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Banker: to encourage foreign investment to work in Iraq needs a sophisticated banking system
Date: 02/12/2013 13:33:04 Tuesday
Baghdad (news) .. Refer
banking expert Mohsen Ali, the cause of declining investment in the
country to leave the banking system and the lack of security and
stability, stressing the country's need for a sophisticated banking
system to attract foreign investment companies and to facilitate
financial transactions for investors.
Ali
said (of the Agency news): The advancement of the investment process in
the country requires the presence of a sophisticated banking system
works according to modern technology to facilitate the work of the
foreign investor who intends to enter to invest in Iraq.
He
added: Iraqi banking system is still underdeveloped and operates
according to the old traditional systems which have made most investors
are reluctant to invest in the country, because the foreign investor
looking primarily the basis for a sophisticated banking system in the
investment environment that wants to invest.
It
is noted that the banking system in Iraq consists of forty-three banks
as well as the Central Bank and distributed by property (7) government
and banks (30) Al Ahli Bank, including (7) Islamic banks, in addition to
(6) of foreign banks.
Although
the Investment Law No. 13 of 2006 has excluded investment in the
banking sector of its provisions except that the investment in the
banking sector takes its legal framework based on the legal central bank
No. 56 of 2004, banks No. 94 of 2004, with a minimum to create a bank
in Iraq 100 billion Iraqi dinars (ie around 85 million dollars (. / end / 8. n. p /
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Date: 02/12/2013 13:33:04 Tuesday
Baghdad (news) .. Refer
banking expert Mohsen Ali, the cause of declining investment in the
country to leave the banking system and the lack of security and
stability, stressing the country's need for a sophisticated banking
system to attract foreign investment companies and to facilitate
financial transactions for investors.
Ali
said (of the Agency news): The advancement of the investment process in
the country requires the presence of a sophisticated banking system
works according to modern technology to facilitate the work of the
foreign investor who intends to enter to invest in Iraq.
He
added: Iraqi banking system is still underdeveloped and operates
according to the old traditional systems which have made most investors
are reluctant to invest in the country, because the foreign investor
looking primarily the basis for a sophisticated banking system in the
investment environment that wants to invest.
It
is noted that the banking system in Iraq consists of forty-three banks
as well as the Central Bank and distributed by property (7) government
and banks (30) Al Ahli Bank, including (7) Islamic banks, in addition to
(6) of foreign banks.
Although
the Investment Law No. 13 of 2006 has excluded investment in the
banking sector of its provisions except that the investment in the
banking sector takes its legal framework based on the legal central bank
No. 56 of 2004, banks No. 94 of 2004, with a minimum to create a bank
in Iraq 100 billion Iraqi dinars (ie around 85 million dollars (. / end / 8. n. p /
[You must be registered and logged in to see this link.]
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