Parliamentary Finance supports the restructuring of banks in the country and to develop legislation
Parliamentary Finance supports the restructuring of banks in the country and to develop legislation
03.16.2014 (0:01 pm)
Baghdad – Abdul Rashid Saleh
Deputies said the Committee on Economy parliamentary and banking expert said the banking sector in the country is still “below the level of ambition”, and drew attention to these banks suffer from lack of application of modern techniques and the lack of coordination with international banks, and stressed the need for restructuring the government and private banks through the issuance of legislation and amend the laws window belonging to their work
and said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri in an interview with the “long” yesterday “near the economic conference expanded to discuss the basis of the regime of Iraqi banks,” adding that “the most important problems of the banks is not to introduce new technologies, and coordination with banks World “, adding that” banks are still using traditional methods in their work. ”
He said he “must amend the law on the banks of the article” 27 “to the article,” 31 “to facilitate the work of private banks and the government,” and added, “We have asked the government to equate banks the private sector and public sector banks in terms of deposits and guarantees, “he said, adding that his committee is seeking to modify a number of laws, such as the Central Bank and the tax law and trade law.
his part, said adviser in the Ministry of Finance Zia Alckheon that “banks are suffering sort of problem many as suffer the private banks of lack of liquidity while experiencing government banks are not opening credits, direct. ”
he said in a statement to the “term” that “banks are still reluctant and did not witness the introduction of the banking system overall,” he can not improve the banks without modifying their own laws. ”
and pointed out that “Every bank board of directors is responsible for issuing decisions and management away from state intervention,” describing “the level of performance of banks,” average “, pointing to an improvement in their performance, but this improvement is not within the required level.
, in turn, said economic expert, contrary goldsmith’s “long” “The government banks are still operating within the mechanism of the old overtaken by many countries in the world,” and explained that “the cadres working in the banks are not eligible for the banking business.”
As for the work of private banks, he noted jeweler that “private banks have not been able to overcome errors in government banks, “noting that” these banks lack the manpower with experience in the banking business. ”
He said economic expert, said that “the solution to improve the functioning of the banks is to re-structure the work of banks by entering partnerships with international banks sober, as well as the introduction of modern technologies for banks and the training of staff working in those banks. ”
and stressed “the need to create new services by the banks would have to pay capital”, as well as investing in the stock market, which promotes the work of these banks. ”
For her part, Najeebeh Najib member of the parliamentary Finance Committee that “the sector banking system in Iraq is still suffering a lot of problems and difficulties, “and stressed the” long “that” the introduction of modern technologies in the banking business needs to be legislation that supports and protects the private banks and the government. ”
revealed Najib announced plans to “restructure banks supported by foreign expertise,” to Avcta that “progress is slow work of this Committee, and not within the required level.”
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