World Bank plan to restructure State banks had not achieved full success

Baghdad (News) … Member of the Finance Committee/National Alliance Deputy/abdolhossein Al-yasiri, the IMF plan devised last year (2007) for the restructuring of State banks had some successes and not a complete success, calling for the restructuring of the banking sector to encourage foreign investors to come to Iraq. He said Al-yasiri (News Agency news) on Friday: in (2007) adopting IMF task of restructuring the banking sector and the Rafidain and Rashid banks and specialized banks such as agricultural, industrial and real estate, and an estimated 10 million dollars, but did not achieve full success but few.

He is supposed to be the plan for restructuring of State banks through the introduction of modern Tech’s global banks that its relevant committees representing Executive and control in the country, said: two one was formed, headed by the Governor of the Central Bank and the membership of the Finance Minister and Chairman of the Audit Committee, while the second is the subset consisting of the heads of State banks.

He noted: the parliamentary Finance Committee will hold a Special Conference for restructuring Iraqi banks with government branches, and will issue reasons for hesitation not to implement the plan of the World Bank for State banks to identify the most important updates and solutions to problems encountered, continued: in addition to know the compatibility of banking with monetary policy in the country to be enacting laws to support the banking sector.