Member of the parliamentary Finance calls for the development of modern electronic banking system has the highest security standards in the banking

18-05-2013 11:38 AM


Baghdad (news) .. The member of the Finance Committee MP / coalition in Iraq / Hassan Auzmn al-Bayati, the need to develop the Iraqi banking system through the introduction of a modern electronic system has the highest security standards in the provision of banking services.

Bayati said (of the Agency news): must be coordination between the central bank and the Ministry of Finance and the Association of private banks for how to update the Iraqi banking system through modern electronic link to a network, so that it possesses the highest safety standards in the banking world.

He added: that the banking sector is the interface of the economy in each country, when interest in and development will reflect positively on the general economic situation of the country, pointing out that the Iraqi banking system is still underdeveloped and operates according to the old traditional systems.

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank Ahli including (7) Islamic banks in addition to (6) of foreign banks.


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