Advisor Central Bank: the inability to participate in the development and research on the negative aspects of profitability experienced by the private banking sector

2010-03-18 20:47:35 2010-03-18 20:47:35

BAGHDAD (Iba)

. An advisor of the Iraqi Central Bank, "The low capital and the inability to participate in the development due to factors precautions surrounding the private banking sector and the search for profitability is the most prominent disadvantages suffered by private banks."

Appearance, "said Dr. Mohammed Saleh told the independent press (Iba) on Thursday," said the bank issued a circular to private banks allowed them to expand their lending operations to eight times what it was but that is not taken at the expense of the low capital that they suffered and to address that by raising the ceiling of capital ".

"It is unfortunate that there are claims from private banks on central bank policy, which they describe Balmichddp, which is not true because the central system is based on international banking standards, proven, successful and avoided a financial crisis. Stating that allowing banks to use 20 percent of the money banks of the economic activities with a view to set aside the financial problems of the future. "

And Saleh stressed "that if the market is moving towards business and investment partnership, interaction and the creation of the real development, the case will remain on what it. He explained that determine the targets of the establishment of agricultural and industrial projects should achieve real development."

It should be noted that Saleh announced that the bank has taken measures ranging within the regulatory framework for the protection of financial institutions and funds of depositors. (End)


http://translate.googleusercontent.c...WxE5Xz0rLTA22g