Expert: the free market make of the banking sector needs to be updated in all banking laws

BAGHDAD (Iba) .. Confirmed an economic expert Akram Abdel Aziz, Iraq’s economy shifted from a highly centralized economy to a free market economy has made the banking sector needs to be updated in all its banking laws to keep pace with global developments.

Said Abdul Aziz told the independent press (Iba) .. “The banking sector lacks the laws of modern play incident economic fact that all laws classic and need to be updated, are described: the conferences latest economic came plans supportive of the banking sector will promote incident practical economic.”

He added, “The Law of the Central Bank Act known regulates monetary policy and regulates aspects of banking in all its details, but needs to be updated, that the transformation of the Iraqi economy to a market economy and open up to the developed world needs to be supportive elements and new laws.”

She cross-Aziz, “The banking sector needs to support the concrete in the development of future prospects in all fields and electronic dealings to keep up with the global system and improve the Iraqi banking sector.”