Cabinet illustrates guarantee bank deposits, which was approved last month system

Wed, 13 Jul 2016 09:41:49

General Secretariat of the Council of Ministers made it clear guarantee bank deposits, which was approved by the Cabinet last month system.

A statement by the Secretariat that "the Council of Ministers decided in its meeting held on the seventh of June, system No. 3 of version 2016 guarantee of bank deposits, which Dqgah the State Council system, according to the provisions of subsection (iii) of Article 80 of the Constitution, and (b ) (2) of Article IV of the Iraqi Central Bank Law No. 56 of 2004 ".

He explained, "The regime refers in Article I (CBI may grant leave to exercise guarantee bank deposits to a joint stock company established under the provisions of the Companies Act No. 21 of 199).

He pointed to the Cabinet Secretariat, that "the text of the rules in Article XVI the last to be implemented this system from the date of its publication in the Official Gazette."

The Council of Ministers has approved in its meeting on the seventh of last June to issue guarantees on bank deposits in the system provided by the Central Bank of Iraq and Dqgah the State Council with the failure to extend the government deposits in state banks to the rules.