Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
Sign in to follow this  
DinarThug

The Iraqi Banking Sector Challenges And Remedies In 2020 !

Recommended Posts

CNN. Broadcasting The Latest From The Well Known Iraqi Economist Who Had The Previous CBI Governor Al-Alaq Attend His Book Signing Last Year !

 

 

The Iraqi banking sector challenges and remedies in 2020

 

18541.jpg


Tuesday, January 14, 2020

 

Samir Al-Nassery
 
 
 
On the occasion of the year 2020, and in view of the special and new circumstances that our beloved country is going through due to the widespread popular movement, legitimate demands for change, political and economic reform, confusion of visions, divergence of views regarding the reality and activity of our banks in the current circumstance, the effects of events and instability in the work environment, and because our banks are the first basic link in the national economy We must make clear with the analysis and evaluation of the business results of banks 2018 and 2019 and the financial indicators that confirm that they faced many challenges and obstacles to work and we will try in this paper to address them and according to the available data and our view to overcome them Requirements for the year 2020 in order to achieve stability and sustainability of the banking and work according to the strategy of the central bank and the applications of monetary policy and to maintain business results achieved even at the minimum if current conditions continued.
 
The structure of the banking system in Iraq
The structure of the banking system currently consists of 7 government banks, 76 commercial and Islamic banks, 25 merchants, 27 Islamists and 17 branches of a foreign bank.
 
Banking challenges and obstacles
First - Based on the official financial data and indicators issued by the Central Bank for the year 2018, the banking sector suffers from weak banking activity and low liquidity, deposits, revenue and profitability in some banks, especially private banks in large proportions compared to previous years, as well as the prices of their shares in the Iraq Stock Exchange fell due to The economic and financial crisis and the economic stagnation experienced by Iraq for known reasons.

Secondly, the total deposits with private banks reached 14% of the total deposits in the Iraqi banking sector with government banks by 86%, knowing that the number of government banks is 7 banks and private 69 commercial and Islamic banks due to the concentration of government deposits and accounts with government banks.

Third, private banks invest 78% of the capital of the Iraqi banking sector, but it only gets 22% of the sector’s assets and 13% of profits.

Fourth, non-performing debts amounted to 6 trillion dinars, and they constitute 15% of the total bank financing granted, and banks encounter significant obstacles in their collection for judicial, legal, and clan reasons.

Fifthly: Failure to activate and implement the decisions of the Council of Ministers and the Economic Affairs Committee of the Council of Ministers on government support for private banks issued during the previous three years.

Sixth: The inability of private banks to use excess liquidity in loans and financing for projects in light of non-performing credit at 15% of the credit portfolio.
 
Recommendations
First, raise the ceiling for banking finance in the Central Bank initiative for small and medium-sized projects and allow private banks to invest in various types of real estate, housing, industrial etc. .

Second - The government takes the necessary legal amendments to consider private banks' debts as excellent and payable debts, similar to government debts.

Third, the central bank and the government request the United Nations Development Program and Arab and international financing funds to work with Iraqi banks to issue financing programs for mega investment projects to attract foreign investors while granting them facilities and incentives in accordance with Cabinet Resolution 254 of 2019.

Fourth: The central bank should take the necessary steps to assign international auditing and classification companies for the purpose of classification of discreet private banks, because without classification of banks it is not possible to establish partnerships with solid international banks for the purpose of financing large projects or to consider the credit rating of Iraq as an approved classification for discreet banks.

Fifthly, due to the occupation of ISIS terrorist gangs, Mosul, Anbar, and Salah al-Din, the 121 state and private banks have borne the damage and losses of (1 trillion dinars) and a large portion of them are shareholder funds and deposits for customers that the government requires compensation for.

Sixth: Activating all cabinet decisions related to supporting the banking sector and supporting construction and investment issued in the year 2019 and previous years and the decisions of the Economic Affairs Committee to support private banks, in particular the following:
1 - Obligation of the Ministry of Finance and government banks to open bank accounts for ministries and state departments in private banks and not limit them to government banks according to its letter 207 dated 01/31/2019.
2 - Activating the decision to allow ministries and government departments to open documentary credits in private banks up to $ 50 million without going through the Ministry of Finance and the Iraqi Bank for Trade. Economic Affairs Committee resolution 967 on 10/21/2018.
3 - Activate the Economic Affairs Committee Decision No. 253 of 2015 regarding accepting the instruments issued by private banks to pay insurance, customs fees and taxes.
4- Activating Cabinet Resolution No. 245 of 2019 to encourage reconstruction and investment.
5- Activating Cabinet Resolution No. 378 of 2018 regarding the collection of government fees in state departments through electronic payment.
6 - Activating Economic Affairs Committee Decision No. 272 of May 19, 2015 to support private banks, particularly with regard to approval by government banks.
7 - Activating Cabinet decisions No. 313 of 2016 and No. 218 of 2017 regarding localizing employee salaries and asking government departments to localize their salaries as per their desire and not directing them to settle salaries exclusively in government banks.
8 - Activating Decision No. 253 of 3/5/2015 of the Economic Affairs Committee regarding acceptance of instruments issued by private banks to collect government taxes and customs fees.

Seventh - The Ministry of Finance compensates the banks that were affected by the occupation of the ISIS terrorist gangs. It is arrested at the Central Bank Iraqi.

LINK

  • Like 3
  • Thanks 5
  • Upvote 5
  • Downvote 1

Share this post


Link to post
Share on other sites

"Fourth: The central bank should take the necessary steps to assign international auditing and classification companies for the purpose of classification of discreet private banks, because without classification of banks it is not possible to establish partnerships with solid international banks for the purpose of financing large projects or to consider the credit rating of Iraq as an approved classification for discreet banks."

 

Yeah, I think they should too.

  • Like 5
  • Thanks 2
  • Upvote 1

Share this post


Link to post
Share on other sites

LINK

The central bank will not be blackmailed


18518.jpg

 

19th January, 2020 


The economic and banking advisor, Samir Al-Nassery

From time to time some social media outlets and some yellow channels owned by people whose orientations and purposes are poorly intended to offend national economic institutions that have clear success experiences and work with competent Iraqi national cadres come out to us

And that these channels are driven by special interests inside and outside Iraq, and they are reported and paid for, and they are always hunting with murky water and targeting our national economy and its institutions that have made clear achievements during the economic and security shocks that Iraq passed after mid-2014 and contributed to achieving economic resilience and supported our national economy. Trumpets and their press and media reports targeting the central bank on recurring and consuming topics, and that the aim of ruminating them from time to time is personal projection, public extortion, and coverage of the accomplishments achieved during the past five years

So why target? The reason, as I see it, is that the central bank insists on the need for all relevant parties to carry out its daily work internally and externally to adhere to the instructions, controls and regulations that maintain economic stability in the country, which will lead to fighting corruption and the smuggling of the dollar abroad and maintain the strength of the Iraqi dinar and the stability of the exchange rate and building the national economy properly

Although I respect the other opinion that is issued by non-specialists or from economists and monetary policy in particular, but I may disagree with the opinion that attempts to dwarf, minimize and personalize the achievements made by the central bank in facing the economic and financial crisis during the past years, which is the most difficult stage Iraq has gone through

Therefore, I invite these people to consider, even once, to preserve the reputation of the Iraqi economy and its distinguished institutions, because it is not logical to allow a well-known Arab media channel against the economic steadfastness and monetary stability in Iraq that has not been achieved in countries that have gone through circumstances similar to what Iraq is going through

Assigning accusations to the central bank and damaging Iraq’s economic reputation internationally without clear evidence or facts and without anyone being held accountable

These parties are known before others through the evidence and achievements that the Central Bank of Iraq has proven to be the first economic institution through its important achievements in supporting the national economy and achieving economic resilience and seeking to achieve economic stability in accordance with its strategy drawn up to the year 2020

 The important thing that has been achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic goal of monetary policy and the application of policies to restore confidence in international banking transactions of Iraqi banks with Arab and foreign banks and strive to build a solid and solid banking sector

In conclusion, I invite these people, leave the successful economic institutions to work with high effort and double efforts for Iraq, and they are interested in addressing your economic and banking problems in your countries because the Central Bank of Iraq and the Iraqi banking sector will never undergo blackmail

  • Like 2
  • Thanks 4
  • Downvote 1

Share this post


Link to post
Share on other sites
30 minutes ago, DinarThug said:

LINK

The central bank will not be blackmailed


18518.jpg

 

19th January, 2020 


The economic and banking advisor, Samir Al-Nassery

From time to time some social media outlets and some yellow channels owned by people whose orientations and purposes are poorly intended to offend national economic institutions that have clear success experiences and work with competent Iraqi national cadres come out to us

And that these channels are driven by special interests inside and outside Iraq, and they are reported and paid for, and they are always hunting with murky water and targeting our national economy and its institutions that have made clear achievements during the economic and security shocks that Iraq passed after mid-2014 and contributed to achieving economic resilience and supported our national economy. Trumpets and their press and media reports targeting the central bank on recurring and consuming topics, and that the aim of ruminating them from time to time is personal projection, public extortion, and coverage of the accomplishments achieved during the past five years

So why target? The reason, as I see it, is that the central bank insists on the need for all relevant parties to carry out its daily work internally and externally to adhere to the instructions, controls and regulations that maintain economic stability in the country, which will lead to fighting corruption and the smuggling of the dollar abroad and maintain the strength of the Iraqi dinar and the stability of the exchange rate and building the national economy properly

Although I respect the other opinion that is issued by non-specialists or from economists and monetary policy in particular, but I may disagree with the opinion that attempts to dwarf, minimize and personalize the achievements made by the central bank in facing the economic and financial crisis during the past years, which is the most difficult stage Iraq has gone through

Therefore, I invite these people to consider, even once, to preserve the reputation of the Iraqi economy and its distinguished institutions, because it is not logical to allow a well-known Arab media channel against the economic steadfastness and monetary stability in Iraq that has not been achieved in countries that have gone through circumstances similar to what Iraq is going through

Assigning accusations to the central bank and damaging Iraq’s economic reputation internationally without clear evidence or facts and without anyone being held accountable

These parties are known before others through the evidence and achievements that the Central Bank of Iraq has proven to be the first economic institution through its important achievements in supporting the national economy and achieving economic resilience and seeking to achieve economic stability in accordance with its strategy drawn up to the year 2020

 The important thing that has been achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic goal of monetary policy and the application of policies to restore confidence in international banking transactions of Iraqi banks with Arab and foreign banks and strive to build a solid and solid banking sector

In conclusion, I invite these people, leave the successful economic institutions to work with high effort and double efforts for Iraq, and they are interested in addressing your economic and banking problems in your countries because the Central Bank of Iraq and the Iraqi banking sector will never undergo blackmail

 

Ok, Maybe not blackmailed...  but Bribed is a whole different story. 

  • Haha 4
  • Upvote 1

Share this post


Link to post
Share on other sites
1 hour ago, DinarThug said:

LINK

The central bank will not be blackmailed


18518.jpg

 

19th January, 2020 


The economic and banking advisor, Samir Al-Nassery

From time to time some social media outlets and some yellow channels owned by people whose orientations and purposes are poorly intended to offend national economic institutions that have clear success experiences and work with competent Iraqi national cadres come out to us

And that these channels are driven by special interests inside and outside Iraq, and they are reported and paid for, and they are always hunting with murky water and targeting our national economy and its institutions that have made clear achievements during the economic and security shocks that Iraq passed after mid-2014 and contributed to achieving economic resilience and supported our national economy. Trumpets and their press and media reports targeting the central bank on recurring and consuming topics, and that the aim of ruminating them from time to time is personal projection, public extortion, and coverage of the accomplishments achieved during the past five years

So why target? The reason, as I see it, is that the central bank insists on the need for all relevant parties to carry out its daily work internally and externally to adhere to the instructions, controls and regulations that maintain economic stability in the country, which will lead to fighting corruption and the smuggling of the dollar abroad and maintain the strength of the Iraqi dinar and the stability of the exchange rate and building the national economy properly

Although I respect the other opinion that is issued by non-specialists or from economists and monetary policy in particular, but I may disagree with the opinion that attempts to dwarf, minimize and personalize the achievements made by the central bank in facing the economic and financial crisis during the past years, which is the most difficult stage Iraq has gone through

Therefore, I invite these people to consider, even once, to preserve the reputation of the Iraqi economy and its distinguished institutions, because it is not logical to allow a well-known Arab media channel against the economic steadfastness and monetary stability in Iraq that has not been achieved in countries that have gone through circumstances similar to what Iraq is going through

Assigning accusations to the central bank and damaging Iraq’s economic reputation internationally without clear evidence or facts and without anyone being held accountable

These parties are known before others through the evidence and achievements that the Central Bank of Iraq has proven to be the first economic institution through its important achievements in supporting the national economy and achieving economic resilience and seeking to achieve economic stability in accordance with its strategy drawn up to the year 2020

 The important thing that has been achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic goal of monetary policy and the application of policies to restore confidence in international banking transactions of Iraqi banks with Arab and foreign banks and strive to build a solid and solid banking sector

In conclusion, I invite these people, leave the successful economic institutions to work with high effort and double efforts for Iraq, and they are interested in addressing your economic and banking problems in your countries because the Central Bank of Iraq and the Iraqi banking sector will never undergo blackmail

 

DV, The economic and banking advisor, Samir Al-Nasser must be part of the Deep Deep swamp inside the CBI "Corrupt Squad" protecting these crooks.  I'm certain the Iraqi Citizens don't buy his false OPINIONs and damn sure our President DJT & His Administration will deal with these thieves in the near future... 👍👍

 

GO JUSTICE 

 

STOP CBI CURRENCY AUCTIONS ASAP

 

GO RV/RI

  • Thanks 1
  • Upvote 8

Share this post


Link to post
Share on other sites

LINK

Al-Nassiri: We need a systematic movement for economic reform


18518.jpg

 

26th January, 2020

 

The Economic and Banking Adviser to the Association of Iraqi Private Banks, Samir al-Nasiri, demanded, on Sunday, that there should be a systemic movement to draw a road map for economic reform carried out by the elites and economic, financial and banking competencies of Iraq and that the economic movement is based on several important economic pillars that adopt a new philosophy to manage the economy and achieve the central goal of By creating sustainable development, achieving diversification of resources, developing economic and human structures in order to properly build the national economy and building the introductions to the transition to a social market economy

He added in an interview with "Al-Iqtisad News", "We need serious work for the economic transformation and to look to the future and the available capabilities and with a realistic and ambitious road map that depends on managing and distributing public money in a transparent and fair way, provided that the beneficiary in the results and outputs of the people and that the citizen feels that his national economy, resources and resources are dedicated to ensuring A decent life, as stated in the articles of the permanent Iraqi constitution, in a way that creates prosperity for society

Al-Nusairi asserted, "The necessity of setting a new reform approach by our Iraqi experts and competencies, and it is okay to use the houses of solid international expertise, especially from countries that have successful experiences in economic construction in modern history, similar to us in some circumstances and problems, and can benefit from the experiences of Japan, China, Malaysia, Singapore, and some Other countries that have adopted a social market economy system

Al-Nusairi pointed out, "The possibility of defining the road map to achieve an approach to economic reform in Iraq according to several data, the most important of which is the formation of the Supreme Council for Economic Reform to legislate a law binding the ministries to implement its decisions and has the power to follow-up, monitor, and evaluate, and is headed by and members of a group of governmental experts and the private economic and technocrats

He pointed out "the importance of developing policies and mechanisms to diversify the sources of financing the public budget and not relying on oil only," noting that "the directions of reform require moving to the central administration of the economy so that the principle of (centralization of planning and decentralization of implementation) is implemented, and this means that the Supreme Council for Economic Reform takes charge of Plans, policies and distribution of their implementation to specialized councils for reconstruction and investment and the implementation of development projects in the economic and human fields. These councils are the Private Sector Council, the Construction Council, the Small and Medium Enterprises Development Authority, the Public Service Council, and the Product support and Protection Council Local, as well as the achievement of sustainable economic development and create and create an investment climate for local and foreign investors and motivate, encourage and ensure that contractual rights to attract their capital and protect them from the pressures of spoilers

He said that "the axis of reform should include providing soft loans to finance small, medium and large projects and establishing a legal and institutional system for managing, developing and developing them, as well as issuing and amending the laws of the legal environment to regulate the economic process. This means issuing new laws instead of laws issued in 2004 by the American civil governor Notorious Paul Bremer

Al-Nusairi stressed on "the necessity of activating investment in the agricultural, industrial, energy, tourism, services and housing sectors, as well as working to reform, develop and develop the banking sector through monetary policy applications and regulating the relationship and restrictions that govern financial and monetary policies, as well as the serious approach to reforming the tax, financial and customs system." Handling cases of failure to achieve the required growth rates in national income and exceeding the rise in unemployment and poverty rates

  • Thanks 6

Share this post


Link to post
Share on other sites

Our economy and reform movement

 

Monday 27 January 2020

 

Samir Al-Nassery
 
 
The current circumstance that our beloved Iraq is going through is sensitive and exceptional and the most prominent characteristic is the popular movement of peaceful demonstrators and legitimate demands for radical political and economic reform, and to present an analysis of the reality of the Iraqi economy, which is what interests me in this article, as the observer and observer of the role of government institutions during the lean years that Iraq has gone through He has been going through it since 2003 

Regarding the management of the Iraqi economy, it is noticed that there are failures and challenges related to the loss of methodology, the lack of clarity of policies and programs, and the inconsistency of the seventeen strategies that were prepared in partnership with international organizations, Iraqi experts and consultants with the reality of the mono-resource Iraqi economy, which depends mainly on oil rents, which led to a defect Structural and structural in the economy and the lack of stability in the financial system and monetary system due to the deficit in non-oil revenue and in the balance of payments and the annual deficit in public budgets and the lack of coordination between the fiscal and monetary policies.

Added to this is the mismanagement of public funds, financial and administrative corruption, and the apparent weakness in the economic leaderships responsible for managing ministries and government economic institutions, as well as not giving an active role to the private sector in decision-making. 

The economic ..
All the above failures in light of political and security instability and the war on terrorism have confused the economic landscape and the lack of visions to build a solid national economy capable of drawing the prelude to the transition to a social market economy that, according to my belief, is the solution to our Economic reality. 
 
The failures and challenges above have created mistyness for our economic future among many of our economic elites, but I believe and many economists believe that there are promising and bright points and experiences carried out by some economic institutions during the past years, clearly and prominently during the years (2015 - 2020), which are the years of the economic and financial crisis Asphyxia and one of the most prominent bright points in this process is the experience of the Central Bank in supporting the national economy while maintaining its functions and goals set in His law.

The most important thing that the Central Bank has achieved is its contribution to achieving economic resilience and promoting the decisive victory against terrorism. I do not want to clarify executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the years (2016-2020) and its strategic banking projects for the next five years. The results achieved On the scope of applications of monetary policy internally and building international banking relations with international financial organizations, the most important of which are official reports issued by them, confirming the success of the Central Bank policy in achieving an important transition to the Iraqi economy from a stage Gray to the usual follow-up, like other countries with stable economies after the liquidation of all negative comments installed on Iraq.

And as far as we know we are interested in the economic, financial and banking affairs in the executive procedures of the means of applying monetary policy, the bank has played a large role in supporting the national economy and strengthening the state treasury by (21) trillion dinars in addition to its contributions and multiple initiatives to stimulate the economic cycle, enhance liquidity with banks and continue to pay salaries Employees and contractors and farmers ’entitlements, reaching to extend coordination bridges between the fiscal and monetary policies, proposing economic and structural policies to prepare public budgets for the coming years, and attempts to restore confidence in the banking system.

The Central Bank has proven its ability to interact and analyze work obstacles and create conditions to overcome challenges. However, there is still a long way to go to build a sound national economy so I call on the national economic elites to interact with bright points and experiences and enrich them with their ideas, visions and proposals to build a solid national economy And a solid banking system, overcoming challenges and correcting wrong paths and transparent and calm dialogues, because insulting our national economic institutions that have achieved success experiences during the economic and security shocks that the country has gone through since mid 2014 is
 للبلاد.

LINK

  • Like 5

Share this post


Link to post
Share on other sites

 

LINK

Al-Nusiri: Overcoming our economic crisis depends on stimulating production and diversifying the sources of revenue


18518.jpg

 

30th January, 2020

 

Economic and banking expert, Samir Al-Nusiri, said on Thursday that the Iraqi economy, through study, analysis, capabilities, and available factors, can overcome imbalances, deviations, and poor performance in the economic structure and achieve balanced and diversified economic and structural reforms of the economy, with the assumption of transcending the objective and subjective economic conditions that Country lives

In his speech to Al-Iqtisad News, Al-Nusairi added, “Stimulating, encouraging and supporting the private sector in accordance with the vision of the strategy of developing the private sector (2014-2030), which is based on what is stated in Article 25 of the constitution which states (developing a vital and prosperous national private sector locally and regionally competing And integrated globally with the aim of achieving economic diversification, sustainable development and job creation) is a necessary and appropriate step

 He indicated "the necessity of leaving the rentier economy dependent on 93% of oil revenues and developing other vital economic sectors, agricultural and industrial, through the restructuring of state-owned industries and the gradual shift towards the private sector, and encouraging partnerships with local and foreign investors as well as, Consider the legislative environment for the work of the industry and provide the infrastructure to secure the requirements of the work environment, and expand the establishment of industrial zones

 Al-Nusairi also counted, "Promoting the reality of agricultural production and livestock, providing effective supplies and treatments for fields and farms, maintaining irrigation and drainage projects, supporting agricultural products intended for export, improving the quality of seeds and ensuring the state's prices, as well as providing support to small and medium enterprises and granting soft loans, to ensure the availability of resilience and economic advancement

He stressed that "the country's suffering from its suffocating economic and financial crises for the above reasons has not gone through since the 1990s and the imposition of the economic blockade, due to the lack of sincere and real intentions for reform, the loss of methodology and structural imbalance in the economy as well as the mismanagement of public funds and the failure to approve the general budget for 2020 , Not to mention disposing of the country's money without rational economic and financial planning

Al-Nusairi pointed out that "the reports issued by the International Monetary Fund indicate that Iraq and some of the oil-producing countries will suffer from the rent of oil and its price fluctuations down and up, which will fail all the development plans of the countries for the coming years without initiating the development of other resources and diversifying the sources of revenue, and since the country It has the elements of resilience and economic advancement and is represented by having the fourth oil reserves in the world and water resources in addition to a workforce estimated at more than 10 million people able to work, and experts in the economy and money possessing academic and executive experiences, he can overcome the crisis and other A healthy c, by providing an appropriate work environment and ensuring an encouraging investment climate to bring in private capital and contribute to economic development and stimulate the productive sectors in agriculture, industry and tourism and review the structure and presentation of the public budget

 Al-Nusairi concluded his speech by referring to the insufficient legislative environment for economic management and the laws that regulate economic work, which requires reconsidering and making fundamental adjustments for all of them in line with the new situation of economic management, to reduce unemployment cases that rose to more than 30 percent and the poverty rate that exceeded 25 percent, which are indicators Negatives indicate the aggravation of the Iraqi economy crisis

  • Like 1
  • Thanks 2
  • Upvote 3

Share this post


Link to post
Share on other sites

Salary localization environment

 

Friday, February 14, 2020

 

Thamer Al-Heims
 
 
There are 17 million Iraqi adults who are away from using the financial and banking system and its various tools until August 2019, according to Islamic Banking magazine (p. 11), quoting the governor of the Central Bank.

By this we realize that the banking sector in general is in an unenviable position, and what strengthens that and testifies to that the hoarded cash mass is still under (pillow or cache) despite its gravity of more than 70 percent of the total issued cash, and the magazine also indicated that an increase occurred by 10 Percent recently, perhaps due to localization of salaries.

Emiratisation is through the three banks of the Rafidain and Rashid and the Iraqi Bank for Trade, as well as some private banks. We hope that the settlement process will take a smooth flowing path, as it will form the infrastructure of banking business in general with a cash block provided by the state through its operational budget which is simply most of the oil revenues as they are Budget indicators 2020, hence the importance of recycling this huge balance to enter in our internal economic cycle exclusively to secure sustainable development.

There are those who say that the major process requires the availability of its full requirements and entitlements. Governmental banks do not go towards the goal unifying their performance or complementarity.
The Rashid Bank, for example, moved from the category of the card to the stage of the master card; that is, it moved to globalization while the two tributaries ranged in the first box, although it has The lion's share of the salary balance for employees, retirees, welfare, displaced persons, political prisoners and martyrs.

We do not find an explanation for this, nor a time limit specifying the process of moving to the MasterCard stage, is it because it has the largest share? This environment will inevitably be reflected in the process of localizing salaries, if distributed among private banks, as the references will differ, then performance.

If we know that this process will revive the banking sector with 76 banks with 1310 branches, this will confuse the work of the banking sector at least in terms of credit, as its conditions differ from one bank to another in terms of guarantee and then in terms of the interest that some strive to cover risks and contingencies Whereas, a group of stakeholders seeks to expand the circle of using the financial and monetary system and its various tools.

The Emiratisation initiative came as a first step for the next thousand miles in this sector to liberate it from traditions and poor performance so long as the banking business marred with its official and private wings, especially the last one, so we start towards institutionalization and transparency, especially after the launch of the Deposit Guarantee Company, and do not forget the role of the National Insurance Company and its sisters in securing risks The credit, which contributes to reducing the interest that reached 9 percent in one of the banks that gives an advance without a guarantor, so that the beneficiary ultimately pays about half of the advance amount as interest within five years, in addition to an administrative commission of 150,000 dinars in turn between the key card company and the bank, so is this environment Suitable for For the cash jump when the localization of salaries and benefits ?.
LINK
  • Like 1
  • Upvote 3
  • Downvote 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.