Economic Committee Member: CBI Law needs amended; Should be more supportive of financial sector

Baghdad (newsletter) … Economic Committee member MP called on the Iraqi/coalition/Qusay, to amend the current Central Bank, being not in line with developments in the world, particularly in the financial sector.

He said Juma (News News Agency): that the Central Bank was a lot of paragraphs that impede the work of the central banks of Iraq, needs to be amended because it not only helps to support financial sector development in the country.

He added: we must amend the Central Bank law (2004) formula helps banks on Bank duty to contribute to the economic development, calling for the use of the laws and regulations of global banks to strengthen the role of the financial and banking sectors in the country.

And the Central Bank of Iraq Act was passed on 6 March, 2004, among its objectives to maintain price stability and support the sustained growth of the national economy