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Opinion Article: Absence of new law is the most prominent obstacles to develop the work of private b

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Opinion Article: Absence of new law is the most prominent obstacles to develop the work of private b

Post by Neno on Wed Mar 13, 2013 1:26 am

Opinion Article: Absence of new law is the most prominent obstacles to develop the work of private banks





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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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