CBI Director: Iraq has a lot of potential; Needs a clear policy to support economy

Posted by on Oct 27, 2013 | Leave a Comment

Dry: the financial sector need a clear policy to support the economy

30/07/2013 12:00 AM

said Director General of Commercial Bank of Iraq (TBI) Hamdiya dry that the financial sector in Iraq has the potential of thing a lot, but it need clear policy orientation towards the destination sound from which to be able to contribute effectively to support the Iraqi economy.

said “morning” that Iraq possesses a strong economy it takes to be a Tiger next to Asia, pointing out that the political situation in the country and the security side, have had the effect is clear in delaying the process of economic growth, the afterthought that despite all the problems that has plagued Iraq, it does not prevent from that represents the Iraqi economy touchstone.

showed dry that stumbled fiscal policy would adversely affect the delivery of services, calling to put Strtejah future will find effective alternatives through benefiting from the revenues of industry and agriculture as the two pillars of the pillars of the Iraqi economy after the decline in the contribution of these two sectors in the GDP by about clear during the past three decades.

Pointing out the importance of an amendment to the Banking Act, which is inappropriate and inconsistent with the role that should be played by the banking sector in this period, as well as the need to speed up passage of a law that would enhance the reality of financial and banking sector in the country, including allowing banks to exercise their work without being bound by law the old one.

The parliamentary Finance Committee has recently called for the establishment of a special independent body concerned with the affairs of Iraqi banks are in isolation from the central bank to support the development of the banking sector in the country.

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