Economic analyst: to raise the ceiling to the instruments of private banks (25) million dinars a good decision

Economic analyst: to raise the ceiling to the instruments of private banks (25) million dinars a good decision

Friday July 27, 2012

Agencies –
Praised the economic analyst Abdul Latif Salem Ugaili, the decision of the Economic Commission, which raise the ceiling of the instruments certified by the private banks to (25) million dinars, and promise to step to the success of the private banking sector.

He said Ugaili: The management of the private banking sector looks at the emergence of new to his support after the success of the Committee on Economic Affairs parliamentary decision on ratification of the increased ceiling of the instruments accepted and certified by the private banks to (25) million Iraqi dinars, after that they did not exceed the (5) million dinars, in addition to allowing them to deal with government departments and the general market joints.

He added: This step procedure successful at developing the work of private banks and support in order to enhance the confidence of customers the mechanics work and facilitate financial transactions, is also the result of the interaction of the Economic Commission with the various sectors of the country’s economic, as well as its understanding of the reality of the Iraqi market and the requirements of its development, after it was negligence looms the work of the sector of private banks operating in the country.

He explained: that this resolution constitutes a practical support to the banking sector in the country and ensure the transparency of contracts and provisions for short documentary based in a clear and accurate, which enhances confidence among private banks and citizens.

He called Ugaili: Economic Commission to provide support that is supportive of domestic banks by the Central Bank of Iraq and the adoption of important research legislation legal governing the work of private banks to direct its activities towards the process of economic and social development instead of “dwarfing” events, especially since the country needs to step up efforts for construction, reconstruction .
Source: alrayy