Finance Committee: local banks still lag behind global
Finance Committee: local banks still lag behind global
10-10-2013 10:29 AM
Baghdad (news) .. The Committee noted the financial parliamentary existence of technical problems and administrative prevented the development of the banking sector in the country, stressing that local banks still lag behind the world in terms of technologies and developments. Deputy Chairman of the Committee MP Ahmed Faizullah (of the Agency news): The local banks still follow the traditional systems old and used craftworks, especially in the operations of Statistics and other, causing delay the completion of banking transactions and increase the cases of financial and administrative corruption. added: that the Central Bank of Iraq to Aithml responsibility for failure of the banking sector alone, but entire nation bears responsibility for it, whether from the government or the House of Representatives not to prepare them environment appropriate that allow for the development of this important sector. pointed to: that there are technical reasons and administrative prevented the development of the banking sector, calling overcome in order to support local banks modern techniques through the use of mechanization, technological that facilitate and speed up the completion of transactions. mentions that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by the property (7) state banks and (30) Ahli Bank, including (7) Islamic banks, in addition to (6) of foreign banks. / End
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