التحديات التي تواجه القطاع المصرفي في العراق

Abstract EN

Iraqi banking sector suffers from structural and organizational problems and faces the challenges and risks of the market due to lack of stability of the investment environment, which led to lack of development as required and the weakness in its association with the global banking system.

The Iraqi banking sector for more than ten years and up to the present time practices stalled policies and mechanisms, despite the fact that the banking system includes 54 bank, including seven state banks one of which is a newly established , 23 private commercial bank , nine Islamic banks and 15 branches of foreign banks.

But it is the release of the Iraqi Central Bank Act of 2004 and the Banking Act No.

94 of 2004 , interest rate liberalization , the abolition of credit plans , open the door to foreign banks and the launch of the freedom of external financing in addition to the abolition of restrictions on the transfer except money washing .

After the 2003 Iraq inherited a dire banking system especially the lack of confidence in Iraqi banks, and the weakness of the role of banks in the economic and development activity.

Therefore , the banking reform is necessary, especially considering the organizational structure , the diagnosis of the financial, operational and regulatory problems and to issue appropriate regulations by the Central Bank to regulate the work of the government and private banks in addition to exercise control, with a review of related laws especially banking law with the consolidation of international relations Iraqi banks.