Finance Committee planned to amend the Banking Act in the Iraqi banking sector support

Baghdad (News) … Member of the Finance Committee/National Alliance Deputy/Secretary of Hadi, the intention of the Committee to amend the Banking Act as support and development of the banking sector by adding new proposals and deleted some paragraphs that impede the work of Iraqi banks.

He said Hadi (News Agency news) on Friday: the parliamentary Finance Committee held a seminar discussion as a workshop for the restructuring of the banking sector in the presence of some managers of public and private Iraqi banks and head of the national investment Commission and a number of deputies in the financial and economic committees and experts and specialists and submitted their views and proposals on the possibility of the development of the banking sector and promote it.

He added: the workshop reached banks act as supporting the banking sector by adding proposals to increase stocks of State-owned banks (the Rafidain and Rashid and trade), and improving the infrastructure of the banks and encourage small banks to merge with banks with higher capital to become a major financial institution, confirming that this workshop will give positive results in the banking sector that the proposals submitted by specialists in the field of banking.

The parliamentary Finance Committee held last Wednesday in house workshop to promote the reality of Iraqi banks in terms of new legislation adapted to Development Bank in the world.