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Hue Mi
12-04-2013, 07:08 AM
Bank: amendment of article 28 of the law on banks will invest in banks (http://www.ikhnews.com/index.php?page=article&id=109947)

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03-12-2013 09:42 AM

Baghdad (newsletter). Banking expert, said Mohsen Ali, the importance of the amendment of article 28 of the law of public banks to support investment in the Iraqi banking sector, calling for the need to strengthen relations with the Arabic Bank to promote local banks.

Ali (News Agency): that private banks could play a significant role in economic development through the creation of a fund to lend to private investment in the country, that have high potential werasmal help.

He added: the Federal Government is required to support the banking sector in terms of law, notably article 28 of the General Banking Act of direct investment for the banking sector to allow it to enter the investment sector to contribute to the development of the economy of the country.

He noted that an important Arab support to the banking sector through the promotion of cooperation between the Iraqi and Lebanese Arabic, especially to open letters of credit, the Bank of Lebanon has a great desire to dealing with Iraqi banks /finished/8. b. m/