The Parliamentary Economic Committee issued a statement that the Central Bank of Iraq has planned to allocate billions of dollars in order to activate private banking sector in the country. The CBI has allocated five billion dollars for small and medium enterprises banking sector. Most of the economists said that it is according to Iraqi government’s plan to activate the private banking sector to meet the economic challenges. The Chairman of the Parliamentary Economic Committee Jawad Al Bolani issued a statement in an interview that the Iraqi Central Bank has dedicated billions of dollars in order to activate the Iraqi private banking sector to get a significant amount of revenue.
Jawad Al Bolani further added that the Iraqi Central Bank has dedicated five billion dollars for private banks and other sectors including Agriculture, Housing, Industrial and Real Estate. The Iraqi government emphasizing a great support to the Iraqi Private Sector, and in the development and success of national industries to improve the Iraqi economy. The Chairman of the Iraqi Parliamentary Economic and Investment Committee said that the commission would monitor the expenditures of these funds and ensure perfect way of employment and to avoid the unnecessary wastage.