18-11-2013 10:34 AM
Baghdad (newsletter). Member of the Committee for economy and investment Deputy//Ibrahim Al-Rikabi, the importance of legislation to protect bank deposits to keep Iraq from smuggling and money manipulation. Rikabi said (News Agency): the law must go through several stages, starting with the Prime Minister to consultants, specialists and then to the economy on the House floor by specialists in monetary policy.
He added: the deposit protection act would preserve the deposits of citizens and Iraq's money from smuggling, adding that it will enhance the contribution of local banks to support economic development of the country.
And: the reason for the delay of this law and other laws is political bickering back personal interests that are recognized for their economic interests. And Iraq's banking system consists of forty-three banks as well as the Central Bank and distributed by property (7) and banks (30) Community Bank including (7) in addition to Islamic banks (6) foreign banks/finished/5 l. Eng. -