Most economists agree that the strength of the economy in any country must be accompanied by a solid banking sector capable of meeting the requirements of development and investment.
This view has been and remains the most important requirements of international investment companies to start the implementation of strategic projects in the country and was one of the obstacles to attract global investment in Iraq.
The previous phase has witnessed a precise diagnosis of this situation by economists who have persisted in demanding a solid banking sector to meet the requirements of international investment companies.
The observer notes that there is a slow pace in achieving the reform goals because of the lack of economic reform requirements, including the existence of a banking sector qualified to respond to the requirements of reform - according to experts - .
Why is there no such banking sector?
The main reason behind the absence of such a sector is the lack of confidence in the banks, whether by the government or the citizen, and regardless of the reasons for the lack of confidence, which became known to the deceased, but it requires restoring confidence in the banking sector to be possible to implement economic reforms in the most important One of its requirements is to provide a banking sector capable of implementing the reform programs of implementing sustainable development projects.
After a series of measures taken by the Central Bank to correct the performance of banks lagging, which is relatively few, and the response of the banking sector in general to the requirements of banking reform, confidence returned to this sector, this first step in restoring confidence led to change the pattern of dealing with banks in the direction
the correct .
It is now required to restore the confidence of the citizen in the banking sector, so as to re-deal with the banks, and perhaps the Central Bank to adopt the restoration of confidence through several procedures, including the settlement of salaries of employees in banks and guarantee and then work on the enactment of legislation to ensure deposits of citizens to return money piled in Houses to banks to invest in the implementation of development projects and thus achieved an advanced step on the path of economic reforms mortgaged success with the availability of banking sector solid and thus can restore the confidence of global banks Correspondent banks Iraqi is required to attract international companies To rebuild Iraq, trust is the foundation of success.
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