On: Friday 08/05/2011 13:33
Baghdad (news) .. criticized the economic expert, contrary goldsmith inability of Iraqi banks to attract investors, pointing to the existence of a clear failure to keep up banking operations in the modern world.
The jeweler (economist) said (to the Agency news) today: that the Iraqi banks are unable to attract foreign investors to work on the development of this sector to the lack of sufficient capital for the advancement, confirming the existence of backwardness and clearly in Iraqi banks to keep pace with progress in the world.
He added that the private banking sector in Iraq is restricted to laws and regulations of the Central Bank in the nature of the work of banks, in addition to government regulations, which provided not to deal with private banks, which led to obstruction of their work.
The expert called on to reform the economic structure of the banking sector and the public debt-laden loans that are distributed to citizens.
The Director-General of the Warka Bank Muhammad al-Samarrai was attributed not to open branches of foreign banks in Iraq and the lack of material and human resources and the lack of foreign banking relationships.
Samarrai said in an earlier statement (of the Agency news): You may not Iraqi banks to open foreign branches because of the lack of possibilities of the material and human relations, and offshore banking.
The Samurai: The theme of the opening of branches outside of Iraq is to be competitive purposes, so it must have the possibilities that are positioned to compete with international banks.
The Currency Newshound 