Sunday, March 25, 2012

Economists: marginalization and under-law made obstacles stagnant private banks

Sun 03/25/2012

Baghdad (news) / report / Qusay Adhami / .. Since the inception of private banks in Iraq, through trying to make it an important element of the national economy and investment, leading to the establishment of more than thirty of them banks, notes involved in the economic survival of stagnant and limited possibilities.
They are still small because of limited capital, which led to the reluctance of some government institutions and alienated them, as indicated by the views of most financial specialists in the matter who spoke (of the Agency news) in this regard.
And attached director Bank of the Middle East Investment Farooq Hamid Zainal Abidin said that some government departments have a reaction of some private banks in the previous period because of some negative points that marred.
The Zine El Abidine (of the Agency news): that the existence of some private banks lagging does not mean the absence of large banks have a civil capital of the large and has a capacity for economic development, and have advanced to the classification of the Central Bank.
The Administrator proposes the Association of Iraqi banks Halawi appearance on the government departments not to boycott the private banks because of bank or two may tarry in their performance, and can negotiate with them and demand guarantees, if necessary.

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