Increasing banks' capitals to ID250 billion to strengthen them
Increasing banks' capitals to ID250 billion to strengthen them
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17 March 2010
BAGHDAD: The decision to raise the capitals of special banks to 250 billion Iraqi dinars aims to strengthen them as the lack of capitals decreases the financing capability for the real development purposes, the Central Bank of IraqCentral Bank of Iraq's advisor said on Wednesday.
"Banks in general do not have a role in the investment field despite they enjoy a liquidity percentage which reaches more than 60% and we can not pressure banks in this critical situation as the decision will make banks stronger and with more capitals, which will increase their capabilities in lending," Mathhar Mohammad Saleh told Aswat al-Iraq news agency.
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The specialist in trading and investment. "The decision will contribute in increasing the financial resources to serve the economic development in the country as most of the Iraqi banks' capitals do not exceed $50 million, which can't do anything regarding the development projects," he explained.
© Aswat Aliraq 2010
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