Finance parliamentary calls for the central bank by requiring foreign banks financed investments

07/04/2014



BAGHDAD / JD / .. demanded that the parliamentary finance committee, requiring the Central Bank of Iraq and the Arab foreign banks operating in Iraq funded investment projects to contribute to the promotion of economic development of the country.

Said committee member Rep. Dler Abdelkader told / JD /: "The experience of opening branches of international banks, whether Arab or foreign in Iraq or the Kurdistan region is not new, but these banks are working for their own benefit only, and intervention projects and transactions limited to the purpose of making profits without contributing to the financing large investment projects. "

He added that the work of these banks in Iraq is limited to currency converter "banking" and the granting of loans amounts of simple projects is limited, indicating that the central bank controls the demands of the issuing banks are obliged to Arab and foreign financing of investment projects to contribute to the economic development in the country.

The Iraqi Central Bank, has announced the opening of 15 branches of Arab and foreign banks in the country during the last three months of the year 2014 after the current licenses granted by the Directors of the Bank under Law No. 94 of 2004.


http://dananernews.com/News_Details.php?ID=4638