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BatmaninIraq
06-07-2015, 10:41 PM
Parliamentary Finance: Central Bank and the banks are trying to recover the confidence of the citizen

Sunday 07 June 2015 | 11:56


Iraq's banking sector has witnessed in recent years a decline in the confidence of the citizen by the departure of government support as well as the lack of private banks of modernity and laws to deal with present

Qurtas News / Baghdad
Finance Committee indicated in the House of Representatives, that the Iraqi Central Bank and private banks are trying to retrieve the confidence of citizens and civil banks, unexpected banking business recovery after the recent decisions of the bank.
Committee Chairman Ahmed Chalabi for "Ply News", "the Iraqi banking sector in recent years has seen a decline in the confidence of the citizen by the departure of government support as well as the lack of private banks of modernity and laws dealing with the present."

Chalabi said that "the Iraqi Central Bank and private banks in particular are trying to recover that trust for citizens through the adoption of frameworks and modernity in the deal as well as choose the shortest mechanisms used in banks to the customer not to mention government support for it."

Chalabi said that "the government's approval to deposit funds of public sector companies in the private banks will contribute to the development of the work of banks, especially since most of the private banks are suffering from a scarcity of funds and vulnerable to bankruptcy."

Chalabi predicted that "the next stage there will be a recovery in the work of banks, especially after the recent actions taken by the Central Bank and the desire of banks that evolution."
The central bank decided to support private banks in the amount trillion dinars and kept her from granting soft loans to citizens for the establishment of industrial projects, agricultural and real estate.