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Qusay al-Abadi praises at the invitation of Mr. Ammar al-Hakim to activate the banking system in the

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rocky
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Qusay al-Abadi praises at the invitation of Mr. Ammar al-Hakim to activate the banking system in the

Post by rocky on Mon Mar 11, 2013 8:41 pm

Qusay al-Abadi praises at the invitation of Mr. Ammar al-Hakim to activate the banking system in the country



Monday, March 11 / March 2013 13:55



{Baghdad: Euphrates News} praised member of the Committee on Economy and Investment parliamentary Qusay al-Abadi invitation head of the Islamic Supreme Council of Iraq Ammar al-Hakim to activate the banking system in the country.

Ebadi said, told {Euphrates News} said Monday that he "can not be found in the country's economy and strong investment without funding," adding that "banks in our work within the framework of a given area and running like offices banking and there is no have rights in law has not been prescribed have laws help them to invest and give loans to the private sector. "

Abadi said he, "If we did not have an effective banking system with real age we can not create an economic environment because the private sector does not have to cover all amounts friendly projects carried out by".

He praised the invitation head of the Islamic Supreme Council of Iraq at a business conference held in Baghdad to "provide effective banking network to finance the private sector and updating legislation to which they relate," he said, adding that "these things if I did serve the Iraqi citizens and move the wheel of development in the country."

Abadi went on to say that "if we did not think to change the banking system in the country through the development of new legislation or powers can not keep up with the process that will help the development of a country which has suffered a lot of deprivation."

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed according to ownership between {7} state banks and {30} waged, including banks {7} Islamic banks, in addition to {6} 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 {any up to $ 85 million}.

It is said that the head of the Supreme Islamic Iraqi Council called at the first annual conference of businessmen in Iraq on the first Saturday to provide effective banking network to finance the private sector and updating legislation to which they relate. Ended 2

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Re: Qusay al-Abadi praises at the invitation of Mr. Ammar al-Hakim to activate the banking system in the

Post by Neno on Mon Mar 11, 2013 9:15 pm

Told you, it isn't the system needs updating, it is the politicians that need updating... lol!


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