Banking: the experience of open international banks in Iraq is successful .. And hurt the local banks

Banking: the experience of open international banks in Iraq is successful .. And hurt the local banks

Dated: 08/15/2012 11:28:47 Wednesday

Baghdad (news) .. I suggest a banking expert Hossam Obaid Ali, support of private banks and the provision of facilities have, instead of going to open branches of global banks in Iraq as serving their own interests and harm the banking sector.
Ali (of the Agency news) said on Wednesday: The experience of opening branches of international banks, is a successful in Baghdad and the provinces they were limited in recent times on the banks is sober and trying to plunder the riches of the country and the seizure of the capabilities of the country and damage to banking sector. He added, should support the private banking sector with all the necessary for the advancement of the process of investment, through its contribution to effective as the basis for development the country’s economic, adding that the international banks not serve the national economy does not contribute to driving the investment in the country because the goal of their work is to serve her country and hurt the Iraqi economy. 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 has been 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 (ie around 85 million dollars (. / Finished / 8. d. Q /
Source: ikhnews