Member of the economy: should be allowed to open branches of international banks to advance solid investment
Member of the economy: should be allowed to open branches of international banks to advance solid investment
On: Sun 24/06/2012 8:04
Baghdad (news) .. The member of the Committee on the economy and investment MP / National Alliance / Ibrahim Rikabi to be allowed to open branches of international banks solid in the country to boost investment forward.
Rikabi, (of the Agency news): The companies major investment needs to global banks prudent to deal with it being used technological modern banking in its dealings bank to secure their money and to open special funds for lending to economic projects in the country. He added that the failure of the banking sector one of the reasons for making investors reluctant to come to Iraq for investment, which led to make the movement of investment in the country is weak, stressing the importance of providing calls to banks world known to open branches in the country. He pointed out: that the idea of opening branches of international banks in Iraq would create an atmosphere competitive between Iraqi banks as well as it was moving international experience developed in this area to the banking sector, which will gain the latest development and promotion. consists of the banking system in Iraq 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 of 2006, had 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 No. 56 of 2004, banks No. 94 of 2004, with a minimum of the founding of a bank in Iraq 100 billion Iraqi dinars (ie, up to $ 85 million (. / End / 8. n. r /
Source: ikhnews
