Investment Babylon: We call for the need to reform the banking system and a policy of soft loan

February 5, 2014 12:55 Last Updated: February 5, 2014 12:55



Called the Investment Commission of the province of Babylon, on Tuesday, to the need to reform the banking system in Iraq and a policy of soft loan, arguing that most investors are suffering from domestic banking laws that prevent them from borrowing. Integrity, according to newspaper

The Director General of the Commission Alaa bayonet "The banking system in Iraq suffers from most of the investors, especially banking laws that prohibit the granting of loans to investors and citizens alike smoothly, making the most of the projects are scattered and private investment projects involving housing," noting that "the movement's financial Iraq is an essential part and an important part in building the infrastructure. "


The bayonet that "there is very much needed to facilitate lending policy is not an investor, but the citizen in the purchase of residential units," adding that he "can not for the real estate sector to grow and prosper and achieve real results on the ground without entering Banks whether government or the private sector."

He called bayonet to "the need to reform the banking system in Iraq for the advancement of the economic reality of the investment," and urged "a conference in Baghdad of international banks, Arab and local and investors to discuss the reality of banks and investors and give the signal is also important for investors wishing to enter the Iraqi market, promising".

It is noteworthy that Iraq suffers from a severe housing crisis, due to the increasing number of the population compared with the number of residential complexes, in addition to the inability of citizens with limited income from the construction of housing units of its own because of the high price of land and construction materials.



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