Finance Committee is preparing a special law for banks with participation of experts and international consultants

Posted: August 10, 2013 in Iraqi Dinar/Politics
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08-08-2013 08:19 AM
Baghdad (newsletter). Member of the Finance Committee, MP for the Kurdistan blocs Coalition//Jimmy, the intention of its special Act legislation for banks supports the Iraqi banking system with the participation of international experts and financial advisers.

He said capable (News Agency): the current banking law is supportive of banks permitted investment and technological techniques in modern banking, being a work in old non-innovative mechanisms and not keeping pace with developments in world banking.

He noted: there is a strong desire by the discreet global banks to enter the Iraqi environment and open branches in Iraq, especially after the departure of Iraq from Chapter VII, which was imposed by the United Nations, but they run several obstacles such as the Banking Act.

He added: the Finance Committee and with the participation of international advisers and financial experts are preparing a special law for banks supports the Iraqi banking system, developed by a series of seminars and workshops for a modern and advanced legal formula

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