*********************** The government is taking the decisions and recommendations in the development of the private sector banks.

Wednesday, December 28 2 / January 2015 15:34


[Baghdad-where]



Intergovernmental Economic Commission for Refugees private sector has taken a number of decisions and recommendations on banking business in Iraq.

According to a statement today received by all of Iraq [where] a copy of the "Committee held on Tuesday its second meeting under the chairmanship of Deputy Prime Minister example, has typically Nuri Shaways Committee discussed the paper submitted by the Association of Iraqi banks on the development of the private banking sector, as the Economic Commission first initiated in Work on the involvement of the private sector in industrial decision and opinion in economic matters through the involvement of a wide range of non-governmental organizations dealing with the affairs of the private sector in the Economic Commission for the private sector. "

Economic Commission for Refugees private sector and stressed "the importance of the banking sector as an artery, which passes through all the economic and financial events, and if I want any country to apply there must be a well-developed banking system."



The Committee discussed all the problems and obstacles and solutions facing the banking sector and recommended, including the following, according to a statement:

1. reconsider previous resolutions on non-deposit government funds with private banks according to the guidelines issued by the Ministry of Finance in order to restore confidence between the citizen and the banks own building.



2. Requiring the state departments to accept certified instruments issued by private banks and its receiving payments of taxes and government fees and restricted accounts stakeholders.

3.asamah depositing the salaries of employees and retirees in private banks to be controls the coordination between the Ministry of Finance and the Central Bank of Iraq and the Association of private banks in order to achieve guarantee depositors' rights mechanisms mode.



4. launch amounts of appropriations according to the contexts in force in the world and not suspended when Aotakherha support receipt.

5. demand from the central bank and the banks and government study the possibility of lending to private banks to finance small projects exclusively.

6. the Trade Bank of Iraq to open credit lines with private banks under the supervision of the Central Bank of Iraq.



7. activating the role of the financial court, as provided by the Banking Act and not to resort to other courts.

8. demand from the central bank to study the possibility to take advantage of the legal reserve for private banks to grant investment loans from the reserve and under the supervision of the Central Bank of Iraq.

The statement pointed out that the meeting was attended by "all of the ministers [financial, oil, trade and industry, minerals and Chairman of the National Investment Commission and the Governor of the Central Bank and Chairman of the Securities Commission and Economic Adviser to the Prime Minister and the Director General of the Legal Department of the Office of the Prime Minister and President of the Association of Iraqi banks and the head of Iraqi economists Association Managers two years in the Rafidain and Rasheed and the Iraqi Trade Bank [TBI] and a member of the Iraqi National Business and members of the Iraqi private banks Association Council ".



http://www.alliraqnews.com/2014-06-14-07-34-14/164976-2015-01-28-12-34-43.html