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Med
03-26-2010, 02:29 AM
http://nahrain.com/d/news/10/03/100325fa.htm

Media Center Economic Demands Central Bank reduce the duration of the obligation of banks to increase their capital


Center for Economic Information


Central bank issued a decision which ruled the capital increase of Iraqi private banks and government to 250 billion dinars, which is equivalent to at least $ 215 million as a minimum within the time limit extends to 2014
Media Center pays tribute to the economic-by-step with the central reservation on the length of reporting time-frame given by those banks, which extends until 2014 and calls for the Bank to amend Tgosairhaouma period and confirm the correctness of the resolution, but pointed out, as it was too late because the private banks that run money heads took modest vacations banks while business is less than the activities of companies banking on a vacation to Tjsal bank to open the gate to hit the investment by foreign companies was not part of account as the banks are unable to opening credits do not have large branches in the world, but that the letters of guarantee granted by these banks are not recognized by many government departments because of their modest capital of these banks and limiting its receipt and delivery as they receive deposits, treasury deposits deposited with the Central Bank and take interest and give lower interest either in respect of work credit, it is very limited as interest rates imposed by these banks is great benefit about 20 percent in addition to the roof of the short repayment term and complex conditions makes the credit process is not feasible and that the sum to increase the capital of these banks with the liberation of most deposits of these banks will be required to go to work in addition to the correct bank said the move will force many banks to merger or sale of the license to be able to animate advancement of banking in Iraq and get out of the narrow profit and investment shy which weighs heavily on the entire credit process in Iraq and restricted to the banks and the