World Bank calls for the involvement of private banks in the Implementation of government projects

January 25, 2012
Baghdad, January 25 (Rn) – The World Bank, private banks, able to carry out banking transactions with government institutions, stressing that the size of the capital funds of banks to Aadhar transactions, international banking. He said Iraq expert at the World Bank Majid picture, told the Kurdish news agency (Rn ) that “the private banks Iraqi able to participate in the implementation of transactions with government official with the government banks.”

He added that “the problem faced by the private banks is that the problem of Posts banking, deposits, and size and the ability of customers bankers to pay the deposits and how the coordination of private banks with international banks. “ He continued that “the size of a big money and small private banks is normal it is located in all countries of the world, but that the banks would govern the evolution in the development of their dealings banking and codified.”

The Iraqi government is still limited in its financial transactions on the government banks approved it by 85%. The total capital of Iraqi private banks billion and $ 600 million currently, except branches owned by Arab and foreign banks operating in the country.