A call for the need for the integration of Iraq’s weakest banks
praised the economic expert Ikram Abdul Aziz, the idea of merger of banks, noting that it will raise the level of banks to keep up with developed countries.
said Abdul Aziz, the need is necessary for the merger of weak banks performing troubled capital and small, and their integration will reflect positively to increase capital and improve their level and composition of banks her new legal personality and independence.
That the integration of banks will increase the size of investment and have a role in financial intermediation, are set out, the banks are under liquidation Accessories of debt, etc., before merging with another bank to form Bank of good with a capital of the top and efficiently big banking.
She explained: the trend towards integration of private banks is an opportunity because the cover all the possibilities offered by the central bank to have a role in the stock market and the role of the volume of credit and the role in promoting public confidence in them by increasing the volume of loans that can be granted to that between a member of the Committee of Economy and Investment in the House of Representatives Abdulabas broadly, that the environment investment Iraq needs to restructure the banking system through the login of modern technology in their work to boost investment in the country.
said broadly in a press statement that most of the global investment firms do not have the substantial funds for investment and it relies on loans granted by banks in the construction of their projects, pointing out the banking sector Iraqi private banks able to finance investment projects. He added that the restructuring of the banking system is the best way for the success of the investment process in the country through the introduction of electronic devices of modern banking and the use of international expertise in the field of information and technological development, to encourage investors to come to Iraq.
He noted that the central bank seeks to integrate a group of small banks than women with little capital to form a bank and one is able to finance investment projects in the country, but was having difficulties in this regard, the fact that most private banks, “banks’ families,” it is difficult to unify management.
announced the central bank mechanism to deal with branches of international banks, pointing out that the prices of the dollar is still higher than the required level, although control of the operations sold in the auction day. The deputy governor of the Central Bank of the appearance of Mohammed, according to (KD) that the price of the dollar in the domestic market is still above the required level, although the control of the Central Bank of the quantity sold from the auction day, due to some irregularities here and there, explaining that the speculators are still exercising their activity in the market Although scaling their work and the freezing of their activity through the strict procedures followed by the Bank in the sale of the dollar during the last period that followed the attacks, strong hard currency middle of last year until earlier this year.
He said there is a new mechanism will be announced in the coming days to deal with branches of international banks in the subsequent period after the imposition of import license system.