Sulaymaniyah hosts a workshop for the development of the private banking sector

[ltr] Wednesday, October 06, 2 / November 2013 14:27  [/ltr]
[ltr]Twilight News / Information Center held a Kurdish and strategic studies in the Kurdistan Region, Wednesday, and a workshop for the private banking sector and development in Iraq and the Kurdistan Region.


 The director of the Education Organization of Economic Hossam wise Alborznge for "Twilight News" that "the banking sector in the region was not able to support and facilitate private sector investment to the presence of many of the constraints set by these banks in front of the lenders as a request guarantees many high interest developed by loans and short duration of the re-this loans. "


For his part, said economic expert Mehmet Fatih that "the banking system in Iraq has a great experience, but this system was not able to fulfill the role required in support of the economic process in Iraq to a loss of confidence between him and the citizen, and this because of the many political upheavals in Iraq."


He attributed the Light, "the reasons for the reluctance of companies to handle global economy in the region to the lack of foreign banks," he said.


The specialists in the banking business stressed the need to develop the private banking sector through the enactment of new laws that will promote this sector which has suffered a significant decline in recent years.


It is said that statistics from the Iraqi Ministry of Planning show that the contribution of the private sector in the state budget ranging between 3% and 7%, which is considered by experts felt very weak, compared to the role of this sector in the budgets of some countries, which amounts to about 90% in developed countries industrially .




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