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View Full Version : Financial rep demanding CBI by requiring foreign banks to finance investments



Hue Mi
04-08-2014, 10:06 PM
Financial representative demanding the Central Bank by requiring foreign banks to finance investments (http://www.dananernews.com/News_Details.php?ID=4638)

2014-04-07

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Baghdad/JD/... The parliamentary Finance Committee, has asked the CBI to oblige foreign banks and Arabic working in Iraq by financing investment projects to contribute to the economic development of the country.

Committee member Rep. Jimmy Abdelkader agency/JD/: "the experience of opening branches of global banks, either foreign or Arab in Iraq or Kurdistan is not new but those banks operate only in their own interest and intervention projects and limited trading for profit without contributing to the financing of large investment projects.

He added that the work of banks in Iraq only currency "Finance" loans with simple amounts for projects limited, noting that the Central Bank is required to issue regulations requiring foreign banks and Arabic the financing of investment projects to contribute to the economic development of the country.

The Central Bank, has announced the opening of the 15 branches of Arab or foreign banks in the country during the last three months of the year 2014 after granted permits by the Bank pursuant to Act No. 49 of 2004. /finished/8/