Banker: the need to restructure the banking sector through laws and regulation by the Central Bank
2012-08-28 06: 38: 22 Tuesday
Baghdad (News) : Banking expert called on the optimizer to restructure the banking sector through controls and laws by the Central Bank of Iraq banks to apply because some banks operate without controls affecting economic activity, lost the confidence of the public.
Ali (News Agency news): Although private banks operating new mechanism imposed by the Central Bank but still prevailed in their routines, some of which face considerable difficulties in the work because it works without legal controls, noting the existence of banks announced bankruptcy which affected the economic activity and had lost public confidence.
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He added: on the Central Bank to develop new controls on banks and force them to apply them to organize their work and sanctions against banks to large fines in order to organize its work.
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.