****** IMF calls for the restructuring of the rational and Rafidain Bank

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****** IMF calls for the restructuring of the rational and Rafidain Bank

Post  Admin on Tue Sep 19, 2017 9:50 am

Economy News _ Baghdad

The International Monetary Fund (IMF) on Monday called on the Iraqi authorities to restructure the Rasheed and Rafidain banks and strengthen the legal framework of the central bank, calling for the cancellation of the remaining entry on the dinar exchange rate.

The Iraqi Business Council said in a press statement received by "The Economist News" that "the head of the mission of the International Monetary Fund in Iraq, Christian Joss, discussed in the Jordanian capital Amman with the delegation of members of the Iraqi Business Council the latest developments in the Convention on credit readiness with Iraq and the challenges facing the Iraqi private sector" .

"The IMF urged the Iraqi authorities to take further measures to strengthen oversight and implement plans to restructure state-owned banks that control the banking system, including the Rashid and Rafidain banks, strengthen the legal framework of the Central Bank, and eliminate the remaining restriction on the exchange rate and the practice of multiple exchange rates , And the implementation of measures to combat money laundering and the financing of terrorism and fight corruption.

"The International Monetary Fund stressed the importance of implementing structural reforms to improve the investment climate and diversify the economy to encourage private sector activity and improve the business environment," the statement quoted Jos as saying.

"Integrity in Iraq does not need new laws, but rather to implement existing laws strictly to combat corruption. The international community should help Iraq in this regard," he said.



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