24/08/2010
Iraqi economists: can not privatize State-owned banks
Baghdad, 24 August (Akaniwz) - The Iraqi economists, on Tuesday evening, the impossibility of privatization of State-owned banks at the moment because of financial links between them and government institutions.
The head of the "Economists" Ali told Shia'a Kurdistan News (Akaniwz) that "it is difficult to talk about the privatization of State-owned banks because of mistrust of Iraqi banks for being not based on clear law prescribed for her exercise of her work."
"It's better now to keep the banks, governmental organizations accredited to the state of confusion due to the future of the Iraqi economy."
He added that "the Iraqi economy in general and banks in a particular affected by the political changes that occur in Iraq."
For his part, Iraqi economic expert for Yassin Taher (Akaniwz) that "Iraqi law does not allow the privatization of government banks that all government departments have close financial links with the State-owned banks."
And "not easy to privatize State-owned banks at the present time due to financial constraints and technical, such as impeding the implementation of these projects."
He Tahir said: "There is no monopoly of money by the Iraqi government banks, but there are bridges of confidence between the banks and government institutions."
The total value of the Iraqi dinar after the invasion in 2003 to settle at 1.160 - 1.180 to the dollar nearly two years ago, which helps to keep inflation at 3%.
And the interest rate of around 6% on deposits of the dinar, and lending rates tend to vary between 8 and 12%, but confidence is still weak among the public.
In Iraq, there are currently 36 banks belonging to the private sector, ranging from capital, mostly between 50 to 150 million dollars.
The Iraqi government is still shorten its financial transactions to banks approved by the government by 85%.
And called on the Ministry of Finance earlier in the Iraqi Central Bank to take resolute action in granting licenses for the establishment of private banks.
آكانيوز)ج م 24/8/2010 (Akaniwz c) m 24/08/2010
http://www.aknews.com/ar/aknews/2
Iraqi economists: can not privatize State-owned banks
Baghdad, 24 August (Akaniwz) - The Iraqi economists, on Tuesday evening, the impossibility of privatization of State-owned banks at the moment because of financial links between them and government institutions.
The head of the "Economists" Ali told Shia'a Kurdistan News (Akaniwz) that "it is difficult to talk about the privatization of State-owned banks because of mistrust of Iraqi banks for being not based on clear law prescribed for her exercise of her work."
"It's better now to keep the banks, governmental organizations accredited to the state of confusion due to the future of the Iraqi economy."
He added that "the Iraqi economy in general and banks in a particular affected by the political changes that occur in Iraq."
For his part, Iraqi economic expert for Yassin Taher (Akaniwz) that "Iraqi law does not allow the privatization of government banks that all government departments have close financial links with the State-owned banks."
And "not easy to privatize State-owned banks at the present time due to financial constraints and technical, such as impeding the implementation of these projects."
He Tahir said: "There is no monopoly of money by the Iraqi government banks, but there are bridges of confidence between the banks and government institutions."
The total value of the Iraqi dinar after the invasion in 2003 to settle at 1.160 - 1.180 to the dollar nearly two years ago, which helps to keep inflation at 3%.
And the interest rate of around 6% on deposits of the dinar, and lending rates tend to vary between 8 and 12%, but confidence is still weak among the public.
In Iraq, there are currently 36 banks belonging to the private sector, ranging from capital, mostly between 50 to 150 million dollars.
The Iraqi government is still shorten its financial transactions to banks approved by the government by 85%.
And called on the Ministry of Finance earlier in the Iraqi Central Bank to take resolute action in granting licenses for the establishment of private banks.
آكانيوز)ج م 24/8/2010 (Akaniwz c) m 24/08/2010
http://www.aknews.com/ar/aknews/2
