Chapter VII obstacle in the way of advancement of the banking sector

[Markinsa]

Chapter VII obstacle in the way of advancement of the banking sector

The entrance to the Iraqi Central Bank in Baghdad

30.06.2011 Faris Omar , Khalid Waleed

Long live Iraq, long years in isolation almost completely from the outside world and its development because of the adventures of the former regime, and this isolation to the failure of vital economic sectors behind the accelerating progress at various levels, and contributed to the consecration of such failure the policy of the previous regime of central planning and controlling the bureaucracy on the national economy in all joints. and the banking sector was most affected by this international isolation and economic Alawamra at home.

After eight years of change continues to Iraqi banks operate in ways that primitive remains of the Iraqi consumer deals in cash at a time credit card substitute for this form of payment. Radio Free Iraq, met with central bank adviser appearance of Mohammed Saleh, who described the case of the Iraqi banking sector underdevelopment, noting to the dominance of state banks in ways that work on the worn and weak activity of private banks on the other. is the failure of the banking sector of the reasons behind the reluctance of foreign capital from coming into Iraq.

This is true on the international banks, large still exist modest a negligible role in Iraq despite the fact that these banks can deliver expertise and working methods developed to their Iraqi counterparts as well as its contribution to the advancement of the Iraqi economy in general through its financial services to local businesses.

In this regard, the central bank adviser brought us the appearance of Mohammed Saleh Chapter VII notorious as the leading obstacles that block the entry of international banks and capital investment in general to Iraq. He said that the provisions of Chapter VII, which states that Iraq is a threat to international security after eight years of change discourage foreign banks and deterred from coming to Iraq.

He also noted the benefit to the failure of the payments system, which prevents the contribution of international banks in the presence directly in the financial sector of Iraq, noting that Iraq is still considered his cards cash hand while, all banking transactions done through the Internet. economic analyst Basil Jamil Antoine summarized the development of the Iraqi banking sector depicting unpleasant reasons of security and bureaucratic and discriminatory practices against the banking sector, NGOs and the overall lack of banking culture both between the level of departments or citizens. in 2004 the government issued a law removes all the obstacles that prevent the coming of foreign banks, and provides various incentives to encourage them to come. But what the laws say something on paper and in practice on the ground is quite another. more details in the audio file:

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[Alexyn1006]

Link not working.

Edited June 30, 2011 by Alexyn1006

[menholt]

link is at the top..blue headline

[FrankenSLI]

So in other words they are still dragging their feet and have not exited chapter 7. Now they whine and cry because of their own incompetance.

[rapidrex]

So in other words they are still dragging their feet and have not exited chapter 7. Now they whine and cry because of their own incompetance.

OH NO Franken...this is just smoke and mirrors, don't you know?

[nowhammies]

OH NO Franken...this is just smoke and mirrors, don't you know?

Love it....I sense you are extremely tired of the all bs too.

Time to step away from this for about six months or so. Going to suggest to my family members that they cancel their VIP memberships too.

Wasn't too impressed with the last chat either.

[cooked]

Love it....I sense you are extremely tired of the all bs too.

Time to step away from this for about six months or so. Going to suggest to my family members that they cancel their VIP memberships too.

Wasn't too impressed with the last chat either.

Oh thats what that was, a chat.

I thought it was a cluster jam.

[wpsmit]

Oh thats what that was, a chat.

I thought it was a cluster jam.

+1 I couldn't tell what was asked and what was answered. Just a whole bunch of people chatting at the same time

[brandedbabe]

You guys need to put the articles in order to understand them....from what I have read the UN provisions over the DFI were keeping them from exiting Chapter 7. Now those provisions have been removed they could assume control over those funds if they needed to. Next time they get the chance to exit chapter 7 they will...IMO. In the days ahead we should look for a rate change (rv) and lower denoms being issued, not necessarily in that order. I do not believe they need to have Chapter 7 removed to go forward with the removal of 000 process based on Shabbs own statements of having 7-10 days to complete the process and also reading in the same article that the process is complete.

The rv is not the final step for Iraq and if half of the loans given to Iraq is true I highly doubt they release Iraq from the strangle hold without them making various moves such as rv that seem to be in the better interest of the world...

Go RV...

[randalln]

You guys need to put the articles in order to understand them....from what I have read the UN provisions over the DFI were keeping them from exiting Chapter 7. Now those provisions have been removed they could assume control over those funds if they needed to. Next time they get the chance to exit chapter 7 they will...IMO. In the days ahead we should look for a rate change (rv) and lower denoms being issued, not necessarily in that order. I do not believe they need to have Chapter 7 removed to go forward with the removal of 000 process based on Shabbs own statements of having 7-10 days to complete the process and also reading in the same article that the process is complete.

The rv is not the final step for Iraq and if half of the loans given to Iraq is true I highly doubt they release Iraq from the strangle hold without them making various moves such as rv that seem to be in the better interest of the world...

Go RV...

Excellent observation BB

I see your on the ball great post.+1

[Ironwolf1974]

Oh thats what that was, a chat.

I thought it was a cluster jam.

Exactly this post which makes not want VIP.

Adam is highly respected, i know. But isnt he justlike us?

Where does his intel come from?

Anyway iraq needs to get it together.