Saturday 5/11/2011
Baghdad, Confirmed the Iraqi Central Bank no longer need to open branches across the country, at the time of The Ministry of Finance to open branches of the Rafidain and Rasheed in different areas of the province of Kurdistan.
Central Bank of Iraq that it does not need to open branches in all provinces of the country.
The IFC has recently called for the central bank to open branches in all governorates of the control of the monetary policy and maintaining the balance with fiscal policy.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "there is no need to open branches of the Central Bank of Iraq in Iraq's provinces," .. noting that "at the bank branches in Basra, Mosul, and are sufficient to maintain a balance between monetary and fiscal policy".
He added that "the central bank has a thousand employees and agrees the global system that puts six staff per hundred thousand citizens, a number sufficient to impose control over monetary policy in the country, and consistency with fiscal policy."
He pointed out that "the management of the Central Bank conducts performance evaluations of staff of the Bank continuously between now and then and work on the development of plans of development commensurate with the nature of the Iraqi economy and developments in it.
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In the meantime, The Ministry of Finance to open branches of bank Rafidain and Rasheed in the Kurdistan region.
The media sources that he will be able to staff the region to withdraw an advance percent of salary branches of banks when it opens, according to newspaper Erbil.
The newspaper published a story quoting Undersecretary of the Ministry of Finance Fadel prophet, saying that "the decision to open branches of bank Rafidain and Rasheed in the Kurdistan region have already been issued but can not determine the period of time to complete the procedures necessary for opening," pointing out that "will have to bank Rafidain and Rasheed belonging to the Government of the Territory to change their names so as not to conflict with the name of a bank Rafidain and Rasheed of the Centre in the event was open branches for them in the region."
The prophet that "will be able to staff the region to withdraw an advance percent salary of the branches of two banks when it opens," noting that it "will be entitled to employees who increase their service for five years to withdraw an advance percent salary of the branches of two banks will also be able to employees who exceed their service for one year to withdraw 5 million Iraqi dinars from the advance to be repaid within ten years, an interest rate of up to 8%".
He said he "should staff applicants to request that the advance of owning a piece of land is reserved as collateral for the loan granted until paid off.
The Undersecretary of the Ministry of Finance Fadel Prophet ruled in a statement made by the earlier of the Kurdistan News Agency (Rn), "the opening of branches of the Rafidain and Rasheed in the Kurdistan region in 2012, "stressing that" the procedures for opening of branches of banks in the governorates of the Kurdistan region requires more time will not be completed in 2012."
He added that "the Federal Ministry of Finance agreed with the Finance Ministry in Arbil to form a committee gives the study and the recommendations of the integrated mechanisms of the opening of branches of the bank Rafidain and Rasheed in the provinces of the region, "adding that" the Ministry of Finance is working to develop mechanisms to define the work branches of two banks and the extent of their relationship with the government of Erbil and they relate directly with the Ministry of Finance.
The Ministry of Finance had announced earlier that it is serious about opening branches the bank Rafidain and Rasheed in the Kurdistan region, noting that he will be able to staff in the region to withdraw predecessor property of those branches.
According to statistics published by the Federal Ministry of Finance recently, there are 25 banks waged, and five state banks in Iraq, and most of those five banks is Mesopotamia, which has 190 branches in all provinces and abroad, except for the Kurdistan region in addition to the Rasheed Bank, which has 150 branches in and outside Iraq, except Kurdistan region along the bank real estate, agricultural and industrial.
to ask even the CBI project to separate legislation, laws and overlapping jurisdictions in the government institutions that impede promote economic development and reduce the administrative bureaucracy. The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Central Bank will present a project on the government to break laws intertwined that hinder economic development in the country and cancel your old that do not fit with the direction of Iraq for the expansion of investment projects."
He added that "the investor Iraq needs to 3 thousand dollars and more than 3 months and go through 20 episodes until the administrative allowed to execute the project while in Canada, for example, the period for the opening of any investment project requiring only two days and $ 100 two and two administrative.
He said, "What issued by IFC is true, a reality and diagnosed by the Iraqi government, which requires a comprehensive reform of the laws, regulations and overlapping jurisdictions that impede the implementation of economic projects."
The IFC said recently that Iraq will not reach the level of development under the laws and regulations strangle the Iraqi economy.
It is noted that the IFC is the largest global body for development, focusing on the private sector in developing countries, and opened its first office in Iraq in the month of April.
The Central Bank of Iraq, that the average per capita income amounted to 4 thousand and $ 500 a year during the current year.
Ak News
