************ Central rushing legislation Deposit Insurance Act and declares his coverage of the accounts in banks abroad in dollars

01/02/2015 16:10

Tomorrow Press / Baghdad: Iraqi Central Bank, announced Sunday, for his initiation legislation Deposit Insurance Act, and coverage of bank accounts abroad to the US dollar.

The bank said in a statement received "tomorrow Press," a copy of it, "in line with the central bank's tasks and responsibilities in supporting the development and stimulate the Iraqi economy, the Bank took a number of decisions, including speeding up the legislation of the Deposit Insurance Law, and approve the appointment of a representative of the private banks in the Central Bank's management ".

The statement added, "also included a decision to approve the establishment of the Central Bank to cover bank accounts abroad to the US dollar to cover imports of customers and for other purposes without the need to pass a window sell the currency in the Iraqi Central Bank and The Bank surveillance on those operations within a simplified and transparent mechanism to put the creation of capacities and capabilities Plan To activate documentary credits instead of the current style and coordination with the banks in this regard. "

"The decision came in the recommendation to the government to accept the state's institutions of instruments issued by private banks as well as the receipt of taxes and fees in favor of the government, and the formation of a committee to reconsider the structure of benefits, including expanding the provision of credit and liquidity."


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