News Source: Baghdad 2
BAGHDAD / WAP / Economic Commission member said Salman al-Moussawi, said Saturday that the restructuring of State-owned banks will work on the development of the banking reality in Iraq down to the global banking sector.
He said al-Moussawi told Baghdad International / WAP / that "the restructuring of State-owned banks will re-examine the Law of the Central Bank of Iraq, which contains items are disruptive to the work of banks for this reason we need to rethink this law."
He said, "It has been several meetings with the Governor of the Central Bank of Abdel Basset Turki as well as with the private banks and the government was reached as a result the need for a sweeping reforms of the banking sector to promote this fact, especially the existence of Article (28) in the central bank law, which works to prevent banks from doing any work helps the advancement of the banking reality, except for the provision of loans and advances. "
He pointed to the need to "reconsider this law through the committee formed to restructure the government and private banks, in order to give wide latitude for banks especially civil ones and that parallel foreign banks which will come to Iraq in the future."
He explained, "it was demanding a meeting Financial and Economic Committee النيابيتين with the governor of the central bank and banks scientist in Iraq (government and private) in order to develop a strategy to promote the reality banking in Iraq, and there must be cooperation between the central bank and the parliamentary committees concerned for the advancement of the Iraqi banking" . / End 2
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