Banking expert: local banks and growing need for law amendments

Date: 02/02/2013 11:32:48 Saturday



Baghdad (news) .. According to banking expert Mohsen Ali, that banks steadily growing civil heads of their money because of the increased size of their deposits, calling to amend the Banking Act year to support and promote the banking sector.

Ali said (of the Agency news): The annual reports of the Central Bank indicate that private banks continues to grow and has a significant contribution in the development of the national economy through its funding of investment projects and all the different economic sectors.

He added: that private banks experiencing a significant increase with money and capital resulting from the increased volume of deposits and working to invest that money in investment projects, indicating that it is constantly growing and play a big role in the activity of the market and the national economy.

The banking expert: the importance amend the Banking Act of 2004 in accordance with the laws that are working on international banks to support the banking sector, which is one of the most important economic sectors in the country. / End / 8. N. P /


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