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Ensure real development key deposit

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1 Ensure real development key deposit on Wed Jun 08, 2016 10:02 pm



Ensure real development key deposit

09/6/2016 12:00 am
Baghdad – Hussein thghb Al-Tamimi

Deposit guarantee represents the first steps to strengthen confidence between banks and the citizen who helps block domestic savings also invited tenders last month cash to banks and make it more economical for the country where you will hire in large development projects.

The Cabinet approved last meeting on the draft deposit system prepared by the Iraqi Central Bank,

where you can set up a company to insure deposits 100 billion dinars capital includes private and Government banks, and deposit a specified percentage of deposits banks company secures pay depositors if a bank or subjected to filtering.

Citizen and banks

Executive Director of the Association of Iraqi private banks on Gibraltar bank sector pointed out that an actor in Iraq requires a positive interaction between the citizen and the private banks which have the task of supporting and financing of the national economy, our that this interaction is waiting for the deposit insurance corporation guaranteeing the rights of depositors and contained.

Tariq said in the interview for «morning»: to build bridges of trust between the parties to the process works to create a sophisticated banking system, where driving a high volume of banking transactions to expansion of services that must be provided to a beneficiary,

here will create a State of competition among banks to develop sophisticated banking systems able to attract the largest number of customers,

we will reach the inevitable result that sophisticated banking sector competing regional and international banks and is capable of handling large numbers required by the banking sector.

Escrow company

He noted that the Association is working hard on to communicate with the Central Bank to accelerate the establishment of this company because of their large cost for the country, as long sought for legislation guaranteeing bank deposits for his role in revitalizing the financial mobility within the banking sector.

Either the Economist Mohammed Ali Jaber and calling for «morning» this task and they are the key to real development in Iraq, pointing out that they contribute significantly to the recruitment of large cash mass exceeding 20 billion dollars on development projects after checked in private banks, as the pros that trend is to keep these funds about the dangers of compactness.

Jaber stressed the importance of communication between the banking sector and the media to develop programmes to promote banking culture in public opinion and give this much attention especially it works to strengthen the country's economy, where deposits in large development projects achieve great benefit to the country.

The citizen who meant private banks to deposit his funds must be reassured and confident that they invest in the right direction and that there is protection for his money that can move the calculated continuously without problems.

Jabar between earlier in an interview the importance of work on the development of human capacity in the banking sector and their inclusion in the development cycles of the supervision of international experts,

noting that workers in the financial sector must describe high professional mastery of sophisticated banking products offered by global banks to their clients from companies and citizens.

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