"The banking sector in Iraq has taken several promising steps over the last few years to develop this sector and provide support for the establishment of private sector banks and about 70 private banks and other Islamic banks with 20 banks under establishment," Alaq said in a statement. In addition to legislating regulations and laws and implementing international standards and banking transactions that contribute to the development of this sector and other banking procedures, where it now operates according to the system of payments and the development of the application of governance in the management dealings.
For his part, al-Qasabi stressed the desire of Saudi businessmen and investors to enter into investment projects after providing the guarantees and banking facilities for them and to break the fear barrier in this regard because the Iraqi market is a promising market and attractive for investment, indicating the readiness of the Saudi side to support the Iraqi banking channels because the banking infrastructure is the key to Economic, trade and investment.
The Central Bank obligates banks to meet with the contracting authorities contracted for the purposes of regulation
The bank said in a statement received by "Economy News" a copy of it, "to improve and achieve transparency in the work of Iraqi banks with the advisory bodies and to achieve the interest of the work, when the bank to contract with any consultant outside the bank to provide advisory services to him, the Central Bank is entitled to meet with This external advisory body whether before or after the end of the process. "
He added that "the objective is organizational matters for the purposes of discussion and review and identify points to be highlighted and to see any priorities or reports requested by the bank," noting that "this comes in accordance with the provisions of Article 53 of the Law of Iraqi banks No. 94 of 2004.