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Specialists: establish a national company to guarantee bank deposits will save the banking sector from economic shocks

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Specialists: establish a national company to guarantee bank deposits will save the banking sector from economic shocks

A number of specialists I roil economists on the need to implement the draft national company guaranteeing bank deposits to cover the former banking shocks in Warka Bank, Basra and earn citizen to deal with the banking sector which indicates the progress of the country culturally and economically to keep abreast of world economic developments.

According to this Financial Committee MP criticized najeeba Najib, during her speech for (citizen). The current banking and hasty actions against certain "currency that the Bank actually need several legislative acts to protect the citizen and the banks of economic shocks.

Najib said the "sophistication and improve banking requires the legislatures and Central Bank by following اجراءاتتنفيذيه, legislative and program funds, bank depositors and attract investors to deal with the Iraqi banking sector.

Najib said that future House sessions will put the draft founding national ensure company financial deposits to the Presidency of the Council and the formal legislation after asking if he long ago. "

Member of the Finance Committee Secretary Hadi Abbas called modern (citizen). "The creation of a modern and sophisticated system used to guarantee bank deposits and is complete with a private company, with a capital contribution.
The post said that company is to guarantee bank deposits in case of bank failures or theft, since there are locked funds for those deposits.

He continued to create such a company is not unusual for a company to secure loans from private banks, as is the case with bank guarantees that protect Bank loans.
He added: this company can protect the public and the private banking sector also protects the customer with these banks from any future cons.

Of the private banks Association of Mir Abdul Aziz Hassoun Faak am See (citizen) newspaper. The draft of a national company to protect deposits of debate among deputies and the experts the economics will make banks high confidence among citizens in bidding farewell to his money without fear of tremors.

He said Hassoun "period has seen some banks tumble caused by a loss of depositors and the impossibility of recovery, creating a kind of aversion to the citizens and the public in General deal with banks and deposit their money in," antasis Al mawal and guarantor of the company are governed by formal law will encourage the treated with banks and disseminate the culture of the banking system.

He called the Director of the Association of private banks "of the Federal Government and the Central Bank to create a draft of the national guarantor of company funds depositors according to the sober Act determines its course."

The Association of private banks said that the proportion of deposits in State banks ranging from 65 to 68 trillion dinars, of which only 22 trillion dinar deposits of private banks and the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by property (7) and banks (30) my family including Bank (7) in addition to Islamic banks (6) foreign banks.

Advisor to the North Bank for finance and investment NAFI Elias aboa Shad during the modern newspaper (the citizen). The draft of a national portfolio of company funds depositors, saying the draft is very important in attracting citizens and spreading the culture of banking in society.

Abou said that the bitter experience of the Warka Bank Iraq banks and Basra significantly impact citizens affected by lack of confidence in the banking and created a large Jolt in the banking sector, which should set up a garrison and a guarantor of the money depositors to cover bank failures. "

"The issue of establishing a national company in Iraq to ensure that the funds of the depositors will contribute largely to attract local and foreign clients in dealing with an official Government Act protected their money without any hesitation in banking."

North Bank Advisor said "must establish a national company on grounds that cover all deposits on the reluctance in the protection, according to government data provided to an official act, calling on" the Government's efforts in the casting spark light lfkerhtasis national company guaranteeing depositors ' funds to improve banking. "

The parliamentary Finance Committee, proposed the establishment of an insurance company keep deposits in private and public banks to reassure citizens who want to see their money in banks.

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"Do not wear yourself out to get rich" - Proverbs 23:4



WOW another great art. TY Shredd. I feel a chat coming on.. cheers

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