Bank: experience in global banks opened Iraq unsuccessful ... And affected local banks

Date: 2012-08-15 11: 28: 47 Wednesday



Baghdad (News) ... Banking expert suggested Hossam Obaid Ali, support facilities and private banks, instead of going to banks to open branches in Iraq being interests affect the banking sector.

Ali (News Agency news) on Wednesday: the experience of global banks to open branches, unsuccessful in Baghdad and the provinces being recently confined to non-banks trying to loot the riches and discreet country and take over the country and potential damage to the banking sector.

He added: the private banking sector must be supported by all he needs in order to promote the investment process, through its contribution to effective being the basis for the country's economic development, noting that global banks do not promote national economy and does not contribute to advancing the investment in the country because its goal is to serve the country and harm Iraq's economy.

The banking system in Iraq consists of forty-three banks, as well as the Central Bank and distributed by ownership between banks (7) and (30) Bank of my family including Islamic banks (7) in addition to (6) foreign banks.

Although the investment law No. (13) of 2006 has excluded investment in the banking sector of its provisions, however, investment in the banking sector takes its legal framework based on the legal Central Bank number (56) of 2004 and bank number (94) for 2004, the minimum to establish a bank in Iraq (100) billion Iraqi dinars (around 85 million dollars). /finished/8. Dr. o