THE IRAQI LEGISLATIONS REGULATING THE GRANTING OF CREDIT FACILITIES

No one can deny the vital and pivotal role played by the banking sector in supporting and developing the macroeconomy across various industrial, agricultural, and service sectors. Economic activity in any country operates within two spheres: the first is the sphere of real, tangible activity, i.e., production, and the second is the sphere of monetary flows necessary to finance productive activity. Banks act as intermediaries between these two spheres of economic activity by providing credit facilities. Banks accept savings in the form of deposits with varying terms and diverse saving instruments, then allocate a portion of these savings to various investments, while a significant portion is issued to clients as credit facilities and loans that benefit numerous sectors.