Government decided to increase the capital of banks and industrial real estate

Government decided to increase the capital of banks and industrial real estate


May 5, 2014

Baghdad / Handout

Cabinet has decided to increase the capital of banks and the real estate industry to 500 billion dinars for each bank for the years 2014 to 2015, said a statement of the Council: "The Council of Ministers decided a hearing held yesterday, Prime Minister Nuri al-Maliki 
Agree to increase the capital of the Land Bank of the amount of / 150 / billion dinars to / 500 / billion dinars, of which only / / 250 billion dinars for 2014 and $ 250 billion dinars for the year 2015, and to increase the capital of the Industrial Bank of the amount of / 175 / billion dinars to amount / 500 / billion dinars, of which / / 250 billion for the year 2014 and / 250 / billion for the year 2015 and is funded by the amount of the increase over the search of the public treasury within the allocations of the federal budget for the financial year 2014 /, based on the provisions of Article (10) of Companies Act No. 22 of 1997 as amended.

He added: "The Council also approved the establishment of the Ministry of Planning to issue instructions and implementation of government contracts audited by the State Council, according to the provisions of paragraph (1) of section (14) of CPA Order dissolved No. (87) for the year 2004, taking into consideration the opinion of the General Secretariat of the Council of Ministers and taking into account the remarks of the Minister of Construction and Housing.

Dinars, of which / / 250 billion for the year 2014 and / 250 / billion for the year 2015 and is funded by the amount of the increase over the search of the public treasury within the allocations of the federal budget for the financial year 2014 /, based on the provisions of Article (10) of the Companies Law No. ( 22) of 1997 as amended. He added: "The Council also approved the establishment of the Ministry of Planning to issue instructions and implementation of government contracts audited by the State Council, according to the provisions of paragraph (1) of section (14) of CPA Order dissolved No. (87) for the year 2004, taking into consideration the opinion of the General Secretariat of the Council of Ministers and taking into account the remarks of the Minister of Construction and Housing.

Of 1997 as amended. He added: "The Council also approved the establishment of the Ministry of Planning to issue instructions and implementation of government contracts audited by the State Council, according to the provisions of paragraph (1) of section (14) of CPA Order dissolved No. (87) for the year 2004, taking into consideration the opinion of the General Secretariat of the Council of Ministers and taking into account the remarks of the Minister of Construction and Housing.

Taking into consideration the opinion of the General Secretariat of the Council of Ministers and taking into account the remarks of the Minister of Construction and Housing. 
The statement said: "The Cabinet authorized the Ministry of Electricity to contract and the opening credits for projects installed in the budget of 2014, the Ministry of Finance and the Commercial Bank of Iraq's implementation of it.

He continued: "The council also agreed to grant the institution of the National University of Science and Technology civil licenses to establish, according to the provisions of Article (5 / first item) of the Act, universities and colleges (13) of 1996, as amended.

The statement noted that: "The Council also agreed to authorize the Minister of Human Rights the power to exchange financial reward on the implementation of the project to build a monument bride in Dujail area beaches Kazimiyah / Altajiat South.

He continued: "The council agreed to amend the Council of Ministers Resolution No. (36) for the year 2014, according to the letter of the media and communications with a number: 3192 dated 16/04/2014.

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