Expert: the restructuring of government and private banks the best way to achieve economic development

Expert: the restructuring of government and private banks the best way to achieve economic development

Dated: 8/5/2012 10:56:49 Sunday

Baghdad (news) .. Emphasized the economic expert on behalf of Jamil, the importance of restructuring the banking sector branches of government and private sectors through the capital increase and the introduction of technology of modern banking in their work, to drive investment and sustainable economic development in the country.
, said Jamil (for the Agency news) on Sunday: The banking system in Iraq fails a lot about the evolution in international banks as a result of wars and international sanctions that are hypotheses on Iraq during the nineties of the last century, making the Iraqi banks lack the means of modern and mechanisms that facilitate banking and complete transactions as soon as possible. and between: the restructuring of the Iraqi banking sector, both government and private sectors is very important in the economic process in the country because it will help to increase its capital and the introduction of electronic technology of modern banking in his work, and this is what adapts his investors when they come to invest and achieve sustainable development in the country and the large investment. It is noteworthy 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) Bank of my family, including (7) Islamic banks in addition to (6) foreign banks. In spite of the Investment Law No. (13) for the year 2006 excludes investment in 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 (ie, up to $ 85 million (. / Finished / 8. d. Q /
Source: ikhnews