Calls for the creation of a twinning between local banks and foreign

16/02/2014



BAGHDAD / JD / .. Called on the parliamentary finance committee, the CBI to put new measures which encourage the creation of a bank of twinning between local and foreign banks to promote the reality of the Iraqi banking.

A member of the Committee Dler able Agency / JD /: "The committee demanded that the Central Bank in the period preceding the development of procedures and new regulations encourage local banks to create twinning banking with foreign banks advanced to support the banking sector and its development, particularly since the bank Warka and Basra are suffering from financial problems can be solved through twinning banking. "

He added that the strengthening of bilateral relations between the local and foreign banks will be paid towards the development of the Iraqi banking system through the introduction of modern banking systems and facilitate transactions among banks, calling for a new law to speed up the legislation for banks and the abolition of the current law to promote the reality of banking.

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

In spite of the Investment Law No. 13 of 2006 has excluded investment in the banking sector of its provisions, but the investment in the banking sector takes its legal framework on the basis of legal central bank No. 56 of 2004, banking No. 94 of 2004, and has a minimum to establish a bank in Iraq, 100 billion Iraqi dinars (ie, up to 85 million dollars (.


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