Private banks: we need a transition to international accounting standards
03, March 2016

Press information agency said Iraqi private banks Association, bitter melon, that need Wadih transition to international accounting standards, in particular with regard to the work of the General Commission for taxes, proposing the establishment of an information center that includes databases of all Iraqis to account receivables finance.

This came during a meeting in Baghdad to discuss the development of bilateral cooperation between Iraqi private banks Association and General Commission for taxes, strengthening the role of the private sector partner in economic development.

The two sides agreed to hold joint quarterly meetings every 3 months, to follow up the issues of bilateral cooperation, interspersed with round tables placed end next week.
With the talks touched on the need for fiscal consolidation and to find solutions to outstanding problems between the Federal Government and the Government of Kurdistan to prevent double taxation, and the adoption of a consolidated database between public authority llkmark and General Commission for taxes to avoid problems that can occur between the two sides.

Discussed concerns about the handling of cheques issued by banks, and confirmed the talks deal with banks approved by the Central Bank of Iraq exclusively according to the latest assessment by the camel system first banks as an initial phase.