Demand to amend Article 28 of the Banking Act

Posted: August 14, 2013 in Iraqi Dinar/Politics
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08/14/2013 12:00 AM

saw expert banker to the Banking Act, the current is not consistent with the nature of the current phase, said Muhannad Qassim al-Saadi »Sabah» that there are sockets on this law in terms of legal drafting pointing out that he did not use the expressions normal legal in Iraqi legislation.

he said legislation that worked out used legal language alternative imposed it linking Arab laws and the laws of Islamic noting that the Banking Act has not been used expressions legal convention in Iraqi legislation as well as the use of legal language alternative translated poorly missed a lot of meanings.

Said Saadi said the law used terms The labels are curious about Iraqi law where you do not know its meaning in addition to that this law does not meet the aspirations of the Iraqi banks because it is in the hands of banks, pointing out that Article 28 of the Banking Act, which preceded Article 27 identified the range of activities that is possible to exercise and did not remember all the activities, but part of it where barred Article 28 banks from exercising activities at the heart of a banking investment.

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