A new law allows the government to banks to raise their capital to 750 billion Iraqi dinars
04.13.2016 17:17
Long-Presse \ Baghdad

CBI revealed, Wednesday, for the preparation of a draft law "public banks," which will be organized government banks work, and promised to block "a key in the Iraqi banking system, while stressing the Speaker of Parliament adviser" support of the parliamentary finance committee of the Law, said that the most prominent of its paragraphs are increasing banks' capital to 750 billion Iraqi dinars, and the distribution of 40% of the profits on the staff.

He said the Iraqi Central Bank adviser Walid Abdel Nabi said in an interview to the (long-Presse) on the sidelines of a seminar at the Babylon Hotel in central Baghdad to discuss blackish General Banking Act, "The Bank is currently discussing with the relevant parliamentary committees, the draft General Banking Act, which aims to develop the sector banking government because it is an essential building block in the Iraqi banking system. "

He said Abdul Nabi, the "State-owned banks provide 95% of banking services and also has almost 90% of total deposits and 8% of the total bank branches in the country," noting that "the law will be discussed in the House of Representatives has made it clear at a seminar today strengths and listened to the views of the two communities." .

Abdel Nabi said that "among other things came from new issues in the law is to increase government banks' capital to 750 billion Iraqi dinars, and change the board of directors variety and method of distribution of profits."

For its part, the President of the House of Representatives Financial Affairs Adviser Alaa al-Sadoun said in an interview with (long-Presse) that "the draft law will be submitted to a vote in the House and the Finance Committee will support and vote on it sees as encouraging to work."
Al-Saadoun added that "the most prominent paragraphs present in this law is to put capital of 750 billion Iraqi dinars for Sarv and is distributed 40% of the profits on the staff," indicating that "this law if they were working on it, it will encourage employees to strive and work well to provide the biggest of his bank service. "

In turn, executive director of the Association of Iraqi private banks Ali Tariq vacationer said in an interview with (long-Presse), "The day witnessed a dialogue between the private banking sector representatives and legislative authority of the President of the Finance Committee Faleh sari and a representative of the Central Bank to discuss the government Banking Act," noting that " this session is important because the voice of the private sector up to legislators and to direct the banking sector. "

We vacationer "We also support the banking sector in Iraq with all its formations, but our ambition that there should be a greater role for the private sector."