Thursday, June 2, 2011

CBI: the investor's funds in Iraqi banks insured

CBI: the investor's funds in Iraqi banks insured

. Palm - The Central Bank of
Iraq adviser, on Sunday, that the Iraqi private banks and government able to protect the funds of investment companies.

 And the appearance of Mohammed Saleh said during a media statement that the government and private banks are able to protect the funds of investors and is working according to international systems are difficult to penetrate or as documented financial manipulation.
. Worried about a number of foreign companies from investment business in Iraq because of the loss of confidence in government and private banks, adding that several problems facing the banking performance is controlled and does not threaten the existence of strong capital to foreign investors or the Arabs for the implementation of investment projects in the country.

He said among the problems faced by the banks that the number of which still operates under programs obsolete in the operating banking and cash is not consistent with the changes of electronic occurred in the banking performance in the world, noting that the central bank operates according to a deliberate plan to improve the functioning of government and private banks emphasize the need for advancement of their betterment mail and that enhance the confidence of foreign companies work.

. The Central Bank of Iraq earlier that identified $ 250 billion Iraqi dinars as a minimum for the establishment of private banks in the country.

. And the central bank of Iraq in the last month that he would give the number of licenses to establish private banks, stressing that the increase in banks will enhance the economic role of the country.

 denied the central bank in June 24 last that the development of Iraqi private banks risk as confirmed by the Ministry of Finance continued with a total capital of Iraqi private banks one billion and 600 million dollars now, except that owned by the branches of Arab and foreign banks operating in the country.

. The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies, and manage the reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.

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