Cabinet decides to provide liquidity to banks eligibility
Cabinet decides to provide liquidity to banks eligibility
Thursday, March 19, 2015 18:05
BAGHDAD / Baghdadi News / .. revealed Committee on Economic Affairs in the Cabinet, on Thursday, the establishment of the Iraqi Central Bank and the Bank of Commerce to provide liquidity eligibility for banks in exchange for a mutually acceptable collateral, while denied the Trade Bank of Iraq to lend the Kurdistan Regional Government and the central bank in the region.
He said Deputy Prime Minister Ruz Nuri Shaways office, in a statement, I followed / Baghdadi News /, “The Committee on Economic Affairs met Bgelsthe eighth headed by Deputy Prime Minister Ruz Nuri Shaways and membership of the Minister of Finance and Minister of Oil and Minister of Planning and Minister of Trade and Minister of Industry and Minerals and the Deputy Governor of the Central Bank and the Chairman of the Committee Finance in the House of Representatives. ”
The statement added that “the Committee discussed the support of private banks subject because of its role in the re-development of the country in order to give it a wider area in the process of economic transformation and the trend toward a market economy and contribute to the process of increasing GDP ratio, through the support of private sector activity,” noting that “The Committee appreciated the role of the Central Bank of Iraq and the Iraqi Trade Bank in support of those banks and the fact that economic conditions faced by the country at the present time require to provide more support for these banks.”
He said, “The committee decided that the Central Bank and Bank of Iraq to trade to provide liquidity to banks and civil discreet that suffer from a lack of liquidity as a result of the faltering customers to repay debt owed to those banks in return for those banks to provide bank guarantees acceptable to the sides.”
The statement continued, “The committee also discussed banking policy pursued by the Trade Bank of Iraq, particularly the issue of lending to the Kurdistan Regional Government and the Central Bank of Iraq in the region, as the Commission found as banking operations professional and there is no loan granted by the bank to the two mentioned.”
He pointed out that “the Commission emphasized that the bank in light of the large financial potential, it is financing its activities continue all to enjoy its high confidence being the main financier of trade the government sector,” noting that “the Committee called on the state and the House of Representatives to take responsibility not to allow the promotion of rumors affect his reputation Financial and its place among global banks. ”
The statement noted that “the Commission called for the bank to send the accounts and financial statements audited to the relevant authorities in accordance with the principles of disclosure and transparency, the Deputy Prime Minister” .anthy 21 / m Office
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