Committee excludes the development of the banking system when modifying the current banking law

Member of the Finance Committee excludes the development of the banking system when modifying the current banking law

30-11-2013 07:05 AM

Committee excludes the development of the banking system when modifying the current banking law Baghdad (news) .. Ruled out a member of the Finance Committee MP / coalition in Iraq / Hassan al-Bayati, the development of the banking system in the country when modifying the Banking Act current, calling for new legislation keep pace with the evolution in global banks. Bayati said (of the Agency news): The Banking Act current proceeded at the time of the ruling U.S. civil administrator Paul Bremer in 2004 to Aisthml amendment being launched in a matter different from the current situation any decade ago. added: should new legislation for banks keep pace with developments in the work of banks in the world and encourage local banks to develop their work through the use of devices and systems the most sophisticated, well that encourages investment in the banking field. confirmed: that the amendment of the current law will be the Ivy purpose and will not lead to the development of the banking system in the country. mentions that the banking system in Iraq consists of forty-three banks, as well as the Central Bank and distributed by the Royal between (7) state banks and 30 bank my family, including (7) Islamic banks in addition to (6) of foreign banks. spite of the Investment Law No. 13 of 2006 has excluded investment in the banking sector of its provisions except that the investment in the banking sector takes its legal framework on the basis of legal central bank No. 56 of 2004, banking No. 94 of 2004, and has a minimum to establish a bank in Iraq’s 100 billion Iraqi dinars (ie, up to 85 million dollars (. / End

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