the importance of the formation of a supreme body to regulate and control the work of the country’s banks
a member of the Finance Committee suggested MP Hassan Auzmn Bayati, the establishment of an independent supreme body shall organize and control the work of local banks two branches of public and private, to support and develop their work.
Bayati said in a press statement that “The Central Bank of Iraq bears the burden of a large work by maintaining the stability of the national currency and sell foreign currency in the auction and the control of the local market, as well as the regulation and control of the banking sector.
He added that “the banking sector large and has been important in the promotion and development of development in all countries of the world, they must take care of it through the formation of a special body care work under the name of” a supreme body to regulate and monitor the work of banks, “as is the case in most developed countries and civilized.
He explained that “the work includes issuing regulations, instructions and monitoring of banking operations and financial transfers within and outside the country to be able to develop the Iraqi banking sector and bring it up to date with developments in the world in the field of banks”