Friday, February 24, 2012

Mahma MP Khalil: the banking sector fails to cause the reluctance of investors to enter Iraq

Friday 02/24/2012

Baghdad (news) .. Download a member of the Economic Commission for MP / Kurdistan Alliance / Mahma Khalil banking sector caused by the reluctance of foreign investors to enter Iraq for the purpose of investment, as it still works according to the old laws and impeding the investment process.
Khalil said in a statement to the Agency (news) Friday: The banking sector of Iraq is one of the sectors underdeveloped in the region because it is still working systems of ancient non-sophisticated technology and has a staff administrative impede the investment process through the procedures of routine complexity, what led to the reluctance of foreign investors from entering Iraqi territory to for investment.
He added: There are many obstacles that stand in front of the investment process in the country including the failure to pass laws appropriate to invest and not to provide "logistics investment map", in addition to vital facilities of her, calling: to provide all the requirements of the investment process for the purpose of promoting the country's economy.
Deputy Khalil pointed to: that the Iraqi financial sector, which includes banks and stock market gave him a historic opportunity was not exploited in order to develop themselves at the opening of Iraq after the change around the world by not adapting to the banking and financial developments occurring in the world.
The World Bank adopted a development of the banking sector of Iraq through the formation of a committee by specialists and economists under the chairmanship of economist Majid picture for the purpose of restoring and rehabilitation of the Rafidain and Rasheed, and bring them into line with the evolution of the global banking modern. / Finished / 8. N. R /

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