Economics: Beware. . Rafidain Bank is in danger!

Economics: Beware. . Rafidain Bank is in danger!

Date: Monday 07/09/2012 0:58

 Abbas Ghalibi
exceed the money supply in each of the Rafidain and Rasheed government Aotaidan exceeded 30 trillion dinars, at the time attributed the Chancellor General Manager of Rafidain Bank agency Zia Alckheon why stop the bank advances and loans to poor liquidity.

In the face of this statement strange wonder, which called Alckheon to mention this reason is not convincing at all, at the time talking data on capital, deposits and liquidity of a bank opposite, and have been better for him to look for another reason, as his bank is one of the largest banks, the Iraqi government and private end whether the center of the dominance of near-absolute to the banking activity in Iraq by the government banks, namely the Rafidain and Rasheed, government support for striking at the expense of private banks, especially in the letters of guarantee for government institutions, which has become the preserve of the Rafidain and Rasheed for long periods at a time given in the form of doses of the private banks .
but Alckheon peered This time, we irony banking do not know the causes and Mbaosha and reasons for them, and say if you say looking forward to announce the Rafidain Bank. As a matter of transparency and the flow of information and disclosure to the public the reasons behind this decline in the volume of liquidity and the reality of the case in the Rafidain Bank, especially as it mentioned in the folds of his speech that the financial allocations set for the loans run out has not been promoted by the Ministry of Finance which is why is not convincing, but if it was a matter of coverage to stop the bank to grant loans based on the principle of credit risk, it needs to be an objective review of the performance of the banking form the broader and broader, and the scenery credit in particular, especially slides covered and the need for objective study and careful, and contact with the reality of life and stay away from random in dealing with this scene.
and see in this direction to target the poor and low-income support from the Ministry of Finance specifically in placed the interest rate, where we see from useful to bear the Ministry of Finance the interest rate specified by the Bank for loans in general and housing them in particular, does not see this as a burden on the state budget because this approach contributes significantly to the reduction of the housing crisis and in particular sectors of society who are level or below the poverty line . As we can see that moving two banks Aotaidan to the adoption of private loans to small and medium enterprises, in order to move the wheel of production, especially in the industrial projects that work to create economic cycle and dynamic in moving the wheel productivity as well as contribute to the absorption rate was not bad levels of unemployment, and thus contribute to the banking system movement in the creation of economic actors.
Source: almadapaper