Association of private banks held a joint workshop with the parliamentary finance committee to discuss a draft banking law

Last updated 13/04/2016 - 17:40 Views 51

Economy News / special / Baghdad .....

It examined the association of Iraqi private banks in a joint workshop with an extensive parliamentary Finance Committee Project State - owned banks Law

The head of the Finance Committee in parliament Faleh in force during the workshop which was attended by general director of the bank Industrial Kazem fistula and adviser to the central bank and Idi Walid and representatives from the private banks , the importance of government Banking Act , which was prepared by a number of advisors and concerned banking work.

He also noted the importance of holding the workshop organized by the Association of private banks To diagnose the kinks in the law and listen to the opinions and proposals put forward by the private banking sector being the closest to the work of direct relevance and with citizens

He explained the importance of leaving the force space is sufficient for the private sector to exercise its role in the development of the Iraqi economy , noting that the public sector accounted for 90% of the overall Iraqi economic activity

For his part , praised the Iraqi Central Mstcharalpennek Walid Idi Convention signed between the Central Bank and Ministry of Finance to restructure State - owned banks , noting that it did not Tralnuraly far , although submitted to the Council of Ministers and the House of Representatives in preparation for a special legislation into law.

Turning Director General of Industrial Bank Kazem fistula in his speech during the workshop to Date Rafidain and Rasheed, Noting that the capital Hrakther which is restricted, any sense that the tradition of working in private banking that existed focused on Tnimh profits and build financial capacity while the public policy of the state government banks represents, which reduced its activity because the government does not see the importance in raising capital considering it the last guarantor of all government obligations and thus led lower their capital.

For his part, Mscharrabotth Iraqi private banks , Sayyid Ali al - Husseini said there are several points must be put into consideration before approving the law of the State banks, including the State Bank is a mixed sector , which calls for opening the doors of underwriting its shares to the public.

Husseini put through several workshop questions about the position of the law of the Trade Bank of Iraq , which Iatbermn government banks, and whether he covered system restructuring, stressing the importance to have the private banking sector 's role in the nomination of the Council of State - owned banks and the departments of Finance Minister ICON Only authorized in the selection boards of exports of these banks.

The Chairman of the Parliamentary Finance Committee on these questions , stressing the possibility of not offering shares to the government banks Gmehurkonha / sink / and its capital, a state - owned.

For his part, Maderaltnive of the Association of Iraqi private banks Ali Tariq that the holding of this workshop to deepen dialogue and access to participants between the legislature and the private sector to adopt laws serve the Iraqi economy, taking Bnzeralaattabarassaobh economic conditions that prevailed in the country and the search for decisions that serve the private and public sectors.


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