Expert: the restructuring of government and private banks the best way to achieve economic development : On: Sun 05/08/2012 19:42

Emphasized the economic expert on behalf of Jamil the importance of restructuring the banking sector branches of government and private sectors through the capital increase and the introduction of technology of modern banking in their work, to drive investment and sustainable economic development in the country.

Jameel said on Sunday: The banking system in Iraq leave a lot about evolution made in the international banks as a result of wars and international sanctions that are hypotheses on Iraq during the nineties of the last century, making the Iraqi banks lack the means of modern and mechanisms that facilitate banking transactions and completed as soon as possible.

And between: the restructuring of the Iraqi banking sector, both public and private sectors is very important in the economic process in the country because it will help to increase its capital and the introduction of electronic technology of modern banking in his work, and this is adapt his investors when they come to invest and achieve sustainable development in the country and the large investment.

The banking system in Iraq consists of forty-three banks as well as the central bank and distributed according to ownership between (7) banks and government (30) waged, including banks (7) Islamic banks in addition to (6) foreign banks.

In spite of the Investment Law No. (13) for the year 2006 excludes investment in the banking sector from its provisions, except that the investment in the banking sector takes its legal framework on the basis of legal central bank number (56) for the year 2004 and the banks number (94) for the year 2004, and a reduction Near to establish a bank in Iraq (100) billion Iraqi dinars (ie, up to $ 85 million :