Economic expert: Iraqi financial sector can not be sold to third party.

Admin Mon Sep 17, 2012 10:03 am

September 17th, 2012 08:00 am

BAGHDAD / NINA / the economic expert, Hilal al-Taan confirmed the Iraqi financial sector can not be sold to any third party, referring to the possibility to integrate the Iraqi banks with other Arab or foreign banks.

He explained in a statement to the National Iraqi News Agency / NINA /: “The financial sector in Iraq is the central bank, the stock market and the government and private banks, so these sectors can not be sold to any third party whatever their nationality.”

He added: “The Iraqi banks need to gain experience of Arab and foreign banks, because these banks are most sophisticated, and that comes through the merger between banks for years, and should be determined in agreements between the merging parties.”

He noted that the world has not seen any sale of the financial sector of a country to another. “

It is mentioned that high-level Iraqi delegation will attend a conference on investment in the banking sector and banks in Iraq, which be held in London on 18 and 19, Sep.

http://www.ninanews.com/english/News_Details.asp?ar95_VQ=GDHMLH