Source: amendments to the work of private banks

Posted in Business & money Wednesday, 18 September 2013 17: 53

Baghdad/future news:
sources, revealed Wednesday that changes will take place during the next few days to the banks.

"several modifications will be taken on the work of the private banks," he said, adding that "these adjustments will take place during the next few days."

said that despite the proliferation of private banks in Iraq numbering more than 30 banks, but did not play a central role in the development process proposal Economic in Iraq because of their small capital added to the distancing of government institutions dealing with it because of reluctance in its work.

By akhrastbad a wholesome banking expert Elias Abou, support the Iraqi banking sector and developed when opening branches of international banks in Iraq, noting that the foreign banks that have worked in the country did not offer anything new to banking.

Abou said despite the presence of foreign banks either Arabic or is working in the country, but did offer something not normal but that work similar to local banks on the one hand The opening credits and the granting of credit, adding: to open a number of branches of foreign banks in the country will not support the Iraqi banking sector and to extend the new addition to the banks being run with projects limited, unable to expand their work for fear of the security situation of the country.

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

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