Banks hopes to lift a ban on dealings with the ministries

[misty969]

Banks hopes to lift a ban on dealings with the ministries

06/06/2011

Expectations of achieving the capital of 3,500 billion dinars

Baghdad Yasser incumbent

Response to the decision the Board of Directors of the Iraqi Central Bank by requiring banks to increase their capital up to 250 billion dinars in the 06/30/2013, in stages, has taken the initiative of private banks alone, the implementation of the resolution's content.

This was announced by the (morning) Administrative Board member of the Association of private banks in Iraq, Ziad Hashem Abbas said, although the follow-up CBE decision was limited to private banks, they took the initiative actually to abide by some even exceeding the minimum limit set where it reached the capital for each of 200 billion dinars during the 2011.

He added that this commitment in itself reflects the desire and the continuing response to the developments and requirements of the promotion and maintenance of financial entities to private banks in preparation for the performance of its role in financing and assign the various economic activities.

He said in return, requires government agencies to initiate an employer to expand its dealings with private banks to enable these banks to invest their capabilities and potential of art that are consistent with the global performance of the banks. And expect Abbas to reach a cluster of capital for private banks to about 3500 billion dinars, which block large investment should pay attention to it and not be overlooked and Aigaiha disabled where it has 32 ​​banks in addition to the 9 branches of Arab banks and foreign and all are using the banking systems, and modern means of global communication through the swift start to the payments system, which was founded by the Central Bank and the settlement system overall.

He pointed out that some banks are already implementing the electronic clearing system earlier this year, is expected to be applied by all banks beginning next July, which Sehl collection Akiem instruments to calculate the stinger within a period not exceeding 48 hours, and concluded that a member of the governing body of the Association to say that we are waiting to take the initiative financial players As promised by the Minister of Finance during his recent meeting with a number of private banks to activate and expand the role of the private sector and private banks in particular and give them a wider area in financial transactions as well as looking forward to assign a monetary authority of the Central Bank of Iraq, which monitors and oversees the work and performance of private banks approved.

It should be noted that the decision of the Central banks are required to raise their capital gradually and in accordance with the following proportions 100 billion dinars at a minimum, and as of 6/30/2011 and raises to 150 billion dinars as of 30/06/2012 for up to 250 billion dinars as of 06.30.2013 has amounted to Some banks and the country's 12 banks this ratio as other banks seek to achieve the objective and the Department are seeking the possibility of mergers and negotiation to achieve these ratios.

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