Bankers: the need to integrate small banks with large capita

[Stillw8n]

Bankers: the need to integrate small banks with large capital increase financial market
agree with bankers on the need for integration of banks, small surnamed the Great, for the benefit of banking and the capital increase.

In conversations with the Agency (news) assured bankers that the merger will benefit the Foundation bank even after a while, as noted others not to merge the bank, calling for tighter control over the bank in violation of rules set for them by the Central Bank.

and the president of the Association of private banks in Iraq, Abdul Aziz Hassoun, the central bank to develop plans and laws governing the process of integration of the micro-banks in Iraq, according to the regulations and laws in force in the world, noting that the merger will be based on policies set by the monetary authority.

stressed Hassoun said in a statement (of the Agency news) on the need to encourage banks to merge through the incentives given by the government of working capital to support or soft loans, to be the same bank with a large capital is able to provide insurance and guarantees in the financial market.

He said Hassoun: The complaint continues to private banks small that it is able to finance large projects, the banking unit integrated result of the merger, will cover the need required for financing and will contribute to the economic development of the country, and went on to say: if there were real will by the Iraqi banks to accommodate new developments and modern changes that occur to the world, they will receive the acceptance and the presence of the mass-market money world the fact that this market depends on the size and financial efficiency of each bank.

For his part, Board Member of the Rasheed Bank, Hussein Kazzaz the need for integration of the private banks with capital the limited funds at the moment the fact that her active role in the financing of large projects and contribute to the development of the Iraqi economy.

The Kazzaz said in a statement (of the Agency news) that the private banking sector has the ambition to compete with international banks, but lacks the bonds and the financial support by the government, in Most of the world’s support is based on studies of the feasibility of reliable, but in Iraq depend on strong guarantees not available to these banks.

He Kazzaz: to compete with Iraqi banks with global depends on the type of skills and efficiency of administrative staff and financial in addition to banking products abroad.

and Zkredo Management Bank good that more private banks jointly with foreign capital and has shares of foreign companies and Arab, as a result of controls established by the Central Bank, and continued: if the bankrupt would pull them leave.

For his part, saw the Chairman of the Economy Bank Husam Obaid Ali in a statement to the reporter (Agency news ) is not necessary to be a merger between banks at the moment as a result of the large number of violations that occur to these banks, which reflect a bad image for the banks good and committed, calling on the central bank to tighten oversight of private banks and compel them to apply the instructions completely.

The slaves: the calendar banks not through a merger, but to intensify control the central bank to banks that operate in secret.

ruled out on the reach of Iraqi banks to the level of competition with international banks of good and sophisticated in the world, and continued: If you are not lifting the seventh item of the resolutions of the United Nations, will continue to Iraqi banks, “tied “Whether public or private restrictions that prevent them from competition and to deal with international banks.

The Chairman of the Board of Directors of the Bank economy: still the government banks of Barashid and Rivers is unable to provide financial support and services to private banks, indicating if the lifting of the seventh item is the two banks more supportive of domestic banks on He called on the government to financial and technical support to domestic banks to be foreign relations strong level of international banks significantly.

The at the end of the year (2010), the number of banks operating in Iraq have arrived in (43) banks, including (7) state banks of total capital towards FIRST Ha (6036) billion Iraqi dinars, as well as (36) private banks with a total capital of up to (202) trillion dinars

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