August 20 2011
Baghdad people:Finance Ministry plans to restructure State-owned banks in coordination with the World Bank to promote a global level in the field of banking.
A spokesman for the Ministry of Finance increased Zamel’s (people) that “the Ministry of Finance will bring the structure of government banks in coordination with the World Bank to advance it towards the global level and in particular the Rafidain and rational.”
He added that “the ministry will open from within the Rafidain and good windows of Islamic law in order to find a radical solution to the crises facing the country’s economic restructuring projects within the banks.
He noted that “the ministry lifted the final accounts to the Department of Financial Accounts in the Ministry for the resolution of the file to be submitted to the Council of Representatives.” And the World Bank allocated $ 10 million for the restructuring of government banks and activate its dealings electronic. And announced earlier in the unity of the restructuring of Iraqi banks that have been extension of unit banks for a period of one year because of security concerns.
Iraq had decided in early 2006 and the restructuring of banks in order to get rid of the heavy debt.
The Ministry of Finance of Iraq over the next year quest to develop an integrated plan to develop e-government banks and financial relations in the activation of this aspect.
The Iraqi government is still limited in its financial transactions on the banks approved by the government by 85%.
And called on the Ministry of Finance earlier in the Iraqi Central Bank to take firm action in granting licenses for the establishment of private banks.