Finance for parliamentary "Awan": the bankrupt banks are unable to repay deposits of citizens and ot

Finance for parliamentary "Awan": the bankrupt banks are unable to repay deposits of citizens and other loans to officials granted without collateral

BAGHDAD - Awan 07/22/13

 Revealed the Finance Committee representative, on Monday, the inability of banks civil "bankrupt" for repayment of deposits of citizens, accusing the Warka Bank to grant loans without collateral to officials gangs over the phone, as called for economic and investment commission Parliamentary need to modify some of the paragraphs of legal private banks and the central bank.

A member of the Finance Committee parliamentary Magda al-Tamimi told the "Awan" "The committee has received a lot of complaints by citizens unable to insolvent banks for repayment of their deposits", describing it as "dangerous", the point that he "loses the confidence of citizens in dealing with private banks Iraqi What a negative impact on the economy of the country. "

They pointed out that "there are banks, civil and the most prominent of the Warka Bank, granted loans by phone without collateral, particularly for officials gangs in the state," asserting that "the owners of these banks invest in another country, what Ajalam in front of a fraud case, due to weak supervision."

Revealed Tamimi "The committee plans to host D j t j private banks and the central bank governor next week, to discuss the law of private banks," adding that "the Commission has no intention to hold a conference or workshop for the purpose of issuing laws or to modify it."

 She pointed out that "the Finance Committee deliberated with the Governor of the Central Bank and the reality of private banks that suffer from problems," adding that "so practices and such a work environment that represent indicators bad and dangerous to the economic movement in the country, because the investor will lose confidence in dealing fiscal with our banks."

 In turn, called for the Committee on the economy and investment parliamentary agreement with the parliamentary Finance Committee, the need to modify some of the paragraphs of legal private banks and the central bank.

A member of the Committee MP Salman al-Musawi for "Awan", that "some legal clauses of private banks and the central bank, impede the functioning of the economic process in the country."

 He noted that "banks in the Iraq ranged conveniently, and we urgently need to support institutions for the development of the economic process, and this in turn needs to large banks and insurance companies."

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The Iraqi people not being able to get to thier funds dosen't sound very good.If I am reading this wrong,please help a guy out,thanks.