Finance Committee: CBI is required to help develop non-government banks to meet standards

Posted by on Oct 29, 2013 | Leave a Comment

Financial: the Central Bank is required to develop a plan to improve the work of local banks

21-10-2013 11:30 AM
Baghdad (newsletter). The parliamentary Finance Committee, called the Iraqi Central Bank to a strategic plan for the development of the work of the local banks, according to the evolution of global banks, in order to contribute to the support and development of the national economy.

The Vice-Chairman of the Committee, said attorney Ahmed Faizullah (News Agency): existing banks in the developed countries and even advanced began with modern high technology, so its automatically instead of handmade, which is still followed in some local banks.

He added: the banking technologies will facilitate the work done by the Committee to eliminate the financial and administrative corruption in banking, and thus contribute to the support and development of the Iraqi economy in terms of encouraging international companies to work in the country.

He pointed out: that Iraq needs to go a long way to reach developed countries in various areas, in terms of legislation and end the crisis plaguing the country, these are not needed.

He continued that the Central Bank is required to develop a strategic plan to promote the work of banks obliged to develop its work and its cadres to become large banks capable

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