Chalabi: Company mission is to maintain deposit guarantee funds

Chalabi: Company mission is to maintain deposit guarantee funds
 
 
         

9/10/2014 0:00 
BAGHDAD - the joy of pumice 
in line with the new phase taking place in the country and the application of the Government's program to support commercial banks government and private to represent one of the episodes of the financial system, urged the Association of Banks competent authorities to speed up the issuance of a draft law firm guarantee deposits and send it to the Parliament with a view to approval. 
banking expert Adnan Chalabi confirmed "morning" that the central bank ended the draft law on the company years ago and submitted to the Council of State, without the appearance of any result of acceptance or rejection. 
described Chalabi this company as "necessary" to guarantee deposits at private banks. 
they also exist in all states world, a summary of its work to guarantee deposits by certain percentages in the case of any risk or harm to her, whereupon the company pay ratios specific to the customer is encouraged to develop its deposits of money in banks was sure of the existence of the company guarantee deposits and this case is more like life insurance, real estate and others. 
added It guarantees deposits and savings accounts, fixed deposits and other, especially now that the deduction percentages participate in this company borne by the banks, as it ensures the client's deposit, calling for the formation of a committee of experts in the Ministry of Justice to speed up the implementation of banking laws, including the law firm guarantee deposits to contribute to the study extensive of these laws and to clarify the interest of them. 
noted Chalabi, the existence of a great desire by the private banks, urging the government to issue a draft law firm guarantee deposits and send it to parliament in order to vote and implementation by contexts used, leading to encourage the public to deposit in private banks, especially that the citizen in time present refrain from depositing their money with these banks for fear of lack of assurance of the damage, noting at the same time that the government banks enjoy this type of guarantee for the adoption of the Central Bank of her. 
should be noted that one of the paragraphs of the government program confirms that the commercial banks is one of the financial institutions are critical Lay economic activity and represents one of the episodes of the financial system of the country and a reflection of its by economic, commercial and financial. 
also is one of the gates to encourage investors and bring in capital, which can be realized through the organization and address the economic and trade affairs in coordination with various relevant sectors and activating government-owned banks and banks specialized and private sector banks ( civil), along with the development of foreign economic relations with the countries of the world to increase the volume of trade exchange and the development of relations with regional and international organizations concerned.
 

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