Advisor to the Prime Minister: a plan to reform the banking system

Monday 08th June 2020 - 18:53

Advisor to the Prime Minister: a plan to reform the banking system

Baghdad - INA

 

 The financial advisor to the Prime Minister, Mudhar Muhammad Salih, revealed a plan to reform the country's banking system.

 Salih said to the Iraqi News Agency (INA) today, Monday, "There is a problem in the installation of the Iraqi banking system and the division of its market related to the dominance of government banks over 90% of the assets of the banking system, and that their number does not exceed seven government banks, while the private and ability banks are about  70 foreign banks and bank branches whose assets constitute only 10% of the assets of the banking system. "

 He added that "there is a strong reform plan to turn these banks into an effective force in moving the liquidity of the economy and directing it in a way that serves the Iraqi economy in moving investment opportunities."