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15% higher assets of private banks

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1 15% higher assets of private banks on Thu Feb 02, 2017 1:13 am



15% higher assets of private banks

New morning
January 29th, 2017
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JD 8 trillion capital amounted to the end of 2016

Baghdad: new morning:

Private banks capital rose by 15 percent in 2016, worth 8 trillion dinars (about 6.5 billion dollars) and quoted a statement issued by the Executive Director of the Association of private banks to Gibraltar, that such capital «pose 78.2 percent of the Iraqi banking sector capital ratio.

He guessed that increase with well proportioned assets during the current year.

He drew out a 55 banks in Iraq "including trade, investment and finance, Islamic and Arabic and foreign bank branches, with their capital 8 trillion dinars at the end of last year, up 15 percent on the year 2015".

And did not exclude Gibraltar «increased number of accounts opened in private banks from government employees' salaries localization project in the banking sector, as well as a growing interest in electronic payment cards offered by private banks.

Statistics show that only 12 percent of Iraqis have bank accounts at the time remained 70 percent of money from banking session».

Experts attributed the tumble some private banks and their inability to reimburse depositors, to the financial crisis in the country as a result of low oil prices and the control of terrorism «ISIS» on some areas after 2014.

Tariq revealed that the Central Bank of Iraq «face faltering banks help to solve their financial crisis, ASEAN's role is to follow instructions.

In an interview carried by the said «life», that «faltering banks reduced central facing liquidity shortages to three currently.

A large number of depositors protested in front of the Central Bank, demanding help recover their deposits at banks that reject it, arguing not to die Lakha funds in its coffers.

While the Central Bank after a legal reserve, which is owned by banks.

Banking expert said Walid IDI, «some banks complain of transitory liquidity crisis, and the Central Bank works by launching legal reserve maintained in the form of defenses.

But he said «disturbance the security and political situation and increased internal and external migration, and there were some breaches in banks and lack of commitment to proper standards, reflected negatively on the banking sector and made dealers among Iraqis not to exceed 12 percent.

The Central Bank refused to acknowledge the existence of Iraqi banks losing money, preferring to talk about difficulties.

Deputy Governor of the Central Bank and portentous shaikhali, that the Central Bank "is keen to address all situations of faltering banks and upgrade them, to reach acceptable levels.

He pointed out that a very small number of troubled banks «», stressing that "there is no loser in Iraq Bank and stumbling in some banks, due to the circumstances in the economy, in addition to the new experience of private banks that suffered from some failures.

Sheikhli stressed that «the overall performance of private banks would turn good if improved economy».

He said that «cases occurring can fit and we have taken actions».

He was a financial adviser to Prime Minister Mohamed Saleh appearance, referring to the Iraqi Central Bank sought to distribute loans to private banks, with the goal of developing the economy and solve the economic problems of the citizens and to support the initiative's senior loans, these loans worth one trillion dinars, and will include small and medium-sized enterprises active in capital and the economic cycle in Iraq».

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