The Central Bank is likely near the enactment of bank deposits and confirms: revive national economy

(Voice of Iraq) Baghdad revealed a source at the Central Bank of Iraq, said Wednesday, "near the adoption of" Parliament of the law on bank deposits, is expected to contribute to it by "confidence" to Iraqi banks and reviving the national economy.

The source said, speaking to the (term), "Central Bank of Iraq had already prepared a draft law on bank deposits a year ago, to protect a deposit every customer puts his money in the Bank", noting that "the project passed through the Cabinet to the Parliament".

The source said the insider, who asked not to be named, said "the project had been discussed thoroughly with members of the parliamentary Finance Committee, representatives of the Central Bank of Iraq, and went to the final legislative stages after adding points will support citizens", stating that "the parliamentary Finance Committee the Central Bank promised to put the project on the agenda of the meetings of the Chamber of Deputies during the current month, to be debated and voted on".

The source confirmed that the proposed project will encourage citizens and venture capitalists on deposit in banks after recognising her crisis protection from loss, what will revive economic activity ", returned to" Bill restores some confidence to the Iraqi private banks ".

Financial experts and economists, (18 September 2014 last), the volume of deposits held by banks in Iraq, whether governmental or eligibility report 70 trillion dinars, indicating that the total Iraqi banks capital rose from $ 30 million in 2004 to $ 1 billion and 600 million the end of 2014, except its Arabic and foreign bank branches operating in Iraq, and the number of private banks in Iraq rose from 17 in 2004 to 31 the end of 2014, with the number of branches has increased in Baghdad and other governorates from 100 to more than 600 branch to compete in number and level of services, branches of the Rafidain Bank and Rasheed.