New legislation to regulate the work of banks


9/10/2016 0:00

BAGHDAD / morning the
parliamentary finance committee intends tolaunch a number of special legislation toorganize the work of government banks
and private in the country.
He said a committee member, Jabbar al -Abadi, in a press statement, on Saturday, said that ” the Commission is determined to put forward legislation defining the banking business and dealing with credit Window and borrowing and other banking transactions, as well as allow the domestic banks and identify its mechanisms to prop up the government banks .”said al – Abadi, said that” the private banks is limited to work now on the windows sell the currency , which requires a serious reaction in this regard , “adding that” thebanking business in Iraq is inactive does not live up to the development in the world , “noting that” the coming days will witness the launch special new legislation tooperate banking and investment in Iraq. ”
according to observers of the banking sector is witnessing in Iraq marked decline through economic assurances to low cash reserves of the Central Bank of Iraq, as well as variation sell hard currency , prompting the House of Representatives and economic experts to demand the government to monitor Auction currency.

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