The Central Bank obliges the banks to meet with his consultant

23/08/2017 01:10 | Number of readings:

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The central bank on Wednesday ordered banks and remittance companies to meet with their consulting agencies for regulatory purposes.

The bank said in a statement, "Trend Press", that "in order to improve and achieve transparency in the work of Iraqi banks with the advisory bodies and in order to achieve the interest of the work, when the bank to contract with any consultant outside the bank to provide advisory services to him, the Central Bank is entitled to meet with this advisory body Whether before or after the end of the operation. "

He added that "the objective is organizational matters for the purposes of discussion and review and identify points to be highlighted and to see any priorities or reports requested by the bank," noting that "this comes in accordance with the provisions of Article 53 of the Law of Iraqi banks No. 94 of 2004.

The Central Bank of Iraq was established as an independent bank under its law of March 6, 2004, as an independent body. It is responsible for maintaining price stability and implementing monetary policy, including exchange rate policies and daily sessions for the sale and purchase of currencies.