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View Full Version : Parl: State banks financial realities not suitable for financial & economic devel'pmt



Hue Mi
10-22-2013, 09:59 PM
Parliamentary: financial realities of State banks is not suitable for financial and economic development (http://www.alghadpress.com/ar/NewsDetails.aspx?NewsID=4603)

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Secretary Hadi Abbas

Author: Editor: gh Reporter:
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2013-10-21 19: 41

Tomorrow/Baghdad: the Finance Committee in the House of representatives Monday, the reality of the State banks of financial and economic development, stressing that restructuring those banks began five years ago and had not been implemented properly.

A member of the Finance Committee Secretary Hadi Abbas for "tomorrow", "currently required is reform of the financial and banking system of the development of alara action of governmental and private banks is necessary for the development of all other areas," he said, adding that "Iraq does not live in isolation from the world banking and financial systems is the language of the era between countries with regard to common interests".

Abbas said that "the reality of State banks is never for financial and economic development of the world," Noting that "the restructuring of State banks was launched five years ago and so far have not been that implementation has not been properly".

Abbas noted that "failure in the Iraqi banking systems and deal the old will to Iraq any economic progress", Chapter VII which was suffered by the Government of Iraq denied the banks ' financial dealings, but now it's available."

Member of the Finance Committee, called on the Government to "act in accordance with this spirit so as to exploit the space offered by the liberalization of Iraqi banks and authorities the possibility of modern financial dealings."

The Iraqi banking sector suffers from a significant decline in the performance of banking and banking institutions with State banks seven banks with 32 private limited bank transactions.