Economist: must amend Article (28) of the Banking Act to promote investment in the banking sector

Date: 01/14/2013 10:32:43 Monday



Baghdad (news) .. Chief Economist Saif al-Hilfi, the importance of the amendment to Article (28) of the Banking Act to support investment in the Iraqi banking sector, calling for the need to strengthen relations with Arab banks for the advancement of local banks.

Hilfi said (of the Agency news): The private banks could play a big role in economic development through the establishment of a fund for lending to investment projects in the country, that has a high potential and capital helps.

He added: that the federal government claim the support of the banking sector in terms of amending the laws, especially Article (28) of the Banking Act for direct investment of the banking sector to allow it to enter the investment sector to contribute to the development of the country's economy.

He noted: that Arab support is important to the banking sector through the promotion of cooperation between the Iraqi banks and Arab, especially Lebanese opening credits Msstendeh private, because Lebanese banks have a great desire to deal and cooperate with Iraqi banks.


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