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Calls for the separation of the central departments of banks to their respective owners

Wednesday, April 4 / April 2012 11:10

Twilight News / called on the Central Bank of Iraq, Wednesday, to the separation of the administrative organs of government and private banks and their owners, indicating that the intervention of owners of running banks hurt the whole banking process.



The deputy governor of the Central Bank of the appearance of Mohammed's
"Twilight News" that "the government and private banks are still suffering from their owners in the formulation of intervention policies, bank, so banks must separate departments for owners."

"The owner of the banks, government is the state, so affected by these banks are state policies that interfere with the administration," adding, "As for private banks, it is subject to the interests of owners who are often from families of the rich are trying to push banks towards their own interests."

The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh count, last Monday, in a statement to "Twilight News" Rafidain and good government, "obstacle" to the development of the Iraqi banking system which has to cope with Iraq draws to a market economy.

And the favor of "The intervention of the owners of running Madaom banks reflect negatively on the development and performance."

The Iraqi government is still committed to its financial transactions in which Tguetsraly government banks by 85%.

Most transactions are conducted through banking institutions are banks, governmental organizations «Mesopotamia» and «good».

Private banks were nationalized in 1964, and allowed to operate again in the nineties of the last century, but their activities remain mostly limited to the deposit services and lending profile.

The experts, bankers suggested, earlier, new legislation to support the Iraqi banks two branches of government and private sector for its contribution in the process of investment and ages of the country, showing how, if the banking system in Iraq is still behind the banking systems of modern and advanced in the world, Iraqi banks have become an office banking as a result of the absence of the actual role in contributing to the investment operations of the country through the granting of loans, whether on credit or direct payment.