Bankers: private banks merge with each project to save the banking sector from collapse

Bankers: private banks merge with each project to save the banking sector from collapse


Collect specialists on the need to apply the idea of integrating small private banks that are in danger of collapse with the big banks to continue their work in the banking sector and perpetuated banking dramatically in Iraq.

Director of the Association of private banks Abdul Aziz Hassoun Ray during the modern idea of merger of banks, the idea has existed for years, the fact that private banks to merge with each other to form large banks can Cope with economic conditions in the market that the private banks in Iraq, all banks are not considered a significant despite the fact that its assets and Aodaha financial grown.

Hassoun said that Iraq still needs large banks can be faced with the requirements of home and abroad, and called on Hassoun, to apply this idea on the ground.

For his part, stressed the economic expert Majid picture, through the modern enterprise integrating private banks with each other is very essential aims to increase the capital of Iraqi banks and thus contribute to the lifting of the financial value of the banking sector.

The expert said «that the idea came as pressure on small banks which can not increase its capital to 250 billion dollars, prompting the central bank to the merger of private banks to create large banks can deal with huge global banks. He added, «that Iraq needs all kinds of banking transactions International in order to have a good reputation and financial base good, but this does not mean that the Iraqi economy needs to integrate all banks and expert called« to study the draft merger of banks in an integrated manner with the needs of the Iraqi economy and the needs of banking dealings at home and abroad and that it is necessary to increase the capital of all banks to 250 or pressure on him to get this financial apical. And continued economic expert, «said the project is good and should be applied by the Central Bank of invitation to join small banks with large banks.

For his part, stressed adviser to the North Bank for Finance and Investment wholesome Elias Abbou through modern, that the idea of private banks to merge with each idea contribute to strengthening the banking sector, however, most banks will not prefer this idea will not see the light until now.

Abbou between «The idea of the merger of banks raised at the time of the request of the Central Bank’s capital increase private banks to $ 250 billion, then most banks went to apply this idea but without any success for mysterious reasons.

And the Abbou «said most of the banks are family banks owned by the family of Iraqi families actual idea of integration of these are not easily applied to arent leaders to abandon the leadership of another bank which is difficult.