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03/19/2015 (00:01 pm) – The number of readings: 303 – Issue (3316)
BAGHDAD / Wael grace
Reduce the Iraqi Central Bank of dealers concerns with private banks and concerns of non-payment of “deposits” owed by those banks, after news leaks about the reluctance of some private banks to give deposits to customers, while the “central” said he can ensure that money through the “reserve legal “available at each bank.
Central and revealed Iraqi series of actions may enhance liquidity, while the Finance Committee, said in the House of Representatives that it filed a complaint to the Ministry of Finance against some banks that suffer administrative Problems caused not give deposits to its clients, and revealed that she put in the budget of 2015 article calling for the legislation law to guarantee deposits.
This comes as one of the private banks that face Problems in providing depositors’ money to have the “wrong policies of the State” in dealing with the economic crisis faced by the country, and non-payment amounts for contractors and ministries in addition to the failure to approve the 2014 budget director, led to the lack of liquidity on the part of banks and bounces said The applicant, while noting that he has, for example, debts 100 billion dinars on the size of the Ministry of Education have not paid yet.
Central assurances
The director of the release and cabinets in the Iraqi Central Bank Ihsan Yasiri “repeated complaint against some private banks lagging in their work, such as the economy actually the central bank under the tutelage, and Warka, which was lifted earlier custody but did not stand up by himself.”
He adds Yasiri “long” that “North Bank also faces a problem with one of the top depositors, where the withdrawal of recently all his account of the bank, a huge amount, and today they are negotiating with him to resume trading again,” while noting that “the state institutions participated in the liquidity problem, because it is not paid to contractors and dealers with their dues, and they have money in the bank as well. “
Conversely Yasiri assured depositors at those banks that “the CBI to re-sponsor their money through legal reserve which each bank, which is launched in the real crises, and not because of the small numbers can be overcome.” Director of the Central Bank also revealed that the latter has a series of procedures for the award of the general budget, which is facing a deficit of billions of dollars, through the rationalization of import random, and release funds to the specialized banks such as industrial, agricultural, commercial and real estate, until the release of loans and advances.
The Iraq Stock Exchange has confirmed that the Iraqi Central Bank to impose their guardianship on some private banks, led to “shake the confidence” of the citizens, and low cash liquidity and price traded.
The central bank has put in (the fourth of June 2014), the economy Investment Bank, under the trusteeship, attributing this to the passion for the advancement of the bank and protect its customers.
Ditto the Central Bank that the Warka Bank was placed under guardianship, 2012, to find work, before deciding filed in, (the sixth of February 2014).
Banks under control
Meanwhile, a Jabbar Abdul Khaliq, a member of the Finance Committee in the House of Representatives that “the banks are obliged to give deposits to clients”, while noting that some banks experiencing administrative problems, and we had to raise the complaint against her to the Ministry of Finance.
He said Abdul Khaliq “long” that “civil control of banks by the CBI, where banks provide monthly budget to the Central, and the latter used his powers to stop the work of the bank if the disposal of his money out of contexts, and when finds that liquidity has less than deposits then will the announcement bankruptcy “.
Deposit Insurance Act
In the meantime, Masood said Rustam, the other member of the parliamentary finance committee, that “the Commission wanted to avoid the occurrence of future problems such as not to give the banks deposits, install a paragraph in the budget to enact a law on behalf of the (deposit guarantee).”
He said Rustam “long” that “when the neighboring countries and the world at large experience in this subject, and has advanced laws to protect the Customer deposits with banks,” he said, adding that he had formed a sub-committee within the Commission to discuss the talk of the failure of some of the private banks to give deposits to customers with .
In the meantime, the north bank manager Munther student said in an interview with the (long-Presse), “The liquidity crisis experienced by the public banks do not belong to his bank alone.”
He adds demanded that “his bank, for example, has a debt to the Ministry of Education in the amount of 100 billion dinars, has not yet been received by the due to failure to approve the 2014 budget, and not to launch state appropriations in the current budget for the ministries and contractors who we gave them loans and facilities worth 433 billion dinars from last year, when asking them to repay the money they say the government, and others say the money with agents and dealers in the area fell to the organization “Daash.”
Conversely north bank manager talked about the presence of two million displaced and displaced people in Iraq and said that they have deposits and savings accounts they retracted also because of the exceptional circumstances in which they went through. The owners sold the shares of the displaced Maldém of shares in banks, while the student said that his bank has 85 billion dinars in the Kurdistan region is facing problems due to known and recovered dispute with Baghdad over the budget of the financial crisis.
Brett McGurk
