Finance Committee: local banks still lag behind global

10-10-2013 10:29 AM

Baghdad (news) .. The Committee noted the existence of parliamentary financial technical and administrative problems have prevented the development of the banking sector in the country, stressing that local banks still lag behind the world in terms of the techniques and developments.

The Vice-Chairman of the Committee MP Ahmed Faizullah (of the Agency news): The local banks still follow traditional systems old and used craftworks, especially in the operations of Statistics and other, causing delay the completion of banking transactions and increase the cases of financial and administrative corruption.

He added: that the Central Bank of Iraq to Aithml responsibility for failure of the banking sector alone, but the entire state bears responsibility for it, either from the government or the House of Representatives not to prepare them the appropriate environment in which
Allow for the development of this important sector.

He pointed out: that there are technical and administrative reasons prevented the development of the banking sector, calling to overcome in order to support local banks technologies through the use of modern technological mechanization that facilitate and speed up the completion of transactions.

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. / End / 8.'s . /


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