Hafiz: No advanced economy without a banking system developed
Hafiz: No advanced economy without a banking system developed
09/04/2014 15:33
Tomorrow’s Press / Baghdad: stressed member of the House of Representatives and the economic expert Mehdi al-Hafez, on Thursday, on the importance of creating favorable conditions for the economic sector in order to begin the advancement of Iraq and to meet the need for such a sector, noting that there is no economy without a well-developed banking system developed.
Said Hafiz for “tomorrow Press,” said that “Iraq L94 allows local banks and private and government in which to work only, while the actual need is much higher than this figure because the economy needs a riser banking sector meets the need of a rising market and investor.”
He added that “even under the figure of the number of private banks and private, they do not exercise the banking business its shape full where that 92% of bank deposits found at the state banks and this reflects a major imbalance in the system of banking Iraqi calls for the preparation of studies adequate to determine the causes and motives, because he No advanced economy without a banking system, a sophisticated and able to fulfill the obligations and financial challenges. ” and stressed that “the central bank ethnicity., or the Iraqi banking system restricts the 41 regional banks and determines the freedom of work and adoption of plans in modern attract investors and provide banking services most sophisticated and keep up.”
The student Hafiz relevant authorities and regard the banking environment to provide guarantors of the confidence of capital through the adoption of long-term plans and projects in the planning and coping mechanisms of government. ”
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