********* Association calls for private banks to restructure the banking sector

Admin Mon Sep 22, 2014 9:18 am

22/09/2014

BAGHDAD / JD / .. called the Association of private banks, the central bank to develop a plan to restructure the banking sector, as pointed out that the banking system has a big role in attracting investment to the country.

The executive director of the Association Abdul Aziz Hassoun told / JD /: that "the Iraqi banking sector is still not integrated structure and needs to be re-structure through the legislation of laws and issue the necessary instructions and decisions that would raise the level of performance of local banks."

He added: "The banking system in the country has a big role in attracting foreign investment, the fact that the investor looking for a safer environment and with banks that have efficient to ensure his money."

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

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