Economists stress the need for the development of the Iraqi

[Stillw8n]

27/9/2011 | (Voice of Iraq) – Leila Ahmed – Radio Free Iraq indicates economists
from time to time to the multiple problems experienced by the Iraqi banking
sector, including sagging career. In an interview with Radio Free Iraq, the
economic expert said Helal Taan that this particular problem without turning
specifically the development of state banks, which exceeded the number of
employees in the Rafidain and good more than 15 thousand employees “do not enjoy
most of them with banking expertise is required.”

He explained that the density
bank is very high in Iraq reached between 46 thousand and 50 thousand customer
against the bank one while the density of the global banking 10 thousand
compared to the bank one which underlines the need to increase the number of
banks and the provision of human resources “specialized.” The International
Monetary Fund demanded the Iraqi government to supervise the Iraqi banking
system for taking damage growth prospects in the country, explaining in a report
published recently on the sidelines of meetings of the IMF and World Bank in
Washington, it has to be the development of the Iraqi banking system in order to
attract foreign investment and diversify the productive economy of oil. The
report said the international presence of seven state-owned banks dominate the
banking system with the ownership of 89% of bank deposits in the country. and
other problems experienced by this sector is illustrated by Taan that “the
capital of Iraqi banks is not large so that you can grant loans for investments
and contribute to the Growth. ” Taan and acknowledged the view of the
international report on the “government domination of the banking system in Iraq
at a time when private banks than double their capital, which focuses its work
on the basis of the granting of loans against the benefits.” Taan He also
pointed out that the Iraqi banking system by contributing 7-8% of GDP increase
in the ratio of up to 28-30% for Gulf banks. For his part, Director General of
the Agricultural Bank Mohammad Hadi fact that the Iraqi banking “need to
restructure include addressing the laws and regulations in line with the
previous stage and address the sagging career. ” He added that the management of
the Agricultural Bank began to organize specialized courses for its members
inside and outside Iraq in order to develop their skills. He also expressed hope
that the first half of next year, a quantum leap to the level of work expected
of the bank specializing improve banking services provided by banks to the level
of the region.

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