Despite the evolution of the banking sector BAGHDAD – Hussein al-Tamimi Tgb drew competent affairs banking Samir Nasiri that the Iraqi banking sector is the mainstay for the construction of a national economy free strengthens the pillars of the state and pays out about the process of economic growth and stability if the bases in the construction sector strong and solid and based on scientific planning and full of competence and experience and confidence in the national capacity, especially if he can this sector that contributes to the development plans and investment in terms of construction and economic growth. loop funding added in an interview for the “morning” that the banks and investment twins go hand in hand to make the process of growth and development on a sustainable basis, especially as the sector Iraqi banking is a vicious financing first and main activities of investment and that the current stage requires Today more than ever.
Opening the way for banks to work with ease and efficiency to contribute to the support of investment because it is nerve President of the growth and evolution and development. (54) banks and pointed out that the Iraqi banking sector consists Central Bank of Iraq and (54) banks after it was in 2011 (46) banks which (6) state banks and 48 private banks were distributed to 23 commercial banks and 13 branches of foreign banks and 12 banks Islamists have ranged foreign contributions with private banks Iraqi (10-81) percent. weakness contribute Alnasiri between that all the indicators issued by the World Bank and the International Monetary Fund and the Ministry of Planning and the Central Bank of Iraq confirms the weakness of the contribution of the banking sector in Iraq, the process of development and investment, pointing to the for that matter this reasons many challenges.
Notably the rent economy depends on its resources on oil, which constitute a contribution according to official statistics for 2012 (54.7 percent) of GDP and up to 90 percent of the resources of the general budget for 2014, so it is all the other economic sectors ranging contribution between (1.3 to 14.5) percent, a modest contributions. anisotropic growth and pointed out that the rates of contribution of the banking sector in GDP for 2012 recorded a growth of mixed until he arrived in 2012 to 8 percent, however, this ratio is low compared with the banking sectors It also states that the regional distribution of cash credit granted to a limited economic sectors as well. Since the rise of these proportions to the standard rates to contribute to the economic development requires the growth of the banking sector and repaired by bypassing the challenges currently faced by so he worked the CBI in the past (2003 – 2013) on the application of mechanisms of monetary policy prudent for the purpose of achieving monetary stability and reduce inflation and building a cash reserve foreigner arrived 80 billion and $ 90 tons of gold.
Exchange rate has increased, saying it is a cover to maintain the exchange rate of the Iraqi dinar compared with foreign currencies, especially the U.S. dollar, and during the years 2012, 2013 and 2014 had an important role to play and a key to install policies above and in particularly in the area of supervision and control on the Iraqi banking sector and guidance trends that achieve the goals central in economic construction and lay the foundations and the foundations of the transition to a market economy as referred to in Article 25 of the Constitution of Iraq permanent. evolution of assets where there has been during the period (2003-2014) the development of a clear the results of the activity of the banking operations, according to official data issued by the Central Bank of Iraq for the years (2011 – 2012), where developed assets of the banking sector increased by 33 percent and capital increased by 47.5 percent and cash credit granted to 60 percent and deposits 28 percent.
Preliminary data also indicates private banks Iraqi in 2013 to achieve an important development in the profitability ratio (10-36) percent in the Return on Assets (4-10) percent and employ money (investments + cash credit) / deposits (40-158) percent and the liquidity ratio (50-310) percent and the proportion of Leverage (capital / deposits) (125-479) percent.
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