********** Affairs Committee Alatqasidih take a number of supporting the banking sector decisions

By Adminsa 05.02.2015 1:38

Brother - Baghdad

Committee on Economic Affairs held its third meeting under the chairmanship of D.roژ Nuri Shaways Chairman of the Economic Committee and attended by ministers (finance, oil, planning, commerce, industry, minerals and agriculture) and the Governor of the Central Bank of Iraq and President of the National Authority for Investment and Economic Adviser to the Prime Minister and the Deputy Secretary General of the Council of Ministers and the President Legal Department of the Prime Minister's Office.

Statement of the Commission received for News Agency (et), a copy of which explained taken many supporting the private banking sector decisions being the main gate to the development of the Iraqi private sector, including the following:



1. The Ministry of Finance to compel government departments to accept all certified instruments issued by private banks.

2. The Ministry of Finance in coordination with the Central Bank of Iraq and the Association of private banks in Iraq to put controls and mechanisms are clear and specific to deposit the salaries of employees and retirees in private banks and including



3. The Central Bank of Iraq and the government to study the possibility of banks lending to private banks to finance small and medium enterprises because of their importance to the revitalization of the Iraqi private sector.

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

5. emphasis on activating the role of the financial court as stipulated by the banks and in accordance with the law of the Law of the Central Bank of Iraq and not to resort to other courts.

6. The Central Bank of Iraq to study the possibility to benefit from the legal reserve for private banks to grant investment loans from the reserve and Bahrafh.



7. emphasis on the Ministry of Finance and the Central Bank of Iraq to apply to the Committee on Economic Affairs Resolution No. S.l / 495 on 18.11.2014 regarding the opening of letters of credit to the private banks up to 10 million dollars (ten million dollars) without passing the Iraqi Trade Bank.

8. do all of the Rafidain and Rasheed deposit part of their money to the private banks in exchange for soft benefits that you own private banks to invest those funds in investment projects in accordance with the economic feasibility and according to specific mechanisms and guarantees of studies.



9. The Central Bank of Iraq to submit a draft deposit guarantee the necessary speed.



10.kiem the Ministry of Finance and the Central Bank of Iraq and the Iraqi Trade Bank launched amounts of credit according to the contexts globally applicable and not suspended or delayed when the support you received the items.



11. urged own private banks to create partnerships with international banks for the purpose of strengthening the developmental role of the country and create investment opportunities and operation of labor.



12. Intensify efforts by private banks on civil educate citizens to deposit their money in banks instead of keeping them indoors and strengthen trust between citizens and banks.



Economic Commission also emphasizes the support of the independence of the central bank and to avoid prejudice to the Bank for its endeavors in order to achieve its objectives and carry out its tasks, and support for new instructions issued him to achieve better control and transparency


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