Trends of private banks
30/6/2018 12:00 am
It may be appropriate, based on the low exchange rate of the dollar and the convergence of its price in the market with the purchase price, to reconsider the issue of public-private partnership in the financial field, because the government does not skimp in supporting private banks, whether in the issuance of laws or encouragement that serve banking.
Having become a private banking association heard through its conferences and seminars and the ongoing media presence,
Distribution of prizes and so on, but the paradox remains remarkable since More than ten years and private banking activity in the category of 10 percent of the banking activity in general and 90 percent of the public sector banking Consisting of seven specialized banks compared to 70 banks, including family Islamic.
We have not noticed that the private banks, including the Islamic funded a vital project in the field of industrial, agricultural and service, also financed the Rafidain Bank and Rashid project Basmaya billion dollars and succeeded project, and article 28 of the law of private banks has not been modified by the Association or the banks, Of their role in industrial, agricultural or residential finance.
The restructuring of government banks recommended by the World Bank and completed but frozen may be an obstacle to integration and division of roles in banking between the public and private sectors, despite the existence of broad areas of joint work between them can be benefited by the settlement of salaries, which represent 70 percent of the state budget, The private banks fill this vacuum as investment opportunities, to enter into banking partnerships.
Perhaps all that has been directly related to the economic structure, but hope is on the government reform programs to attract the funds of the two cross-sections economically, legally and practically and after the restructuring of the seven banks government is the first step.
It is also necessary to review the issue of open import licenses, which was and still is a fundamental reason for the waste of foreign currency and transfer it abroad, and the subject of the currency window is required to be directed towards construction and reconstruction through the involvement of private banks to finance these projects, 10 percent reserved for private banking activity does not loom in the program to raise the percentage now hope to activate the reform program of the government to be a priority of the next ministerial formation.