Give banks the freedom to determine interest rate loans would hurt the national economy
Vice Chairman of Finance Committee: Give banks the freedom to determine interest rate loans would hurt the national economy
Date: Thursday, 21.06.2012 9:04
Baghdad (news) .. Criticized the Vice-President of the Finance Committee MP / Kurdish coalition blocs / Ahmed Hassan Faizullah, the decision to grant Iraqi banks free to determine the interest rate for deposits and loans because it would harm the public interest by making the national economy is regular.
said Faizullah (of the Agency news) is not permissible The Central Bank may give complete freedom to banks Iraqi government and for determining the interest rate financial loans or Modat, they will strive and will use by some banks at the expense of the citizen. He pointed to: that most of the world interest rate financial determined by the central bank to all banks so that the process organization, calling on the central bank to back down from his decision to make the control of the banks in his hand for the benefit of the Iraqi economy. He added that the interest rate should be based on the economic situation in the country as well as on the type of loan is given and the possibility to take advantage of it and are set by the central bank to make the economy a regular basis. The central bank decided to Iraqi banks give two branches of government and private sectors the freedom to determine the interest rate payable on loans and advances given, as well as on savings deposited in banks. / Finished / 8. d. Q /