The performance of government and private banks is still limited
07/07/2013 12:00 AM
Two: the lack of will for change and the weakness of the culture of citizen behind
Baghdad - Mostafa Hashemi at the time in which it called an expert banker to the need to raise awareness and banking culture among citizens for the advancement of local banks, said another expert that the development of the banking business of government depends on the implementation of the restructuring banking completely and the existence of the will to change administration. expert stressed banker it is possible to establish types of new accounts in banks along with my savings and current account established them currently in government banks. manager said banks in the ministry Hilal Taan told (morning): It is possible to work systems, bank accounts after new provision of ground and appropriate environment to that which is spreading awareness and banking culture and the development of thought citizen and urged him to use modern technology in banking transactions. pointed Taan that savings account in force in the State-owned banks give $ 40 thousand dinars per year per million, while the current account does not give such These benefits, explaining only that if the move legal period, amounting to 5 years not to move the account withdrawals and deposits, the account will be closed automatically. stressed Taan that the development of the banking business depends on the evolution of banking culture for citizens and the extent of acceptance to automate any transfer cash to electronic through the use of smart cards of different and diverse in Iraq. According to the Central Bank, Iraq has one of the most payment systems, sophisticated electronic in the world, a system responsible for the exchange of payment orders between banks automatically using a network safe and effective. confirms the CBI keen to reduce the use of cash (CASH) in the country, and go to automate the processes of settlement of checks, payroll and activation of automation systems for electronic card, to keep more cash in bank accounts. And seeking to bolster confidence in the economy through the creation of a safe and sound banking system and competitive available to all. Apparently, there is a delay in the adoption of these technologies in the banking business of government because there is no real will to work structuring of government banks and to isolate the capital from the administration, where He banking expert Majid picture that the development of the banking business depends on the will of the change in financial departments, banking and which is now almost non-existent. said Suri told (morning): The restructuring of the banks are issuing instructions and regulations that explain the law and in accordance with the recommendations of the Basel I and II for the year 2011 which has not been applied yet fully all indicators This requires the preparation of the budget according to the Basel standards and international standards. explained that for the Rafidain and Rasheed has been preparing all of the studies and recommendations have been trained 700 employees from both banks and the Central Bank in addition to preparing recommendations for the organizational structure and operational aspects and financial aspects . between've taken the supervisory Supreme responsible for the subject of restructuring, which consists of the Minister of Finance and the Governor of the Central Bank and the Financial Inspection Office, a decision the need to implement these recommendations with the action plan, but so far have not been fully implemented, but carried out in part by the Rafidain and Rasheed, He pointed out that there is a new law for banks governmental system is based governance or governance remains so far in the Council of State to come in conformity with the studies. stressed that the reason for the partial implementation of the recommendations and its failure to implement entirely due to the absence of the real will for change being difficult and not easy, explaining that the restructuring means the separation of capital for the administration of any sense that the managing director of the bank (for private banks) is responsible for the disposition money while the Director-General or the Chairman of the Board (in government banks) should be responsible for issuing administrative orders and plans to invest that money without having the authority to act directly and leaving it to the governing body for banks-governmental organizations. pointed figurehead that the banking business in Iraq does not match the criteria global banking in other countries due to the adoption of electronic systems in modern state-owned banks and restricted to a number of private banks, which generates a gap in the work and coordination between each be victim is a citizen. , and pointed out that the role and performance of government and private banks is still limited despite the existence of 53 banks in Iraq between government and civil pointing out that Iraq was until recently considered an important source of export competencies banking good to the world. , he said international banks operating standards and specifications agreed international while we find our banks are looking to the government to recruit money, and predicted that he would not be for the banks a clear role and moving without the development of the private sector, pointing out that the banks two branches of public and private still without ambition it has not seen any development in the working principles فالمصارف own is able to determine their goals because they rely on government funds. called Suri the State Council to speed up sending the Banking Act to the new House of Representatives with a view to approval and legislation commensurate with the need for Iraq to promote the banking sector because it features contribute to the development of this sector and qualifying to take the desired role in the economic development process. | |
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