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Decision to increase the capital of private banks and a reversal on the banking merger | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 26, 2017, Pages 2-5 | ||
| Author | ||
| Abbas Jassim | ||
| Abstract | ||
| The first targets of private banks is to promote and strengthen its financial position by ensuring the rights of depositors and fulfill all obligations and debt, with all the measures taken to avoid exposure to the obstacles that have led to bankruptcy, one of the most serious crisis faced by banks. In other words, the success of the banking business should be characterized by solvency which is characterized by the magnitude of the money owned by these banks and guaranteeing the rights of shareholders of the capital, reserves and this refers to the role of the large and important and vital for effective banking Therefore, the banking business in the arena of local economic was the beginning of capitals small in line with the economic situation experienced by this work, where the situation has banking first private bank at the foundation was its capital billion Iraqi dinars, a bank for investment, but it did not reach the level that is consistent with this increase, while there were a number of banks with capital of less than that was characterized by creativity and recovery work in the banking and so far characterized by a prime location for its financial position, especially when evaluating the results of private banks issued by the Central Bank in the international system (CAMELS). The measures taken by the monetary policy of the Central Bank of Iraq is the issuance of instructions based on the decision the board made its session in 1454 numbered 18/2/2010 obliging banks licensed to exercise banking to increase their capital (250) billion dinars during the period of three years from the date of this resolution and to be (100) Milirkhalal one year and (150) billion dinars within two years and (250) billion dinars during the three years from the date of this resolution. In the case of non-completion of capital to the extent required within the specified period, the license granted to the Bank will be canceled | ||
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