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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraqi state banks account for 88% of banking sector investments

    Rocky
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    Iraqi state banks account for 88% of banking sector investments Empty Iraqi state banks account for 88% of banking sector investments

    Post by Rocky Tue 10 Sep 2024, 7:04 am

    Iraqi state banks account for 88% of banking sector investments


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    2024-09-10 03:31
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    Shafaq News/ The Prime Minister's Advisor for Economic Affairs, Mazhar Mohammed Salih, confirmed today, Monday, that government banks account for 88% of the banking system's investments, pointing out the necessity of reforming the banking system on the rules of market work, similar to international banks.
    The banking system, in its broad concept, includes all financial intermediaries, through which money flows to various branches of activity. It has become customary to limit the banking structure to banks of various types only.
    Saleh said in an interview with Shafaq News Agency: "Government banks account for 88% of the banking system's investments, and the private banking system only has 12% of those investments left."
    He added, "The foundations of market competition are incomplete unless government banks are placed on the rules of market operation in terms of efficiency and administrative governance, similar to international banks."
    He added, "The banking system must be reformed in light of the government's program that outlined the financial reform of banks, which began with the government banks reform project."
    It is noteworthy that government banks in Iraq are often criticized for their complex administrative procedures and high interest rates, while private banks, which number approximately 65 banks, are criticized for their lack of bank credit.
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