Finance: Dollar crisis be resolved through the amendment of the Central Bank Law
Parliamentary Finance: Dollar crisis be resolved through the amendment of the Central Bank Law
Monday 04 May 2015
Qurtas News / Baghdad
Announced the parliamentary finance committee member Majda al-Tamimi, Monday, that the solution to the dollar crisis is not until after the amendment of the Central Bank Law.
He said al-Tamimi told the “Qurtas News” that “the crisis relating to the market, especially with the rise of the dollar against the dinar as well as financial liquidity, can not be controlled, but to amend the Central Bank of Iraq Law No. 94 of 2004 and in harmony with the stage Wares of the country” .
It added that “the Committee supports the central bank to amend the new law, which is now in the Council of State and we are waiting send it to us for discussion and reading in the House of Representatives.”
She pointed out that “the adoption of the amendment to the Law of the Central Bank will make him independent of the government in his administration,” indicating that “the economic problems began Ttrutb result of a law conflicts with a lot of economic and financial aspects that have been developed in Iraq.”
It is noteworthy that the Iraqi banking system Atkn of 54 banks, including seven state banks Islamist, one of them newly established, as well as 23 commercial banks special distributed by nine Islamic banks, and there are also 15 branches of foreign banks, and there are many institutions that do some banking business, including 34 money transfer and nearly 200 belonging to the banks foreign exchange company or dealing with banks with loan guarantee company and to finance small and medium enterprises with two companies for services of electronic banking and smart card company, in addition to nearly 800 branch subsidiary banks and distributed all over the governorates of Iraq.