By John Lee.
A new report from the International Monetary Fund (IMF) has said that the restructuring of state-owned banks (SOBs) can foster the development of the private sector and improve growth. It adds:
"Strengthening the financial sector can support private sector credit, fostering investment and growth.
"To this end, the authorities are finalizing a reform strategy entailing a restructuring of the two largest SOBs. The improvement of the function of credit markets also requires the release the draft by-laws concerning SOB corporate governance, and establishing robust supervision, regulation, and governance under the CBI.
"Other measures include creating an Ownership Policy to clearly define the objectives and goals of government ownership in financial institutions and accelerating the implementation of modern Core Banking System solutions."
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(Source: IMF)
Oh yes - roll on the big dinar RV!