The Impact of the Financial Crisis in Kurdistan Region on the Financial Performance

Abstract

A repeat of the financial crises in the world interesting phenomenon of concern and interest, and the reasons for this is due to the serious consequences that are shaking the economic and political stability of the States, As well as the proliferation of these crises to include other countries economic and financial openness witnessed in these countries and the fact that these countries have a membership in the World Trade Organization Based on the International Monetary Fund reports that during the period -19801999 suffered more than two-thirds of the Member States in the Fund's severe financial crises, and this was repeated crises Included the countries of East Asia (Asian tigers crisis), Russia, Brazil, Argentina, Mexico and the rest of Latin American countries, and the United States intensified the damage causedThe researcher Distribute 35 Questionnaire to the 7 commercial banks in the city of Duhok There were 30 valid for analysisAnd research aims to know the impact of the financial crisis on the financial performance of the commercial banks in the city of Duhok and recognize the financial crises and the nature of the relationship between financial crises and financial performance. The study found several results including the decline in financial assets of the banks surveyed value as a result of the financial crisis and because such crises lead to the exposure of financial organizations for losses leading to falling value of its assets and reduced investment opportunities for commercial banks and the withdrawal of many investment companies from the region because of a this crisis, A correlation coefficient between the variables of the study can be interpreted -0.641 this relationship that the greater the severity of the financial crisis as affected by the financial performance of banks surveyed in the study and came up with several proposals.