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Banking Association calls for the central bank to support the liquidity of financially troubled banks
15/3/2015
called head of the Iraqi Association of private banks and Wadih Nuri al-Handal Iraqi Central Bank to support the liquidity of troubled private banks financially. He said in a press statement that many of the private banks are currently suffering caused by stop a lot of borrowers to repay loans are discharged from financial difficulties and facilities granted by these banks have it, that makes them suffer from indigestion in cash flow in the level, adding that "the difficulties currently faced by private banks in the collection of debts among borrowers, resulting from the presence of hot spots as a result of security and exceptional where the situation" Talking about the consequences of these continuing difficulties faced by these banks on the overall banking activity in the country, "stressed that the Iraqi private banks, the Association believes that there is an important reason why the Iraqi Central Bank and the concerned authorities of other banking and financial sector to take the required measures to rescue the private banks covered by the difficulty of collecting debts." He added, "as a necessity urgent to support the liquidity of private banks faltering financially and through inter Options may be one of them to provide long-term government Osndhat benefits Oaah symbolic soft loans paramedic procedures and ways that help these banks to overcome the difficulties, ".utalb Handal activate inter decisions issued by the Committee on Economic Affairs of the Council of Ministers and the related sector, government banking, private and in a way helps to find a common understanding between the Iraqi Central Bank and the private banks in the framework of standards in line with the exceptional circumstances through which the country's economy, especially the financial and banking sector, ".ofatt Handal to" that there are great difficulties currently faced by the banking sector, making it looking forward to dealing with him by the authorities concerned in the spirit of excess capacity, regulatory and oversight and give advice to the contexts that will provide the ability for private banks to cope with fenders that hinder her career. "He explained that" the recommendations of the Economic Commission for Refugees private sector received for the Council of Ministers of the Economic Commission headed by Rose Nuri Haws is gaining importance in reality a call for a credit enhancements for private banks specifically activate the channels of financing and credit vessels needed to participate in development projects, pointing out that "the support of small and medium enterprises is a priority at this stage of the importance of this to the revitalization of the private sector and the operation of labor and the elimination on unemployment. "He added Handal" that many of the private banks, the situation calls for speedy implementation of the recommendation on taking advantage of the legal reserve for private banks to grant investment loans from the reserves of the Central under the supervision of Iraq, stressing that "the Iraqi Association of private banks will be eager to coordinate with the Iraqi Central with respect to the establishment of the Ministry of Finance to put clear controls on the rights of depositors to ensure the banks and hence the need to accelerate the establishment of a company to guarantee deposits in private banks and other credit guarantee and the establishment of a central fund to finance private banks charge to cover the financing of bitter melon ", stressing Handal" development projects possibility of the Rafidain and Rasheed deposit part of their money in private banks versus soft it benefits, a step in the right direction to support the private banks and the provision of liquidity and its contribution to development projects. "In The issue of the adoption of appropriate economic policies that will move the labor market and activate the activity of industry, agriculture and services sectors, he replied, saying that" Such steps also require activation work toward the formation of a supreme body responsible for reforming the banking sector restructuring and to reconsider laws that prevent the performance of private banks for their role in the practice of investment. "
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15/3/2015
called head of the Iraqi Association of private banks and Wadih Nuri al-Handal Iraqi Central Bank to support the liquidity of troubled private banks financially. He said in a press statement that many of the private banks are currently suffering caused by stop a lot of borrowers to repay loans are discharged from financial difficulties and facilities granted by these banks have it, that makes them suffer from indigestion in cash flow in the level, adding that "the difficulties currently faced by private banks in the collection of debts among borrowers, resulting from the presence of hot spots as a result of security and exceptional where the situation" Talking about the consequences of these continuing difficulties faced by these banks on the overall banking activity in the country, "stressed that the Iraqi private banks, the Association believes that there is an important reason why the Iraqi Central Bank and the concerned authorities of other banking and financial sector to take the required measures to rescue the private banks covered by the difficulty of collecting debts." He added, "as a necessity urgent to support the liquidity of private banks faltering financially and through inter Options may be one of them to provide long-term government Osndhat benefits Oaah symbolic soft loans paramedic procedures and ways that help these banks to overcome the difficulties, ".utalb Handal activate inter decisions issued by the Committee on Economic Affairs of the Council of Ministers and the related sector, government banking, private and in a way helps to find a common understanding between the Iraqi Central Bank and the private banks in the framework of standards in line with the exceptional circumstances through which the country's economy, especially the financial and banking sector, ".ofatt Handal to" that there are great difficulties currently faced by the banking sector, making it looking forward to dealing with him by the authorities concerned in the spirit of excess capacity, regulatory and oversight and give advice to the contexts that will provide the ability for private banks to cope with fenders that hinder her career. "He explained that" the recommendations of the Economic Commission for Refugees private sector received for the Council of Ministers of the Economic Commission headed by Rose Nuri Haws is gaining importance in reality a call for a credit enhancements for private banks specifically activate the channels of financing and credit vessels needed to participate in development projects, pointing out that "the support of small and medium enterprises is a priority at this stage of the importance of this to the revitalization of the private sector and the operation of labor and the elimination on unemployment. "He added Handal" that many of the private banks, the situation calls for speedy implementation of the recommendation on taking advantage of the legal reserve for private banks to grant investment loans from the reserves of the Central under the supervision of Iraq, stressing that "the Iraqi Association of private banks will be eager to coordinate with the Iraqi Central with respect to the establishment of the Ministry of Finance to put clear controls on the rights of depositors to ensure the banks and hence the need to accelerate the establishment of a company to guarantee deposits in private banks and other credit guarantee and the establishment of a central fund to finance private banks charge to cover the financing of bitter melon ", stressing Handal" development projects possibility of the Rafidain and Rasheed deposit part of their money in private banks versus soft it benefits, a step in the right direction to support the private banks and the provision of liquidity and its contribution to development projects. "In The issue of the adoption of appropriate economic policies that will move the labor market and activate the activity of industry, agriculture and services sectors, he replied, saying that" Such steps also require activation work toward the formation of a supreme body responsible for reforming the banking sector restructuring and to reconsider laws that prevent the performance of private banks for their role in the practice of investment. "
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