10/04/2010
Association of Banks surprised the position of financial obligations to private banks and to convene a joint session
The Director of the Association of Iraqi banks, on Friday, surprisingly the banking community of the statement of the Financial Inspection Office and the Ministry of Finance to the Iraqi banks, saying that the performance of the Iraqi banking system reached an advanced stage, calling for a joint meeting to clarify the situation.
Abdul Aziz al-Hassoun that "the Association of Iraqi banks announce surprise of the uncompromising position of the Office of Financial Supervision and the Ministry of Finance to the Iraqi banks to exercise it transfers money out of Iraq to import more from the inside."
Hassoun pointed out that the position adopted towards the Iraqi banks "is not accurate and serves as the intervention is not true, especially since there Sulttan one of them is financial and other reviews," adding that such intervention "would have severe effects on the Iraqi banking system private, who arrived performed at an advanced stage after the increase the capital of banks. "
The Undersecretary of the Minister of Finance Fadel Prophet said in a press statement late last month that the ministry decided to put controls more emphasis on the private banks because they did not lead role in the economic movement in Iraq, as announced BSA does not match the data from the central and special process audit of financial flows, which makes in foreign remittances daily with the corresponding imports, saying that private banks and the central cell responsible for the audit.
And take it Hassoun that "the central bank was exercising its work positively through the exchange of transactions with foreign banks and invest the most generously in the development and updating of software and information technology to link its branches through the contacts," and that's "easier to perform banking transactions as the number of branches to more than 600 branch" .
Hassoun called on to "hold a joint session of the edges of the Ministry of Finance and the Central Bank and private banks to clarify all aspects of negative and positive in this regard."
The Association of Iraqi banks issued a statement indicated through the assessment of the Iraqi Central Bank is the sectoral supervising the performance of private banks, which was issued in accordance with international standards (CAMELS) is the real indicator to measure the level of performance adopted by all circles of the global financial, noting the results of the evaluation to obtain Nine banks to a very good degree and 13 degree bank on the good of the 27 banks surveyed said evaluation by the Department of Audit on the ground in the Iraqi Central Bank.
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