President of the Union of banks Arabic: procedures for Central Bank of Iraq is positive towards the development of the banking sector
Baghdad (newsletter) … As President of the Union of Jordanian Arabic nationality and Sam banks Ullah, the actions taken by the Central Bank of Iraq in the development of the banking sector as “positive”, weighted with the rise of the banking sector during the coming period.
He said Fattouh (News News Agency): legal legislation is highlighted the challenges facing the Iraqi banking sector and made it work and limited but sophisticated, although private sector possesses significant experience in banking.
He added: there is broad interest and banking sectors by Arabic to support Iraq, noting that the Arabic Bank Union ready to assist and support the development of the banking sector.
He noted: the Central Bank of Iraq has good vision and strategic plans are positive and on track towards banking reform to government branches, but this work must be peppered with modifications in the Iraqi banks for the purpose of supporting and developing the sector.
He emphasized: the need for the participation of the private banking sector with public funding for infrastructure projects or otherwise for an active and major role of private sector in economic development in Iraq