Applicable: no ambulance banking sector will negatively affect the national economy as a whole

A member of the parliamentary Finance Committee Faleh applicable to the national economy in all sectors will be affected if there is no ambulance in the country’s banking sector.

He said in effect, told {Euphrates News} Saturday that “the banking sector of the important sectors and vital and significant contribution to the calendar and stimulate the national economy, whether that relying on internal traffic or on investment and attract money and also helps a great help in the volume of imports and foreign contracts. ”

He pointed out that “when we open letters of credit there must be a solid banks able to be equipped to deal with international counterparts.”

The MP added the mass citizen “If what has been activated side banking by accelerating some important laws and give grants and licenses to banks civil and private sector to enter into a significant contribution to the revitalization of this movement banking and strengthen systems and training courses فستؤثر also on the economy of the country. “

He explained that “all of these measures if implemented, will be channeled to check banking reform therefore if there is no ambulance in the country’s banking sector, this will have a negative impact on the national economy,” noting that “the development of banks affect on the national economy of Iraq in all its branches. “

He continued in force Speaking “So far, we find that the movement of investment in the country is weak due to the weakness of the banking sector and infrastructure,” adding that “ambulance banking sector in the country will contribute to a positive contribution to improving the country’s economy in general and will serve the Iraqi people in particular. “

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed according to ownership between {7} state banks and {30} waged, including banks {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 {any up to $ 85 million}.