Economist: The Central Bank has not succeeded in managing the banking system so far

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Economist: The Central Bank has not succeeded in managing the banking system so far

The financial master, Zia Mohsen, affirmed today, Wednesday, the failure of the National Bank to force its command over Iraqi banks, while he focused on that one reason for the infringement is the predominance forced by numerous ideological groups.

Mohsen said in an explanation to the = “The National Bank of Iraq doesn’t can handle the financial framework,” taking note of that “the primary issue lies in the discipline of Iraqi banks by outer gatherings addressed by the Government Bank.”

He stated that “there is a defect in the management of granting licenses to Iraqi and Arab banks as well” and that “the Central Bank did not succeed in managing the sanctions file and removing them from Iraqi banks.”

Mohsen ended his speech by saying, The Central Bank noted that “the reasons for the violations are the hegemony imposed by many political parties,” but did not identify the banking system’s issues or the dollar exchange crisis.

The financial master, Mustafa Akram Hantoush, had affirmed that the action taken by the National Bank of Iraq was to concede working licenses to Jordanian banks and to work in the nation, showing that it was the obligation of the National Bank to fortify Iraqi banks rather than Jordanian ones.

In a meeting with the Maalouma Organization, an individual from the Place of Delegates, Suhaila Al-Sultani, guided an inquiry to the National Bank in regards to endorsement to concede licenses to Middle Easterner and Jordanian banks specifically, while he affirmed that there are many financial issues confronting Iraqi banks.