Rashid stresses importance of supporting and encouraging the private sector

INA-  Baghdad

President Abdul Latif Jamal Rashid stressed on Tuesday the importance of supporting and encouraging the private sector.

The Media Office of the Presidency of the Republic said in a statement received by the Iraqi News Agency (INA), that "President Abdul Latif Jamal Rashid received today at Baghdad Palace the delegation of the Iraqi Association of Islamic Banks Group," noting that "the President of the Republic congratulated at the beginning of the meeting the delegation on the establishment of the Association, wishing them success in performing their work.”

The President of the Republic stressed, according to the statement, "the need to develop banking systems and reduce red tape, in addition to facilitating banking procedures related to investment and the movement of capital," stressing "the importance of supporting and encouraging the private sector that deserves to recover in order to improve the standard of living of the citizen, and to support factories , traders and simple stakeholders."

For their part, the members of the delegation reviewed the work of the association in various governorates, stressing that it "depends on the Islamic approach, and that Islamic banks were suffering from the lack of a law of their own until 2015."

Members of the delegation stressed that they are "working to encourage citizens to deposit and deal with banks, and that the laws are attractive to the investor," noting that "civil banks are working to support the stability of the exchange rate of the dinar in the market."

They expressed hope for “amending the Government Debt Collection Act.”