Maliki calls to review laws that hinder progress of private banks; Says private and government banks should coordinate efforts

Posted by on Oct 29, 2013 | Leave a Comment

Maliki calls for review of laws “hinder the work of private banks” and calling on the government to bank balance

Author: HH, HUA

Range Press / Baghdad
Called Iraqi Prime Minister Nuri al-Maliki on Saturday, reviewing legislation and laws that hinder the work of private banks, “calling on the central bank to” coordination between private banks and government “, while stressing bank on the need to” support the government’s domestic banks and give a chance for a balance between everyone. “

He said on the Keywords in a speech on behalf of Prime Minister Nuri al-Maliki during the first conference of Iraqi banks for which was held in Al-Mansour Hotel, in central Baghdad, and attended (range Press), “The indicators currently emphasizes low bank credit to important sectors such as agriculture and electricity,” noting that “Iraq needs today to review legislation and laws that hinder the work of private banks.”

Keywords expressed the hope that “the reach of the conference to propose amendments to this legislation,” he said, adding “we will be supportive of her.”

Keywords asked to “establish a special bank for investment involving the government and the private banks and the public,” he said, calling at the same time the central bank to “coordination between private banks and government.”

Keywords stressed in a speech delivered on behalf of the Prime Minister on the need to “do not drive failures in some private banks to harmful stress through measures harmful and unfair Ahli banking sector.”

For his part, said a member of the Association of Iraqi private banks Shirvan Omran said in an interview to (Presse term) “We need to support the government and give opportunities to compete with government banks,” and urged “not to bet on the government banks only.”

Imran explained that “until now, the instruments issued by private banks is not supported in government banks and government departments because of the procedures and the Ministry of Finance,” calling for a “change these procedures and give a chance for a balance between everyone and everyone is monitoring the work.”

The Association of private banks in Iraq, announced in (25 September 2013), it will organize an international conference later this month to discuss a variety of topics related to the banking sector in general and the amendment of the law of private banks, and with an eye to the presence of negative impact on the work of these banks, confirmed the presence of a tendency to change These laws to return to the “right track” in the work of private banks.

It is noteworthy that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by the property (7) government and banks (30) waged banks including (7) Islamic banks in addition to (6) of foreign banks.

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