Economy News Baghdad:
The Iraqi Private Banks Association discussed with the Central Bank and the Chairman of the National Investment Authority Sami Araji the problems facing investors in Iraq and the ways of activating investment through the financing of banks for investment projects.
The meeting was held at the headquarters of the Association of Private Banks attended by a delegation from the Central Bank headed by the Director of Financial Operations, Dr. Mahmoud Dagher, Advisor Walid Idi, in addition to the Chairman of the National Investment Sami Al-Araji and a number of heads of private banks.
The head of financial operations at the Central Bank, Dr. Mahmoud Dagher, said that “private banks today face several obstacles in their work, including routine measures taken in the government departments and the fear of investors to work in Iraq because of events in the country.
For his part, the adviser to the Governor of the Central Bank, Walid Eide, said that “the Central Bank worked to stabilize the dollar exchange rate and the establishment of the Fund for SMEs and the mutual lending fund and activate its oversight role on private banks in accordance with the instructions of the bank countries.”
On the other hand, the head of the National Investment Sami Al-Araji during the meeting, which was attended by “Economy News”, “The banking sector is required to contribute to the reconstruction of the liberated areas of gangs and terrorist advocates through the establishment of a development bank includes private banks,” noting that “all projects Was the hand of the state at the time before and now we aspire to engage the private sector in the development process and create a strong Iraqi economy. ”
He added that “the Economic Committee of the Council of Ministers has taken several decisions to involve the private sector in the next five-year plan (2018-2022).”
And “we work to promote the medium and small projects launched by the Central Bank of Iraq with the participation of private banks operating in the country.”