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Absence of a new law is the most prominent obstacle toward development of private banks

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rocky
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Absence of a new law is the most prominent obstacle toward development of private banks

Post by rocky on Sun 10 Mar 2013, 3:17 pm

Absence of a new law is the most prominent obstacle toward development of private banks



10/03/2013 13:29:00

BAGHDAD / NINA / The economic expert, Salam Smeisim said, “What is hindering the advancing of the private banks in Iraq is the absence of a new law regulating their work.”

She added in a statement to the National Iraqi News Agency / NINA / today 10, March that “The Iraqi private banks are restricted by ancient laws and regulations, which prevent them from exercising their banking process because these laws prove the central control over the economy, while the current time requires openness and dealing with the economy market system.”

She noted, “The strategic work of the Convention, signed between Iraq and the United States, regarding the financial aspect is subject to government’s instructions to the competent authorities to implement them.”

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