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Ministry of Finance to restructure State-owned banks in coordination with the World Bank

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</td><td> Posted 20/08/2011 03:49 PM

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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.

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