Parliamentary Finance: intend to introduce new legislation regulating the work of banks

2016/10/8 12:00

[Where - Baghdad]

He said the parliamentary Finance Committee member Jabbar al-Abadi, on Saturday, the determination of the Commission put forward a private organization of work of government and private banks in Iraq legislation.

He said al-Abadi told all of Iraq [where] that "determined to put forward legislation defining the banking business and dealing with Window Committee [credit and borrowing and other banking transactions, as well as allow the domestic banks and identify its mechanisms to prop up the government banks."

"The private banks work only now on the windows sell the currency, which requires a serious stand on this matter," noting that "the banking business in Iraq is not active and rise of the development in the world," adding that "the coming days will witness the launch private new legislation banking work and investment in Iraq. "

According to observers witnessing the banking sector in Iraq marked decline through economic assurances for the decline in money to the Iraqi central reserve, as well as variation sell hard currency, prompting the House of Representatives and economic experts and Iraqi government demand to monitor auctions sell the currency on the one hand, and on the other hand, the introduction of hard currency into the country through activating the work of border crossings and inventory to deal with the difficult currency.

The investigation revealed judges specialize money laundering issues in the fifth of October this that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer.