Lack of banking services reflects the economic crisis in Iraq

BAGHDAD – News Network Iraq – The Central Bank of the country is suffering from a low per capita share of banking services to reach an average to one bank per 40 thousand people, is a big difference from what exists in neighboring countries.

Deputy Governor of Bank of the appearance of Mohammed that the country suffers from a lack of the per capita share of banking services is low and the average branch per 40 thousand people with per capita in the surrounding countries is a branch for every 10 thousand people.

He said the deputy governor of the Bank to increase the number of bank branches in Iraq, double-edged sword The opening of any bank should be coupled with an increase of capital, because no increase in capital may lead to dependence on the deposits of citizens and this danger. And that the owners of banks welcome the idea of a capital increase to be considered will lead to the introduction of additional shares in the market and depreciates.

According to statistics published by the Iraqi Ministry of Finance recently, there are 25 banks waged, and five state banks in Iraq and most of those five banks: Rafidain, which has 190 branches in all provinces and abroad, except for the Kurdistan region in addition to the Rasheed Bank, which has 150 branches in and outside of Iraq except to the Kurdistan region by the Land Bank, agricultural and industrial.