09-01-2007
An expert at the Central Bank calls for the restructuring of banks and development services
A weak banking awareness and the need for rehabilitation
Baghdad-Sabah
A person banking some inherent characteristics of the banking system, which is considered one of the most important reasons for failure and called for work to develop their own programs to change radically in order to develop the performance of this system and transform it into the ranks of leading international banks for playing a big role in the activation of the Iraqi economy ...
This came in the search by the assistant general manager of the banking and credit control in the Central Bank of Iraq and Idi Walid Abdel Nabi, which is marked "the most important characteristics of the banking system in Iraq and proposals for development" to a seminar of economic reform, organized by the Ministry of Industry and Minerals last year.
Because of the ideas aimed at raising the efficiency of performance of the banking sector at a time when the Iraqi economy from the distortions many for his contribution to the solution of important aspect considered "morning" to highlight the salient features of the research in this important.
He sees banking Walid weak awareness of banking and non-arrival of the Iraqi economy and society to the global level in this area is the most prominent feature in this area, which calls for the deployment banking awareness within the Iraqi society and the banks themselves through the development of banking services and dissemination.
Based on this analysis that the density bank in Iraq "the number of banks on the number of people" at the same bank every 46632 people, compared to the standard of banking density banks and one each ten thousand inhabitants.
He pointed out that the actions of Idi fiscal policy to merge government banks and reduce their number because of the security conditions are another indication of deepening awareness of the weakness of the banking emphasizing the necessity of separating the future after the demise of reasons.
One of the characteristics of the predominance of private banks by the family nature, and here is the problem of the narrow interests of the family, which is the result of the ownership and management with this situation caused the loss of banks between the wishes of the owners of capital and banking requirements and this is another factor indicates the weakness of the banking culture.
The absence of public banking strategies actors and the lack of all policies provided by the Banking Act and the Law of the Central Bank of Iraq, and this is another characteristic of the private banking system.
The researcher that the absence of institutions videotapes of the banking system and its insurance company, such as deposits and other insurance loans or offices for the study and analysis of banking and other dangers.
Idi pointed out that many other problems led to the decline of banking work in Iraq, including weak technological means used by banks and the problems of counterfeit currency and documents damaged and the problem of the transfer of money and provide services at the expense of secondary tasks, such as distribution of salaries of retired President and others.
He said : "All these issues are enrolled banking work, and the reason for the delay.
Idi researcher commented on the basic problems faced by government banks reference to the composition of boards of directors in government banks and combine public administration and the Governing Council is to be mentioned that most decisions made of a political and individual and far from the banking system affects the results of the bank.
Go further than that in referring to the method of distribution of profits that impede the access of governmental banks to a minimum of capital because the method of distribution, according to a banking expert opinion does not take into account the actual needs for the development of banking operations.
To reduce these impacts researcher proposes the development of the use of automation in the banking and appropriate software, and the reorganization and rehabilitation of the banking staffing, exempting banks from the burden of secondary services.
It demands a researcher studying the conditions of banks jurisdictional governmental organizations (real estate, industrial, agricultural, cooperative), and an investment bank into one and increase its capital and reconsidering the law on public companies and the breakdown of profits and boards of directors.
And calls to encourage banks to make loans and the establishment of joint bank loans and insurance company for insuring deposits to ensure the protection of depositors and banks.
The impression findings of the "morning" that the banking sector needs to restructure the banking system to the requirements of the current stage of the Iraqi economy.
The question that presents itself when the banking sector can address the challenges facing the challenge of rehabilitation? This is one of the things Page economic during 2007 within its means to highlight economic reform.
Translated version of http://www.kurdistanmot.com/ar/