ECONOMIC ADVISOR TO THE SERVANTS, SEVEN STATE-OWNED BANKS ACCOUNT FOR 91% OF BANKING TRANSACTIONS IN IRAQ
ECONOMIC ADVISOR TO THE SERVANTS, SEVEN STATE-OWNED BANKS ACCOUNT FOR 91% OF BANKING TRANSACTIONS IN IRAQ
July 23, 2016
BAGHDAD / IBN
Economic Adviser to the Prime Minister, Dr. Mohammed Saleh confirmed the appearance that the government banks in Iraq are seven banks and accounts for 91% of banking transactions in Iraq, and they suffer from very large problems.
Saleh said Saturday in a statement to the Iraqi network transmission (IBN) The State-owned banks to extend my only simple banking services to the citizen does not exceed five services, while banks outside Iraq, bringing the number of services offered by 45 banking service.
He added that Iraq seeks to move the state banking sector, which is today considered as a dead body, so the government is working on a strategy to re-bank restructuring plan Rafidain and Rasheed for the advancement of the sector of the Iraqi banking by turning it from a bureaucratic government institution to a market organization that works efficiently and serve the national economy The correct format .
He pointed out that Iraq needs a new law to government banks is currently being discussed in the House of Representatives, and gives this freedom to the Board of Directors of the Bank to take the appropriate decisions in buying and selling operations and the expansion of credit and all the banking law.
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