Finance Committee : Government banks is not suitable for financial and economic development

Posted by on Oct 29, 2013 | Leave a Comment

10/21/2013 19:41
Tomorrow Press / Baghdad: The Committee considered the House Financial, on Monday, that the reality of government banks is not suitable for the development of the financial and economic, stressing that the restructuring of those banks was launched five years ago has not been implemented properly.

said a member of the Finance Committee Secretary Hadi Abbas for “tomorrow Press “that” required now is to reform the financial system and the Iraqi banking because the development of the work of Iraqi banks governmental and civil longer necessary for the development of all other areas, “explaining that” Iraq does not live in isolation from the world, banks and financial systems is the language of the age between countries regarding common interests ” .

Abbas said that “the reality of government banks inappropriately never for the development of the financial and economic experienced by the world,” noting that “the restructuring of State-owned banks was launched five years ago and so far has not been because the implementation has not been properly.” and Abbas said that “the backwardness in banking systems Iraqi and coping mechanisms old will not bring Iraq any economic progress, “stressing that” the Chapter VII, who was suffering from Iraq denied the government banks from trading the global financial but now it has become available. “

and called a member of the Finance Committee on the Government to “operate in accordance with this premise that seeks to exploit the space afforded by the liberalization authorities Iraqi banks and the possibility of dealing the financial talk. ” It is noteworthy that the Iraqi banking sector suffers from a significant decline in the banking performance and a severe shortage in the banking institutions where the number of government banks seven banks with 32 banks waged a limited dealings.

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