iraqi dinar and contribute to government bonds through trading in the market as well as in the stock market to generate cash as a guaranteed payment and desirable by the public.
hinted Goldfinch in speaking of the decision Central aforementioned that responded to the Maardth Association of the proposals in this regard, pointing out that any Central has asked banks to submit their comments and suggestions on ways to encourage the public to savings and deposit with the aim of contributing to support economic activity in the country.
and on the question about the performance of banks in achieving this goal, said: Everything that is touched upon one of the reasons to not release the banks from failure is the other deviated from the banking performance required by the conditions that work in its framework.
He added, however, it is now able to diversify their products bank issuing programs encouraging citizens to invest their money on its way, and concluded by saying it is time to Tagadralmassarv total private business and not stick out and the transfer of services and Tmoelhaaly activities that contribute to economic recovery by moving towards market development is required.