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Parliament: you cannot rely on the private banking sector without Government in the conduct of State

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Hkp1
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Parliament: you cannot rely on the private banking sector without Government in the conduct of State

Post by Hkp1 on Wed 30 Jan 2013, 2:20 am

Parliament: you cannot rely on the private banking sector without Government in the conduct of State financial matters



Date: 2013/06/30 08: 00: 42 Wednesday


Baghdad
(newsletter) ... Rejection of economy and Investment Committee member,
MP from the Kurdish Coalition bloc//Jassim Mohammed Hussein, the idea of
reducing the State-owned banks and reliance on private banks in the
conduct of State Affairs.

He said Hussein (News News Agency): the
proposal made by some economists to reduce the number of State banks
and the reliance on private banks "not successful" and does not serve
the country right now, because those banks operate to their advantage
only for profit.

He added that reliance on banks in the conduct
of State Affairs in the current circumstances have given legal
legislation discreet and censored on banks would hurt the national
economy, especially as some banks recently have seen corruption and
smuggling operations.

This has a number of economic and financial
experts to reduce state banks by merging them together and rely on
special civil State banks for the purpose of giving the actual role of
the private sector for the promotion of the national economy.

The
banking system in Iraq consists of forty-three banks as well as the
Central Bank and distributed by the property (7) and (30) Al Ahli Bank
including (7) in addition to Islamic banks (6) foreign banks./finished/8
n. p.

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