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.
He held a meeting at the headquarters of the Association of Private Banks attended by a delegation from the Central Bank headed by the Director of Financial Operations Mahmoud Dagher, in addition to the Chairman of the National Investment Sami Al-Araji, and a number of heads of private banking councils.
The head of financial operations at the Central Bank, Mahmoud Dagher, said that “private banks are facing 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.”
On the other hand, the head of the National Investment Sami Al-Araji said during the meeting, “The banking sector is required to contribute to the reconstruction of the liberated areas of gangs, calling the terrorist through the establishment of a development bank, including private banks,” noting that “all projects were in the hands of the state at the time Now we aspire to involve 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 are working to promote the medium and small projects launched by the Central Bank of Iraq with the participation of private banks operating in the country.”