Association of private banks, the government will shoulder the responsibility of the fiscal deficit for Warka Investment bank and Basra International
بواسطة: bian By: Bian
بتاريخ : السبت 04-06-2011 09:43 مساء On: Saturday 06/04/2011 22:43
Agency Baghdad International / Ammar Clbp
Download the Executive Director of the Association of private banks, Abdul Aziz Hassoun was the government responsible for some private banks to the financial problems and crises experienced by now, referring to the Warka Investment bank and Basra international rapporteurs, who live a state of fiscal deficit and the lack of financial liquidity in them.
The NVA Hassoun in an interview with a reporter and news agency, Baghdad International said the fiscal deficit is witnessed by the bank Uruk and Basra special is the result of bankruptcy, noting that due to the loss of liquidity in these banks because the government departments that had deposited large sums of money to these banks to withdraw those funds by government decision surprise of all private banks without obligation to restore the dates that had been proven under the terms of the deposit and withdrawal.
He said Hassoun that the private banks is to invest the funds deposited with it through the lending and financing that you make, indicating that the drag sudden that caused the financial crisis at the two banks in particular without the private banks, other they would have on the proportion of government deposits the biggest, pointing out that the term recovery of such funds invested by these banks do not comply with the terms retrieved which led to the failure of these banks and the fiscal deficit, which Oukuahma Ieihah now.
He said Hassoun attempts and the process of serious research by financial authorities and the monetary authority represented by the Central Bank of Iraq to address this matter is now under way, indicating that the central bank observer of the situation and under direct supervision, and expressed his hope that more than two banks of the problem and return to their acts normally.
He said Hassoun said another problem was accompanied these problems so that the funds provided by banks in general and the commitments contracted by suppliers and contractors with government agencies also banks are funded in the hope that the government contracting with these contractors and suppliers to transfer their benefits to banks that Astlfo of them, revealing the contractual disputes and differences arising between the contractors and suppliers on the one hand and government departments that are dealing with the other hand, what leads to the failure of such circuits on the transfer of the amounts owed to contractors and suppliers to the private banks, which deal with these deadlines.
And Hassoun said the move by the state departments cause confusion great importance to the work of private banks and their customers because the size of those funds very large since these funds are no longer in the form of capital for private banks but are Customer deposits with banks from individuals and companies, pointing out that the liquidity position of banking The concern that does not cover the demand for restoration of the deposits in these banks has led to confuse the work of the rapporteurs and the two banks Oukuahma financial problems.
And solutions to problems in these two banks, he replied that Hassoun is expected to intensify some of the actions necessary by the private banks and the Iraqi Central Bank to remedy the situation and restore the banks that were exposed to crises, to work normally.
And the role of the CBI in dealing with this financial problem, especially as the reason was lack of commitment by government agencies the terms of the deposit and withdrawal of deposits in private banks, said Hassoun, the central bank to prepare lists of debts and credits and funding belonging to the two banks and circulated to other banks, asking them to notify him of any money back for people who deal with banks special, warning other banks from dealing with people whose names appeared on the list before payment is discharged from the funds of these banks, he said, adding that the role of the Central Bank placed in the direct supervision of the work of private banks, indicating that the central bank in fact runs the two banks special at the present time.