Director of the Association of private banks is proposed to increase interest rates on bank deposits to encourage them

Thursday, 29.03.2012

Baghdad (news) .. The head of the Association of private banks Abdul Aziz Hassoun to increase the value of the benefit of bank deposits to encourage citizens to deposit their money in banks, in order to invest in the development of the country's economy.
The Goldfinch (for the Agency news) on Thursday: should encourage citizens and owners of the funds to deposit their money in banks by increasing the interest rate currently estimated (3%) by the Central Bank, despite the fact that the Banking Act for the year (2004) granted freedom to banks in determine the interest rate, creating confusion in the work of banks and lack of coordination among them.
He suggested Goldfinch: Increased interest rate for funds deposited for each bank and set up a fund to collect funds from bank interest that come looking for ways of loans granted by banks, to give the rate of interest on funds deposited to it, so do not affect the banking business, pointing out that the value of the loan interest is usually be more than the value of deposits of financial interest to encourage citizens to invest their money through banks. / Finished / 8. d. Q /

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