A bank expert: local banks and its growing need for amendments

Baghdad (newsletter). Banking expert said Mohsen Ali, that NCB continued growing their capital because of the increase in the size of their deposits, the banks amendment Bill for the support and advancement of the banking sector.

Ali (News Agency): the annual reports issued by the Central Bank indicates that private banks in continuous growth and has made a significant contribution to the development of the national economy through the financing of investment projects in all economic sectors.

He added that private banks have significantly increased their capital, resulting from increasing the size of the deposits and invest such funds in investment projects, indicating that they are in constant growth and play a significant role in the market and the national economy.

Banking expert said: the importance of amending the Banking Act of the year 2004 in accordance with the laws of the international banks to support the banking sector, which is one of the most important economic sectors in the country.