Banker: failure of banks due to the lack of understanding and joint coordination between the central bank and private banks

Banker: failure of banks due to the lack of understanding and joint coordination between the central bank and private banks
09-05-2013 11:08 AM







Baghdad (news) .. Refer banking expert on behalf of Jamil, the reasons for the failure of the banking sector to the absence of a common understanding and cooperation between the central bank and private banks, on the one hand to provide logistical and technical assistance between them.

Jameel said (of the Agency news): There is no common understanding and coordination between the central bank and private banks regarding the evolution of the banking system and stand on the most important banking obstacles to find the necessary solutions.

He added: This is the spacing between the Central Bank and local banks have made a big gap in their work which rendered control and government control over the work of private banks and financial trading operations and banking.

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by the property (7) state banks and (30) Ahli Bank, including (7) Islamic banks, in addition to (6) of foreign banks.

In spite of the Investment Law No. 13 of 2006 has excluded investment in the banking sector of its provisions, but that investment in the banking sector takes its legal framework on the basis of legal central bank No. 56 of 2004, banks No. 94 of 2004, and has a minimum to establish a bank in Iraq, 100 billion Iraqi dinars (around U.S. $ 85 million (. / End / 8.'s. m

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