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The central bank plans to expand the application of electronic trading
The central bank plans to expand the application of electronic trading
Parliament plans to enact a law to guarantee bank deposits
Author: HH, MK
Editor: BK, HH
19.10.2016 10:21
Number of Views: 513
Editor: BK, HH
19.10.2016 10:21
Number of Views: 513
Long-Presse / Baghdad
Finance Committee in the House of Representatives unveiled on Wednesday its intention to legislation of a special law to guarantee depositors' money in Iraqi banks, while confirming that it will contribute to "boost confidence in the banking sector."
Said Finance Committee member Jabbar al-Abadi, said in an interview to the (long-Presse), "The Committee was planning to prepare a draft law to guarantee bank deposits, but the government has agreed with the central bank to develop a system depends new styles to re certain percentage of depositors' money in the event of a loss banks ".
He said al-Abadi, a deputy from the coalition of state law, that "the government issued rules in agreement with the Central Bank of Iraq," adding that "the parliamentary finance committee working to enact a law to guarantee bank deposits to shore up confidence in the banking system."
The central bank announced in (the seventh of June 2016), for approval of the Cabinet set up a company to guarantee deposits in the government and private banks with a capital of 100 billion dinars, while the company aims to stimulate citizens to deposit their money in banks rather than Aktnazha, confirmed money chunky citizens outside banks of more than $ 30 trillion dinars.
It is noteworthy that the Iraqi private banks association, announced (October 2015) that the ratio of deposits to the government banks, ranging from 65 to 68 trillion dinars, of which no more than 22 trillion and deposits of private banks.
Many of the depositors of banks own, have demonstrated in front of the central bank recently for demanding their money regardless beyond many of those banks refrain, including investment, the Warka and the north, about it.
The banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between the seven state-owned and 23 private businesses, including Islamic nine in addition to the 15 branches of foreign banks.
[You must be registered and logged in to see this link.]
Finance Committee in the House of Representatives unveiled on Wednesday its intention to legislation of a special law to guarantee depositors' money in Iraqi banks, while confirming that it will contribute to "boost confidence in the banking sector."
Said Finance Committee member Jabbar al-Abadi, said in an interview to the (long-Presse), "The Committee was planning to prepare a draft law to guarantee bank deposits, but the government has agreed with the central bank to develop a system depends new styles to re certain percentage of depositors' money in the event of a loss banks ".
He said al-Abadi, a deputy from the coalition of state law, that "the government issued rules in agreement with the Central Bank of Iraq," adding that "the parliamentary finance committee working to enact a law to guarantee bank deposits to shore up confidence in the banking system."
The central bank announced in (the seventh of June 2016), for approval of the Cabinet set up a company to guarantee deposits in the government and private banks with a capital of 100 billion dinars, while the company aims to stimulate citizens to deposit their money in banks rather than Aktnazha, confirmed money chunky citizens outside banks of more than $ 30 trillion dinars.
It is noteworthy that the Iraqi private banks association, announced (October 2015) that the ratio of deposits to the government banks, ranging from 65 to 68 trillion dinars, of which no more than 22 trillion and deposits of private banks.
Many of the depositors of banks own, have demonstrated in front of the central bank recently for demanding their money regardless beyond many of those banks refrain, including investment, the Warka and the north, about it.
The banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between the seven state-owned and 23 private businesses, including Islamic nine in addition to the 15 branches of foreign banks.
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