Expert: Iraqi banks can not interact with the global counterparts because of bureaucratic

On: Sun 27/05/2012 8:19

Baghdad (news) .. I suggest a banking expert Mohsen on the development of the banking sector through the introduction of electronic systems in modern done to give confidence to foreign investors to invest in Iraq. 
Ali (of the Agency news) said on Sunday: Providing banking sector, modern technology has become an urgent need at present to boost investment in the country forward, the fact that the investor today needs a banking system newly away his money on potential risks, pointing out that the banking sector plays a key role in attracting investors to the country. He pointed out: that the Iraqi banking sector is underdeveloped at present and dominated by bureaucratic red tape because of its distance from development taking place in the world and is unable to interact with international banks, calling on the federal government to seek to improve the sector by resorting to the use of modern technology in the management of banks, in addition to open regular training courses for staff working in this vital sector. consists of the banking system in Iraq from (43) banks as well as the central bank and distributed according to ownership between (7) state banks and (30) Bank of my family, including (7) Islamic banks in addition to (6) foreign banks. and despite the fact that the Investment Law No. (13) for the year 2006 excluded investment in the banking sector of its provisions, except that the investment in the banking sector takes its legal framework on the basis of legal central bank number (56) for the year 2004, banks number (94) for the year 2004, with a minimum of the founding of a bank in Iraq (100) billion Iraqi dinars ( Any up to $ 85 million (. / Finished / 8. d. Q /