Deputy: underdevelopment of the banking sector and the lack of security and stability the most important challenges of investing in Iraq .. And the law needs to be amended

Date: 12/10/2012 12:00:46 Friday



Baghdad (news) .. According to a member of the Commission services and reconstruction MP / coalition of Kurdish blocs / Cheyenne Mohammed Taher, that highlighted the challenges facing the sector investment in Iraq is failure of the banking system for banking technologies global, and the lack of stability of a security fully, which led to the reluctance of many international companies to invest in the country, calling to amend the investment law format attract companies and promote the country's economic process.

Said Tahir (of the Agency news): Iraq lacks the Law sober for investment, noting that the current law No. (13) for the year (2006) contains paragraphs repellent to investment companies, Valdharorh urgent to amend the law format developed in order to attract companies and maintains their money, and eliminates routine prevalent in government departments.

She said: Baka system in Iraq is still lagging behind the global banking systems through the use of the ancient traditional banking services, confirming that the foreign investor, whether local or looking for a safe investment environment has developed banking sector to ease the transfer of its assets and maintain.

She added: that the security situation in the country almost stable but the investment process needs to stabilize a full security in the country to promote it. / End / 8. N. P /



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