CBI calls for the separation of the central departments of banks to their respective owners

[NB2D]

Create a bank shareholder wheel drives the investment in the country

Central Bank called for the separation of the administrative organs of government and private banks and their owners, indicating that the intervention of the management of banks, owners hurt the whole banking process.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that “government and private banks are still suffering from their owners in the formulation of intervention policies, bank, so banks must separate departments for owners.”

He explained that “the owner of the banks, government is the state, so affected by these banks are state policies that interfere with the administration,” adding, “The private banks are subject to the interests of owners who are often from families of the rich are trying to push banks towards their own interests.”

The benefit of counting, last Monday, in a statement to “Twilight News” Rafidain and good government, “obstacle” to the development of the Iraqi banking system which has to cope with Iraq draws to a market economy.

And the favor of that “intervention Madaom management of the owners of banks reflected negatively on the development and performance.”

The Iraqi government is still sticking in its financial transactions which are limited to government banks by 85%. In the same context suggested a member of the Committee of Economy and Investment Deputy Faleh Ziadi the establishment of an Iraqi bank shareholder joint private and public sectors, to boost investment in the country through its financing of projects and to ensure investors’ money.

He said Ziadi’s (newsletter) that the wheel of investment in Iraq is still weak as a result of obstacles several most important of the banking sector, being a backward technology and makes little money, which would lead to the reluctance of investors to enter Iraqi territory for the purpose of investment, the fact that the investor looking for an appropriate environment for investment and that keeps on his property from loss.

He stressed on the necessity of establishing an Iraqi bank shareholder jointly by Iraqi banks in the sector of government and private sectors to form an Iraqi bank chief with a capital abundant helps to finance investment projects and services in the country through granting of loans, in addition to the employment of staff banker scientific trainees to technology global banking to be a bank discreet contribute in the promotion of the economic process in the country.

The member of the parliamentary economic committee to be one of the solutions for the advancement of the process of investment in the country is to support the Iraqi private banking sector, ie, “private banks” by the federal government and to provide all their needs in order to have a real and effective role in promoting investment in the country

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[Goldiegirl]

He stressed on the necessity of establishing an Iraqi bank shareholder jointly by Iraqi banks in the sector of government and private sectors to form an Iraqi bank chief with a capital abundant helps to finance investment projects and services in the country through granting of loans, in addition to the employment of staff banker scientific trainees to technology global banking to be a bank discreet contribute in the promotion of the economic process in the country.

A very important piece for this RV is the banking structure and policies. There telling us right there it's an obstacle. Chapter VII, HCL and Erbil are not the only ingredients to the RV cake.

Thank you for posting...good article.

Edited April 5, 2012 by Goldiegirl

[zigmeister]

I have believed for a long time, the banking structure was the obstacle to the RV. The other stuff, while important but not necessary.

[Goldiegirl]

You are correct Zigmeister....the IMF is mandating that Shabibi get these policies and structures in place. It was all defined to the CBI last year.

Without that you can forget running millions of transactions through Iraq and the rest of the world.

[zigmeister]

Very true Goldie. As a matter of fact, if, God forbid this turns in an RD, if the banking structures are not in place, an RD is doomed for failure. The RV could be devastating without structure. They need the accounts, they need the loans, they need transparency, the need other banks to invest in them......ATM machines, and so it goes.