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Hue Mi
11-15-2013, 07:40 PM
Federation of private banks to merge small banks and underlines that the best solution for investors and funds (http://www.almadapress.com/ar/news/21252/%D8%A5%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D9%8A%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D9%89-%D8%AF%D9%85%D8%AC%D8%A7%D9%84)

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Author: ASJ
Editor: AF, RS
13/11/01 17: 46
Hits: 147
Baghdad/range press

The Union called on private banks, community banks, small to merge assets to make them "giant" databanks for investors who need huge funds, among the banks don't render the volume of investment transactions across the country, the absence of a specific law to "merge".

He said private banks Association President Adnan Chalabi told the (term), "the work of private banks still need a lot of support not only from the Iraqi Government, but even by the bankers themselves because some of those banks are still small and not clog the size of investment operations in the country."

Chalabi added that "the solution may be applied at the present time is to incorporate those banks and giant to serve investors who need large sums to support their projects that small banks cannot offer them little head", stating that "the rugged banks merge to a particular law, but by the Bank itself and what call for him his own policy and integration will provide them with great potential and greater capital not reward projects."

The number of private banks 42 banks spread throughout Iraq and outside the network of over 500 branches and with the limits (12,000), and total private bank funds head working in Iraq more than 8 trillion dinars depending on the Statistical Association of banks as of last June and the wedaeaa manages the private sector worth up to 10 trillion dinars.