Government advisor: Bank structuring decisions are a precursor to comprehensive economic reform

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Government advisor: Bank structuring decisions are a precursor to comprehensive economic reform

The monetary and monetary guide to the State leader, Mazhar Muhammad Saleh, considered the choices to rebuild government banks “an introduction to exhaustive financial change.”

Saleh said {to } that: ” The choices to rebuild government banks by isolating or consolidating are inside the system of the change strategy sought after by the Top state leader, which he finds in raising the seriousness and proficiency of government banks as a prologue to complete monetary change.”

He added, “It should begin with government funding organizations that rule 85% of banking action in our nation today and face administrative impediments acquired from past times that were filled with organization, syndication of banking business, and loss of productivity.”

Saleh added, “The way to monetary change starts with monetary and banking change.”

Last January, the Board of Clergymen endorsed the financial change plan and supported the accompanying:

1-Direct contracting with Ernst and Youthful; To concentrate on the issue of rebuilding the Rafidain and Rasheed banks, present its proposals in regards to them, and propose a guide in such manner, in 6 months or less.
2-Direct contracting from the Modern Keep money with the organization (Ernst and Youthful); To concentrate on the issue of combining banks (modern, land, rural) into one bank from its particular specialists, give the fitting suggestion with respect to it, and decide the time span expected for the consolidation and the system for moving equilibriums to the new bank.
3-Direct contracting from the Public Insurance Agency with Ernst and Youthful; To concentrate on the issue of blending the Public Insurance Agency with the Iraqi Insurance Agency, into one organization from its specialists and trained professionals, and give the proper suggestion in regards to it, and decide the time span expected for the consolidation and the system for moving its assets to another organization, as an exemption for the directions for executing government contracts (2 of 2014), and the controls gave In like manner.