Member of the Finance Committee: the Central Bank because of the underdevelopment of the banking sector

Baghdad (newsletter). Download the Finance Committee member of iraqiya MP Hassan Al-aozmn Al-Bayati, the Central Bank is responsible for the failure of the domestic banking sector developments in global banks, lack of seriousness in the legislation for banks.

He said Al-Bayati (News Agency): the parliamentary Finance Committee has asked the Central Bank to set up new banks law differs from current law in terms of requiring local banks by using techniques and technological work, to be sent to the Cabinet and then to Parliament for enactment.

He added that the Central Bank was deliberately not drafted a new law on banks, thanks to the survival of the current law is not keeping pace with developments in the world’s banks, which in turn have a negative impact on the country’s economic development because they depend on the development of the banking sector and private sector support.

He noted that the Central Bank is going through problems on the one hand has no conservative but managed agency as well as most of his staff and advisers to detained for charges involving fraud and money laundering, all of which affected the work of the World Bank and the preparation of the new law on banks