Expert: The Central Bank Is An Obstacle To Sudanese Economic Directives
Economy | 04/13/2024 Mawazine News – Baghdad The economic expert, Mustafa Akram Hantoush, confirmed today, Wednesday, that the Central Bank of Iraq is an obstacle due to its delay in implementing the economic directives of Prime Minister Muhammad Shiaa Al-Sudani.
Hantoush told Mawazine News, “The Central Bank is standing in the way due to its delay in implementing the Prime Minister’s directives to launch the initiative for loans for small, medium and large projects, as well as residential ones.”
He added, "The current central bank policy will contribute to delaying the wheel of development by leaving the national banking sector and allowing foreign banks to enter the Iraqi market."
He pointed out that "Iraqi law sets the percentage of foreign ownership at 49%, while today we see many banks owned by foreigners at rates of more than 50%, which is against the law."
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