“Chapter VII, and inhibitors of banking” double the investme

[Stillw8n]

“Chapter VII, and inhibitors of banking” double the investment process behind the failure of banking systems in the

On: Saturday 02/25/2012

Likely a number of specialists reasons for failure of systems, banking in the country as a result of negligence, which deliberately former regime because he was heading towards political affairs in general, leaving things banking and economic side, said specialists that Iraqi banks are banks (almost dead) due to interruption from the world, as well as not to bring equipment Alaketorneh modern, calling for the need to expand and attention ABM banking because of their role in the development of the investment process in the country. justified the financial expert on behalf of Jamil Antoine “: reasons for failure of systems, banking in the country, a result of the deterioration of the political situation as well as the situation in Iraq under Chapter VII, which status as punishments for an international country and which prevent the Iraqi banks to contact banks the world and develop dramatically because this item select the possibilities of banks art.

noted Antoine “: that the international banks exercised more than 100 investment process on the contrary what is now in Iraqi banks that are not exercised only small percentage estimated 7%, due to the inability of Iraqi banks to provide financial guarantees as well as making the Iraqi banks cut off from the world as a result of restrictions imposed on them.

And Antoine “: that the process of investment and development stands impediment to the failure of Iraqi banks because banks and modern art is one of the basic necessities to create an attractive investment environment, calling for the need for security companies advanced as it is one of the requirements essential for the growth and spread of investment in the country.

And regrets Antoine”: the the inability of Iraqi banks to possess great potentials for the acceptance of investors due to the weak their capital, which does not exceed $ 80 million and this capital is very modest compared with international banks and banks of the neighborhood.

I suggest Antoine in his interview with the (newspaper Citizen News) “: the most important ways for the advancement of the level of the banking sector in the country is by shooting by private banks for a real competition to provide better services, stressing the need to reduce interest rates to encourage domestic investment, because the interest rates in the world is that by very few, as the prices of the benefits of America less than 1% on contrary, what is in Iraq as up interest rates to 11%.

and seal Antoine Speaking “: the need for selection of personnel with a level of competence and capability and to open the sessions of their own, and the introduction of the electronic system to accept the instruments and increase the link of Iraqi banks with international banks and the disposal of Chapter VII, and to choose the elements of efficient basis of professional and avoid splitting the party and sectarian.

For his part, the other said a member of the Finance Committee MP Abdul Hassan Yasiri “: that the Iraqi banks before the U.S. occupation has reached us is the banks (dead) did not provide anything tangible that since the former regime was a system the public sector in the country is a system dominant on the political degree is essential.

He continued: “Since 09/04/2003 make way this year’s field of banking in the private sector, which led to the operate normally, as well as to the existence posts by foreign banks, noting” that the banking government or the private sector is one of the best Chierfat that existed in the former regime and with this but it is below the levels of banking world. adding to it “: that the process of re Hikalh banks Asttaat make a profit for the bank Rafidain and Rasheed for the year 2007 and this process is still going are not evil in the recent, and wished “of those who work in banking in Iraq heading for a train Modvin banks and work on the introduction of modern equipment and speed up the process of restructuring in order to Takma banks role is important because it is the body that can do through which all business Business and Finance and represents the substrate that are important to the national economy.

He Yasiri “: that Chapter VII has a big role in the failure of the banking system in the country, in addition to the debt the world that has made government banks can not do its job in the world, stressing that creditors influence on the work of these banks and seize Iraqi funds from the decisions of the courts. He concluded his speech with Yasiri (Citizen News newspaper): “Chapter VII that affects not only the economic and financial terms, but even on politically in Iraq.

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