Central Bank denies decode private banks association warns of intervention work

08/11/2015 19:09
Tomorrow Press / Baghdad: denied the Iraqi Central Bank, Tuesday, decoding its own banks association, warning of intervention work.

A source from inside the bank preferred not to be named for "tomorrow Press," that "the Central Bank's mission, according to law No. 56 of 2004 is to monitor the work of private banks and regulate monetary policy and financial of the country," pointing out that "the talk about disengagement those banks Bank It is incorrect and illegal. "

"The Central Bank is working to support private banks through the amendment of the Banking Act No. 94 as well as the issuance of instructions and mechanisms to enable private banks to operate freely and give the benefit of the audience of citizens and Mayhem this bank."

The source pointed out that "there are private banks are striving to achieve economic growth through projects and their platforms and the central bank supported and appreciates their efforts, in order to achieve a real banking environment is involved and supports the Iraqi economy in all its aspects".

He stressed that "what was raised about decoding confusion of private banks is not correct and illegal because it would violate the law of the Iraqi Central Bank, as well as those banks that are a real partner with the Central Bank to support the country's economy."

The source warned of "the consequences of interfering with the central bank because it is the party that protects the financial and monetary system in the country," pointing out that "the consequences of the intervention work loses its financial system to protect the country."

The number of deputies demanded the establishment of private banks and independent body and decrypt a link to banks by the Central Bank to ease the pressure on the central bank and make its work is limited to monetary policy in the country.