February 17, 2021 | banking

An Economist: Banking Sector, Both Public And Private, Is Not Positive About The Economic Process In The Country


Baghdad / NINA /- Economic expert, Saleh Al-Hamashi confirmed that the banking sector, both public and private, was not positive about the economic process in the country.

He told the National Iraqi News Agency (NINA): The role of the banking sector in Iraq, both public and private, has not been positive towards the economy in the country despite the presence of more than 72 private and governmental banks.

Al-Hamashi attributed this to many reasons, the most important of which is corruption, quick profit, and the lack of a law to protect investors, so this sector resorted to safer investments such as the window for selling currency, short-term loans to employees, and the real estate sector in the housing field because of the safety and the great guarantees that preserve the capital.

He added: The government represented by the Ministry of Finance and the Central Bank is comfortable with this investment despite its lack of feasibility towards the Iraqi economy to solve the housing crisis.

ninanews

Top News



banking

An Economist: Banking Sector, Both Public And Private, Is Not Positive About The Economic Process In...
February 17, 2021
New Electronic Banking Service launched in Iraq
February 10, 2021
New electronic banking service seeks to move Iraq away from cash economy
February 8, 2021