Two: the easiest money out of their entry into Iraq

Two: the easiest money out of their entry into Iraq

8/24/2014 0:00

Despite the facility Investment Act, as amended
BAGHDAD Mustafa al-Hashemi – the joy of pumice
in time which allowed the Investment Law No. 13 of 2006, as amended, free access to private money investors and companies to Iraq suffers each, according to two experts economists from weakness keep abreast of developments in the banking system of the country hinders access a large part of For the purpose of this money invested for the advancement of economic reality, along with the stability factor.
In this context, the adviser said the banking d. Essam Mahouelle that Iraq has suffered for years from a decline in economic performance due to old policies that have isolated Iraq from the periphery and from any developments keep pace with the times in the world of banking and modern systems.
added in a statement (morning): The process of creating access (for the development of the local General) a difficult process, as most of the budget resources derived from the process of extraction, production and export of crude oil, adding that bringing in money from abroad, and entering into investments within the country is a difficult process.
pointed out that investors have trouble insert their money into Iraq for two reasons Risn first regards the stability of the general situation of the country to the nature of the capital coward and is subject to escape when exposed to state of shock, and the second related to the development of banks and approval regimes of modern banking and the proliferation of dealing cards Alaútmanah.daia to speed up the development of the banking system by speeding up the implementation of the project divided the national banking system overall.
confirmed Mahouelle the importance of spreading the culture of dealing with money mail (credit cards or credit cards) and direct open outlets and points of sale and discharge in commercial areas scattered from the capital to engage in these activities and then circulated to the rest of the areas after the improvement of the general situation of the fact that it gives the impression to foreign investors that the payments system is moving towards improvement and that he met the evolution.
According to some of the Helms law of the First Amendment to the Investment Law No. (13) of 2006 No. 2 of 2010, the investor enjoys the benefits of Directed Capital, which led him into Iraq, and proceeds in accordance with the provisions of this law and instructed the CBI and a convertible currency, after the payment of its obligations and debts in all of the Iraqi government and all other entities .
addition to opening accounts Iraqi or foreign currency or both at a bank inside or outside Iraq for the licensed project. ”
The economic expert, Dr. Hilal Taan believes that the security and political situation faced by the country reflected negatively on attracting capital and investment into Iraq, as well as the escape of Iraqi funds to the countries of the world easily, especially they were looking for stability and safety.
added Taan in his speech for the “morning”: that “the terrorist attacks suffered by the country recently as a result of aggression” Daash “to several provinces and cities, formed a key factor in the escape of a lot of capital and reduction of attracting foreign investment in various sectors. ”
As for the Iraqi private sector, has the expert that he began looking for running his money abroad, especially he is looking for markets and countries stable, Kalamarat, Jordan and other countries, along with the inability of the Iraqi banks provide guarantees large foreign investment or attract capital, because of the situation faced by the country.
either fundamentals that contribute to the development of Iraq’s economy in all sectors, he recalled Taan It lies in the availability of security and political stability in the country in order to attract foreign and domestic investment, in addition to taking economic decisions and the application of health legislation package that supports the development process in the country.

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