Banker: Amendment of Article 28 of the Banking Act will boost investment in the banking sector

03-12-2013 09:42 AM



Baghdad (news) .. Banking expert said Mohsen Ali, the importance of the amendment of Article (28) of the Banking Act to support public investment in the Iraqi banking sector, calling for the need to strengthen relations with Arab banks for the advancement of local banks.

Ali said (of the Agency news): The private banks could play a significant role in economic development through the creation of a fund to lend to private investment projects in the country, the universe has a high potential and capital to help it.

He added that the Federal Government is required to support the banking sector in terms of amending the laws, particularly Article 28 of the General Banking Act, private direct investment in the banking sector to allow them to enter the investment sector to contribute to the development of the country's economy.

He pointed out: that Arab support is important for the banking sector through the promotion of joint cooperation between the Iraqi banks and the Arab, especially Lebanese to open letters of credit, especially, because Lebanese banks have a great desire to deal and cooperate with Iraqi banks. / End / 8. B. PVC /


- See more at: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D109947&usg=ALkJrhi2hKjzEwTxdFwxHH2wNFNkcMKlLQ#sthash.QcK6VJHz.dpuf