A high-level banking delegation discusses the reality of banking challenges
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Economy News Erbil
During a visit to the branch of the Central Bank of Iraq in the Kurdistan region, a high-level banking delegation discussed on Thursday the most important challenges that hinder banking performance and curtail its role in achieving development and supporting projects.
The delegation was headed by the President of the Association of Iraqi Private Banks Wadih al-Handal, the Chairman of the Board of Directors of the Bank of Erbil and a team of the Association of Banks in the region.
The delegation held upon arrival an important meeting with the Director General of the Central Bank in the region and the presence of the Central Bank of Iraq adviser and a number of senior officials.
The meeting decided to address the decision of the Tax Authority in the region, which ordered the closure of one of the branches of the Bank of Erbil in contravention of customs and laws under the pretext of non-payment of taxes the bank owed to the Commission.
In turn, the Chairman of the Board of Directors of Erbil Bank presented the evidentiary receipts for tax accounting.
The participants appealed to the Government of the Territory through the Minister of Finance to lift the injustice from the Bank of Erbil and to the detriment of the reputation of private banks.
The meeting stressed that the issue of settling the problem of double taxes has been resolved between the region and the Center and that the Banking Law requires coordination with the Central Bank before taking any action towards banks.