View Full Version : Calls for the integration of small private banks and develop their performance

Hue Mi
11-17-2013, 06:53 PM
Calls for the integration of small private banks and develop their performance (http://www.iraqhurr.org/content/article/25170780.html)


Baraa Afif

With continuing calls to save the situation of small private banks that economists say they do not have large capital helped her overcome the vagaries of the market, the Association of private banks in Iraq those banks to merge with each other to form a commensurate with the scale of investment operations across the country.

Says Executive Director of the Association-Nasser Hassan that the incentives provided by the Central Bank of Iraq of those banks are insufficient, noting the presence of ten banks having difficulty civil in their dealings, because of lack of capital.

Excludes financial expert Majid mock draft integrating private banks to increase their capital a panacea to revive Iraq's banking realities, stressing the need to strengthen Bank foundations, beginning with the expansion of regulatory authority to the Central Bank, and the restructuring of State banks as a good and Mesopotamia, and follow international standards in banking, will lead to the private banking business calendar.

But Economist Abdulrahman Al-Mashhadani has ruled out that a lack of capital in private banks to expand, which can raise capital through IPO, pointing out that the banks family rejects expansion of parties outside the family or integration with other private banks, which hinders its development. Mashhadani said that banks may have to close their doors if they impose upon capital increase.

According to the Statistical Association of private banks issued in the month of June, there are 42 private banks spread inside and outside Iraq, their heads towards total 8 trillion dinars, and manage private sector deposits amounting to 10 trillion dinars.