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The future of private banks

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1 The future of private banks on Wed Jun 08, 2016 4:22 am

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The future of private banks

Writer:Yasser Metwally
08/6/2016 12:00 am

Enjoy the private banking sector in most developed and developing countries has many merits which is one of the most important pillars of economic development, not just something that the world prepared by investment companies that base in the country's requirements that you want to invest in it, the question is where the Iraqi banks from this assessment?

Iraq's private banking sector is exposed to penalties and fines and challenges are almost topples him because the underlying international reputation tovermsarf requires banks with financial solvency, regardless of whether these sanctions, the situation requires the banking sector-based action to end this Dilemma.

Perhaps the fault of the banks you really can't stand alone but joint responsibility because the auction currency unit responsible for this problem, having been a boon to the economy to rein in inflation and walad means players price and economic stabilization has turned into a curse downplayed the reputation of banks by the behavior of some speculators in fraud and forgery and directed by hard currency qualifying with money laundering and smuggling.

I find the recent Iraqi Central Bank attempts to solve this problem which unfortunately exploited by some both in media statements and tugging or exploit issues of banks to blackmail, and if things continue like that, her future is disappearing and then real sustainability welanmoa nor an organized economic activity.

Since the Government was pursuing a new economic reform able to the country's economic Renaissance, it became necessary to provide discreet banking sector to perform this task,

it means that the country need a solid banking sector,

this requires restoring the reputation of banks through close cases and not to waste the cadres took infiltrates due to fears of sanctions because of blurred vision in business dealings and art forgery of documentary credits and mandated limits.

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