Parliamentary investment calls for the government to support private banks

05/22/2015 13:37 GMT


Agencies - the economic and investment commission said the parliamentary private banks experiencing financial shortage and the government's support.

And between committee member Ahmed Salim said there are several doors that can open in front of the Iraqi economy, including investment door, in addition to the modifying Law No. 13 to bring in capital, adding that "what is going through the country currently is directly linked with the economy and has negative impacts what makes the market In the case of an ongoing recession.

He said that to deal with the market situation at the moment has to be that the government with the support of private banks amounts of loans from the central bank according to the standards and controls, indicating that most of the banks are suffering a shortage of funds due to lack of money in the market trading properly to the scarcity of the currency and this is reflected on the traders in the private sector General.

He continued that the proper security of the country is in crisis in light of the economic crisis and there are many reforms on the side of the economic sector of Iraq, including opening the doors to global banks and the exchange of bonds by private banks and partners in this aspect and all that enters in the revitalization of the Iraqi economy factors.

He noted that the parliamentary committee the economy has a lot of reforms in the Iraqi economy, but it must be the stability of the security situation.

Iraq plans to request emergency funding of $ 400 million to $ 700 million from the International Monetary Fund, while the government made a decision to issue government bonds worth $ 5 billion, and it continues to negotiate on their own terms.


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