30 banks opened over four years in Najaf and economists are counting on the "city’s prosperity and security" to open more
Editor: NF, RS 07.10.2013 15:48
Range Press / Najaf
Detection Economists Najafion, on Wednesday, that the number of private banks that have been opened in the province arrived during the last four years to 30 banks, Aazin reason to security and stability witnessed in the province, and as for drew to Najaf is today a magnet for all business and corporate and investment due to the presence airport where visitors flocked to it, citizens welcomed the opening of banks that "go beyond routine witnessed by government banks."
The Director of the United Bank Ahli Investment in Najaf Ali Ancoche in an interview to (range Press), "The number of private banks in the province reached so far 30 banks waged during the past four years, noting that" the security situation and economic situation in the province has allowed the opening of this number of banks Eligibility. "
And between Ancoche that "Najaf is a magnet for all businessmen and investment companies and private banks, because of the movement enjoys substantial economic and security stability, in addition to the presence of the airport which facilitates the influx of visitors to visit the holy sites."
The Ancoche pointed out that "there is a tendency for most of the owners of the private banks in the capital, Baghdad, to open branches of their banks in the holy city of Najaf, which is a safe area and encouraging capital."
For his part, economic expert on behalf Antoine in an interview (range Press), "The situation is normal for the banks is that each (10) thousands of individual one bank, but in Iraq, unfortunately, we find that for every (40) thousand individual one bank," referring to "The evolution of the banking business and the return of the citizen’s confidence in banks, in addition to the activity of banks and its multiple roles to make the holy city of Najaf witnessing this issue of the banks."
Antoine pointed out "the province of Najaf being a tourist town, it needs to further reconstruction and infrastructure, as well as cultural centers and hotels," noting that "the banking business is a key pillar in the development processes."
For their part, welcomed citizens Najafion the presence of banks in maintaining civil, being Bhsabhm the beyond routine witnessed by government banks, as well as provide them with more banking services.
He said the citizen Karrar Abdul-Zahra (40 years old) in an interview to (range Press) that "the presence of private banks increases the chances of the work of the private sector, especially small entrepreneurs, It gives these banks soft loans to them and interest rates are reasonable, and activates the existence of private banks sector investment, as reflected on the evolution of architecture in the city and animates the movement of the private sector. "
The Najaf witnessed at the beginning of last week the opening of the United Bank for Investment, the last Ahli Bank was opened in the province, and announced its readiness to provide all banking services to customers, also announced its readiness to provide all services for investment projects.
The Foundation Singaporean money management revealed on Monday (the third of June 2013), that five private banks in Iraq has achieved total profit than the 207 percent during the past three two, while expected to continue that sector profitability and growth in capital over the next decade, Despite the difficult business in Iraq, called on the Iraqi banks because "overcome some of the challenges" to continue its increasing growth. "
It is noteworthy that the Association of private banks in Iraq, reported in (the fourth of January 2013), the number of private banks in Iraq reached 32 banks in two decades, in addition to increasing the number of branches in Iraq to more than 500 branches and assets of these banks amounted to more than 12 trillion Iraqi dinars, as the volume of deposits in which eight trillion dinars, and arrived credit cash in which a total of three trillion and six billion dinars, while reached the capital of these banks and their reserves to three trillion and three billion Iraqi dinars, and that the total profits of these banks exceeded 477 billion dinars.
The study estimated that the local banks’ capital amounted to government until the end of October of the previous year 2012, a total of 754 billion dinars, compared with more than four billion dinars for private banks, and investment balances in banks operating in Iraq recorded until 31.10.2012, an amount approximately six billion dinars (5.947), and the share of government banks, including 4.929 billion dinars, compared with 1.018 billion dinars for private banks.
The bankers and economies, Iraqis carried in the (15 May 2013), the Ministry of Finance and the Central Bank of Iraq responsible for the decline and the reality of domestic private banks, while the latter accused of encouraging Arab and Iranian banks at the expense of Iraq.
The International Monetary Fund said in a report issued in (the 21 of March 2013), after the end of consultations in the Jordanian capital Amman, between a delegation from the Fund and an Iraqi delegation headed by the Minister of Planning Ali Shukri, and seen by (the long-Presse), that the improvement occurred in the financial sector , but he stressed that he still needs a "greater efforts by the central bank in the revision of monetary policy tools and strengthen banking supervision, and to accelerate the restructuring of the banking system."
The International Monetary Fund called the Iraqi Central Bank to take measures to gradually towards the liberalization of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year.
UNFPA emphasized that "the establishment of a banking system nationalist requires abandoning the current model, which is controlled in which weak banks owned by the state, which enjoys preferential treatment apart from private banks," calling on Iraq to do to strengthen its institutions, public finance to ensure efficiency and transparency in the use of oil revenues http://www.almadapress.com/ar/news/1…#1610;-ا