09/07/2011
Iraq has been working on the development of the payments system in the country's banks
Baghdad, The Central Bank of Iraq adviser said on Saturday that there is a plan he described as "high level" to make Iraq a twinning between the banks and international banks to develop a system of payments in the banks of the country.
The adviser said the Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank operates according to high-level plan for the provision of legal requirements and technical conduct of twinning and the wide range between government and private banks, and between the international banks on the other hand to develop the payment system banking and regulation of trading financial and cash it."
The World Bank announced on Friday that it had completed the plans and technical procedures, financial and legal to develop the good performance of the bank and state-owned Iraq and restructuring.
Saleh added that "the process involves three phases, the first involving management contracts, partnership contracts and the second, and third decades of ownership required by the private banks."
He pointed out that "the twinning of property by more than 10% with international banks that will be a true partner with private banks to support banking operations for the development of the payments system and the development of ownership and capital."
And decided to Iraq in 2006, the restructuring of the banking sector to allow direct investment in banks and get rid of the heavy debt burden on the major banks owned by the state after decades of war and economic isolation.
The main objectives of the program is the restructuring of the largest banks owned by the Iraqi state and are the Rasheed Bank and Bank of Iraq and the restructuring of the Audit Department at the Central Bank and the development of the private banking sector.
According to the CBI, the external debt and internal Bank of Iraq at 28 billion dollars, while Rasheed Bank debt of one billion dollars, the government borrowed most of the foreign debt owed by the banks.
Will be concentrated under the plan, in 2011 to implement training programs for departments such as the Audit Department at the Central Bank and the Management Unit of each branch of the Rafidain Bank and Rasheed Bank.
The main objective of restructuring is to reach a sound banking system and sophisticated because the five banks owned by the state controls about 90 percent of the entire banking sector activities.
The aim of the restructuring plan is also to transform the Iraqi banks to other financial companies, such as specialized development banks and Islamic banks to encourage investment and development of the real economy.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/3
Iraq has been working on the development of the payments system in the country's banks
Baghdad, The Central Bank of Iraq adviser said on Saturday that there is a plan he described as "high level" to make Iraq a twinning between the banks and international banks to develop a system of payments in the banks of the country.
The adviser said the Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank operates according to high-level plan for the provision of legal requirements and technical conduct of twinning and the wide range between government and private banks, and between the international banks on the other hand to develop the payment system banking and regulation of trading financial and cash it."
The World Bank announced on Friday that it had completed the plans and technical procedures, financial and legal to develop the good performance of the bank and state-owned Iraq and restructuring.
Saleh added that "the process involves three phases, the first involving management contracts, partnership contracts and the second, and third decades of ownership required by the private banks."
He pointed out that "the twinning of property by more than 10% with international banks that will be a true partner with private banks to support banking operations for the development of the payments system and the development of ownership and capital."
And decided to Iraq in 2006, the restructuring of the banking sector to allow direct investment in banks and get rid of the heavy debt burden on the major banks owned by the state after decades of war and economic isolation.
The main objectives of the program is the restructuring of the largest banks owned by the Iraqi state and are the Rasheed Bank and Bank of Iraq and the restructuring of the Audit Department at the Central Bank and the development of the private banking sector.
According to the CBI, the external debt and internal Bank of Iraq at 28 billion dollars, while Rasheed Bank debt of one billion dollars, the government borrowed most of the foreign debt owed by the banks.
Will be concentrated under the plan, in 2011 to implement training programs for departments such as the Audit Department at the Central Bank and the Management Unit of each branch of the Rafidain Bank and Rasheed Bank.
The main objective of restructuring is to reach a sound banking system and sophisticated because the five banks owned by the state controls about 90 percent of the entire banking sector activities.
The aim of the restructuring plan is also to transform the Iraqi banks to other financial companies, such as specialized development banks and Islamic banks to encourage investment and development of the real economy.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/3
