Expert: restructuring banks conduct necessary to support the economy

Economic expert said Jalil al-Rubaie, the importance of restructuring the banking sector branches of government and private sectors through the capital increase and the introduction of modern banking technology in their work, for the advancement of the national economy .

Rubaie said: The Iraqi banking system fails a lot about the evolution in international banks as a result of wars and international sanctions that were imposed on Iraq during the nineties of the last century, ماجعل Iraqi banks lacks modern methods and mechanisms that facilitate banking and completed transactions as soon as .

And between: the restructuring of the banking sector, both public and private sectors is very necessary for the process of economic in the country, because it will help to increase the capital and the introduction of electronic technologies of modern banking in his work, and this is what investors want when they come to invest, what would a sustainable development in the country and the large investment .

Noteworthy that the banking system in Iraq consists of forty-three banks, as well as the Central Bank and distributed by property (7) government and banks (30) Al Ahli Bank, including (7) Islamic banks, in addition to (6) foreign banks .

Although the Investment Law No. 13 of 2006 has excluded investment in the banking sector of its provisions except that the investment in the banking sector takes its legal framework based on the legal central bank No. 56 of 2004, banks No. 94 of 2004, with a minimum to create a bank in Iraq 100 billion Iraqi dinars (ie around 85 million dollars