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Nusseiri calls on the Prime Minister to provide government support to private banks and enable them to face the challenges

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Nusseiri calls on the Prime Minister to provide government support to private banks and enable them to face the challenges

Post by claud39 on Sat Dec 01, 2018 6:59 am


Nusseiri calls on the Prime Minister to provide government support to private banks and enable them to face the challenges


Economy News Baghdad

Called on the Prime Minister to provide government support to private banks from the relevant government agencies to overcome the challenges faced since the economic and security crisis four years ago, including instability in the business environment and the damage caused by the " Calling for its monetary and fixed assets in the liberated cities and their inability to recover the debt distressed borrowers and the decline in shares in the Iraqi market for securities in excess of 80% in addition to the complicated tax policies and regulations, which affected this challenge To double the provision of bank financing and loans to companies and individuals to fund projects.
He added in an exclusive interview with "Economy News" that "In order to be able to complete their plans for the year 2019 and carry out its tasks in the sustainable development requires the development of policies and procedures for the actual government support to involve the private banking sector and representation in the membership of the Economic Affairs Committee in the Council of Ministers and requires analysis of the results of its activities and activities In 2018 according to the objectives of the central bank strategy.
Al Nusairi stressed the need to prepare these plans in coordination with the competent departments in the Central Bank and hold working meetings and diagnostic discussions of the major challenges facing banks and focus on re-reviewing and evaluating the instructions and guidance and executive regulations issued by the central bank departments and developing them towards the banks and under the supervision of the Central Bank Attracting deposits, granting credit, loans and banking facilities, rising financial coverage, and the important thing is policy-making to restore public confidence in banks. "
He stressed the need for "banks to pay attention to the application of financial stability criteria, financial safety indicators such as capital adequacy ratio, liquidity ratio and profitability ratio as the ratio of profit and net profit to capital, rate of return on assets, rate of return on shareholders' equity and the cost of activity and financial leverage and the proportion of funds, Indicators of measuring the efficiency of performance and the introduction of units of statistics and studies and financial analysis indicate monthly deviations and quarterly and annual plans.
He also called on the competent departments and the quality of the Central Bank to follow up the implementation of bank plans periodically so as to keep pace with the process of development and growth of the banking sector and achieve the developmental goals for 2019.

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