Economic plans to the parliamentary amendment to the Law on Trade Bank of Iraq

Economic plans to the parliamentary amendment to the Law on Trade Bank of Iraq
On: Wednesday 18/7/2012 1:48

Baghdad / term
member of the Committee announced that the economy and invest in the House of Representatives Nora Albjara for an amendment to the Law on Trade Bank of Iraq format that encourage investment in the country and try to sign him to the Ministry of Finance instead of the Council of Ministers. The Albjara according to the Agency (news): The Law of Trade Bank of Iraq has been enacted in the previous session of the House of Representatives in particular year (2009) and delayed approval to the current session, noting that the Commission intends to modify it before the parliamentary vote.




She added that the amendments will increase its capital from (50) million to (100) million dollars to be able to deposit its funds in the form of loans to investors, will help to boost investment by encouraging investors to come, confirming that the bank is now working without a legal formula governed. She noted that the Committee on the economy of parliamentary trying to include the bank to the Ministry of Finance instead of the Council of Ministers through the modification of the law for the purpose of auditing its accounts yearly in the ministry and be subject to the Audit Court, stressing the need for attention to this bank because it has high qualifications and experience of advanced country in dire need of such a bank .
noteworthy that the Trade Bank of Iraq entirely owned by the Iraqi government was established in July of 2003 to facilitate Iraq's international trade and the reconstruction of Iraq after the end of the work program of the UN oil-for-food program.





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