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Start making amendments to the law on banks

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Hkp1
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Start making amendments to the law on banks

Post by Hkp1 on Tue 26 Feb 2013, 10:21 am

Start making amendments to the law on banks

26/02/13 08: 33

Baghdad/sourcing
Centre for the Iraqi media network (IMN) – started the parliamentary
Finance Committee on amendments to the Banking Act 2004, to strengthen
banking regulations and pressure from the Central Bank of Iraq.

Committee
member, said attorney Haitham al-Jabouri (IMN) to "Finance Committee
began to make amendments to the law on banks (94) in order to make it
more visible in investment interest in public-private banks", adding:
"we are trying to free up some State banks, Rafidain and Rasheed, from
the Ministry of finance to have financial autonomy".

"The
development of this law during the current period will positively affect
the economic system it will take control of the interest rate of the
investment banks," he said, adding that "the major part in the
development of the law depends on factors of security and stability and
bank financing in the country."

And Financial Committee that the
Parliamentary Committee was formed from the Rafidain and Rashid banks
and TBI, in addition to the parliamentary Economic Committee and the
ministries of finance and planning for the development of legislation in
support of the banking business in the country.

The CBI said
earlier his intention to transform the banks into large financial
institutions after obtaining government approval to amend Law 94 of
2004.



http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.imn.iq%2Fnews%2Fview.18656%2F

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