Economic parliamentary: the government has all the precautions to provide the employees' salaries and obstacles useful to stimulate the economy

Author: AB, BS, MJM
Editor: AB, BS

2015/12/06 14:50

Long-Presse / Baghdad
The Commission on Economy and Investment in the House of Representatives, on Sunday, the government and the Ministry of Finance possess all precautions to provide the employees' salaries and the necessary funds for essential things, the promise of the obstacles facing Iraq "useful" to activate the economic sectors and not rely on oil only, while the private banks association called for the legislation of laws Her own.

Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani said in an interview to the (long-Presse), "The existence of private banking sector in Iraq is one of the most important things development," noting that "the end of his defense and attributed by the government and central bank piped to sobriety and enable management Technical and cash flow and the development of investment in tourism, industry and agriculture sector. "

He said al-Bolani, that "the banks no longer just offices for the disposal of the currency and an auction to sell the currency, but must take the room to contribute to the development, especially after the central bank release the amount of five trillion to revive the project", calling for a "private banking sector support."

The Chairman of the Economic Committee, that "the government and the Ministry of Finance possess all precautions to provide the employees' salaries, and funds for the necessary and basic things contained in the 2016 budget," pointing out that "Iraq is able to overcome the obstacles facing it, and that could be helpful to stimulate other economic sectors and not rely only on oil. "

For his part, President of the Association of private banks in Iraq Tariq Ali said in an interview to the (long-Presse), "The banking sector needs to enable it to move to take advantage of opportunities and not just the banking support."

He called Tariq, to ​​"legislation laws sector for cooperation with government institutions," asserting that "the private banking sector will play a major role in supporting other organizations in the work normally in abnormal conditions in the event of a partnership between him and the government sector."

The Association of private banks, announced on Sunday, for the Third Annual Banking Conference in the 12th of the current month of December first, in the capital Baghdad with the participation of Arab and wide, with the economy the parliamentary committee confirmed that the conference will chart a roadmap for private banks.

The banking system in Iraq is made up of 43 banks, as well as the central bank, and are distributed according to government ownership between seven and 30 waged, including seven Islamist, as well as six foreign banks and is distributed as follows: 600 branches throughout Iraq.