A member of the Finance Committee: the advent of foreign banks will support the Iraqi banking sector and earn experience

Date: 27/08/2012 13:00:58 Monday



Baghdad (news) .. According to a member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib, that the increase of foreign banks in Iraq, according to Law No. (21) for the year 1997 will enhance the work of Iraqi banks and supports the Iraqi banking sector.

Said Najib (of the Agency news) on Monday: that this law allows for all foreign banks and Arab to open branches in Iraq or post Iraqi banks according to guidelines the central bank, indicating, that the work of foreign banks enhanced the work of Iraqi banks and promote the banking sector.

She added: leave for banks to invest in Iraq be within the central bank, which controls the Iraqi governing monetary policy and all bank contrary to these controls withdraw its investment license.

She noted: that allowing foreign banks to invest in Iraq came to the reluctance of Iraqi banks and the lack of global expertise and technology has called for the need for the participation of foreign banks with Iraqi banks to gain experience and the advancement of Iraqi banks.

She explained: that the Finance Committee in the process of holding a workshop for all private banks and government to discuss the places bugs and propose new laws re-structure of the banks and serve the banking sector. /


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