At least we know Iraq is still working on thier banking system

Both public and private. We have heard so much trash out of the guru's on the banking system, News that is real becomes quite refreshing.....

Banking: banking system "fragmented" and need to establish Bank senior contributor


Suggested that the Executive Director of the Association of private banks establish Abdelaziz goldfinch, a big contributor Bank resulting from the merger of banks with small capacity to assign and support strategic projects in the country.
He said on Tuesday: the goldfinch banking system in Iraq dissipated and does not have an active role in contributing to the investment process, despite having big money but disabled and lacks a big contributor Bank with high capital helps finance large investment projects in the country.

He added: we must encourage small private banks to integrate and support the public sector in order to establish banks internationally and contributor to the development of the investment operations of the investment in the country accelerated exists in all countries of the world.

The banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between banks (7) and (30) Bank of my family including Islamic banks (7) in addition to (6) foreign banks.

Although the investment law No. (13) of 2006 investment in the banking sector were excluded from its provisions, however, investment in the banking sector takes its legal framework based on the legal Central Bank no. 5 (56) of 2004, banks (94) for 2004, the minimum to establish a bank in Iraq (100) billion Iraqi dinars, around 85 million dollars

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