Central Bank underlines its procedures on Iranian banks in Baghdad
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Central Bank underlines its procedures on Iranian banks in Baghdad
The time on Wednesday, 05 September / September 2012 13:55
Baghdad / Orr News
The central bank said that the United Nations and the Security Council a request from Iraq tighten its procedures to deal with Iranian banks operating in Iraq and take caution, he did not allow the presence of Iranian and foreign banks due to weak capacity Iranian central bank and pull Iraq back from the international crises.
He explained the central bank adviser appearance of Mohammed Saleh, said that the bank stressed procedures inspection and audit on Iranian banks working in Baghdad after receiving a request from the United Nations and the Security Council prudent and cautious of the two banks, noting that Iraq is obliged to fully instructions and sanctions imposed on Iran and its banks economic as Iraq member UN Security Council is trying to move away from the crisis with the international community and exit from Chapter VII.
Saleh added that Iranian banks in Iraq with foreign banks operating on the benefit of the Iraqi economy without upgrading it or achieve common interest and despite the fact that Iranian banks limited dealings.
He revealed the central bank adviser for stopping work Law No. 94 of 2004, which allows banks to Iranian and foreign access to Iraq and work within its financial system indefinitely due to the weak capacity of supervisory Bank and the limited supervisors banks who are competent and high capacity, explaining that the central bank can not expand in this area, although The work of foreign banks help Iraq to its financial liberalization and entry to the WTO.
And pressures exerted by the government on the central bank to allow banks Iranian Iraq, Saleh said the Iraqi government does not exercise at the moment any pressure on that side and exercised pressure, the central bank will not allow the presence of any bank Iranian covered international sanctions because entry so banks will enter Iraq b "trouble" with the international community.
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