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State-owned banks Law
4/17/2016 0:00
[rtl]Draft government banks Law presented for discussion at a symposium chaired by head of the parliamentary finance committee in the presence of the central bank adviser and one of the general managers to a government bank and vice president of the Iraqi private banks , the Commonwealth of the host of the symposium.
We listened to a detailed explanation about the law and its goals and its obligations and the reasons for the legislation, but the current law in force to Aeetmahy with phase change and transition to a market economy must be adapted to meet the requirements of economic reform intended.
Well it 's unfortunate step on the right way to discuss and enrich the draft , with high transparency , especially by the owners of the jurisdiction and the concerned authorities in dealing with the banking sector to neutralize the strengths and weaknesses in it.
but Remarkably , in this symposium absence of stakeholders and interest where there is , as there was no representative from the Ministry of Finance which is the sectoral supervisor of the State - owned banks and two bank directors with the exception of one of them, so that the notes , which listed will not face the opinions of stakeholders, time isrunning out and we desperately need to put economic reform requirements, only participation was by private banks and this registers them as the stage requires partnership, is not it?
We have to ensure the new law paragraphs worthwhile may contribute to the revitalization of the banks , especially those relating to the separation of the presidency of the board of Directors for public administrations and not allowed to combine positions and there are other passages that can be positive in stimulating the performance ofbanks and the
government.
but are these advantages sufficient to enable the government banking sector and qualifying to perform his role required?
then where site requirements of the transition to a market economy in the folds of the law?
we believe there is a real need to reconsider this draft , where he proceeded to write more than 6 years and now are other Atostagib to the requirements of the financial and economic reform , which is the main qualification requirements and then after restructuring and privatization Will be revisited in this draft , or it w[/rtl]
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