Central Bank plans to convert the private banks to large financial institutions
31/05/2012 02:55
BAGHDAD: News Center for the Iraqi Media Network - The Central Bank of Iraq that he plans to convert the private banks to large financial institutions after the approval of the Government to amend Law No. 94 of 2004 on the integration of small private banks government banks.
The deputy governor of the Bank for the appearance of Mohammed (News Center for the Iraqi Media Network) that "the central bank does not currently have the legal authority for the integration of private banks, but has the power to persuade banks to merge literary capacity."
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31/05/2012 02:55
BAGHDAD: News Center for the Iraqi Media Network - The Central Bank of Iraq that he plans to convert the private banks to large financial institutions after the approval of the Government to amend Law No. 94 of 2004 on the integration of small private banks government banks.
The deputy governor of the Bank for the appearance of Mohammed (News Center for the Iraqi Media Network) that "the central bank does not currently have the legal authority for the integration of private banks, but has the power to persuade banks to merge literary capacity."
+
Read More Link on Right
He explained that the appearance of "the central bank awaiting the approval of the Government to amend Act No. 94 of 2004 private banks to merge with the government to make large financial institutions.
He added that "the government banks with a dominant 92% on the domestic market and that private banks do not exceed its dominance of the 10%, which does not take space from the Iraqi market."
He concluded by saying "when the government's approval to integrate the private banks the Central Bank will deal with all government and private banks on the same laws recognized when the central bank."
The Central Bank of Iraq confirms that the number of private banks arrived in Iraq to 40 banks while capital is still weak and need to be that banks more aggressive with each other to form a strong capital.
The Central Bank of Iraq is seeking to restructure the private banks in line with the general structure of the Iraqi market and the nature of his relationship with other global markets.
http://imn.iq/news/view.12741/
He added that "the government banks with a dominant 92% on the domestic market and that private banks do not exceed its dominance of the 10%, which does not take space from the Iraqi market."
He concluded by saying "when the government's approval to integrate the private banks the Central Bank will deal with all government and private banks on the same laws recognized when the central bank."
The Central Bank of Iraq confirms that the number of private banks arrived in Iraq to 40 banks while capital is still weak and need to be that banks more aggressive with each other to form a strong capital.
The Central Bank of Iraq is seeking to restructure the private banks in line with the general structure of the Iraqi market and the nature of his relationship with other global markets.
http://imn.iq/news/view.12741/
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