Parliamentary Economic Committee plans to hold a conference to work out obstacles to private banks

On: Saturday 19/05/2012 18:11


BAGHDAD - The Citizen

Revealed a member of the Committee of Economy and Investment MP for the coalition in Iraq Nora Albjara, about the intention of its Committee held a special conference to the owners of private banks to know the constraints of their work and how to develop their potential.

Said Albjara in a press statement on Saturday: The Economic parliamentary resolved to convene a special conference banks collect the heads of boards of banks Eligibility to stand on the most important impediments to the work of private banks and search for a mechanism to make them able to contribute to the process of investment of the country.

She added: it is necessary to work towards the development of the banking sector in Iraq because it is an important sector of the operations of the investment in the country, noting that the investment process you need for a banking sector sober works according to the technology modern banking. It is noteworthy that the banking system in Iraq consists of forty-three banks as well as the central bank and distributed according to ownership between (7) banks and government (30) my family, including Bank (7) Islamic banks in addition to (6) foreign banks.

In spite of the Investment Law No. 13 of 2006 had excluded the 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, banks No. 94 of 2004, with a minimum to establish Bank of Iraq ( 100) billion Iraqi dinars (ie around 85 million dollars)


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