Abd al-Hadi al-Hassani: to limit for banks to trade civil mo

Abd al-Hadi al-Hassani: to limit for banks to trade civil money for money weakens Kablyatea development
March 5, 2010 · Posted in NEWS
2010-03-05 11:14:27

BAGHDAD (Iba) .. A member of the Chamber of Deputies Abdel Hadi al-Hassani said the reality of the private banks in Iraq needs the support of foreign expertise and opening the way for investments in the sector. He pointed out that the need to limit the action to swap money for money weakens Kablyatea development.

He said al-Hassani told the independent press (Iba) said Friday that the main functions that must be characterized by the private banks is the possibility of financing investment projects is missing at the moment, despite the apparent expansion of the establishment of banks, both conventional or Islamic.

The Shahu to Nokia at the banks ability to do so, you must make Lebanon to the adoption of a particular partnership with the international banks that have better possibilities, provided that subject to constitutional and legal controls Indicating the absence of damage to the financial sector in the event of implementation of NEPAD.

The view that raising the contribution of foreigners in the Iraqi banks allow for more investment, a significant shift towards a market economy, which the State seeks to move toward it. . Refuted talk of being raised about the possibility of giving effect to the area of foreign capital on the national decision in the banking sector.

Hassani and stressed that Iraq was headed towards the expansion of cooperation between the public and private sectors in facilities of public utilities and infrastructure and this needs big capital and extensive experience in lending and risk management and finance.

He said al-Hassani said the lifting of the capital of private banks is a positive step, because it allows more room for these banks to grant loans large amounts of investment will cover an important strategy.