Expert: deteriorating political and security situation caused to stop the wheel of development banking

Published in: 12:58, February 6, 2013 by ipa 2 Views: 50
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BAGHDAD (Iba) .. Refer economic expert Majid picture, the reasons for non-advancement of the banking sector and the global support to the banks of the lack of a suitable atmosphere to implementation of scientific deliberate plan pursued by banks and the unstable security situation and the political and economic situation in the country.

He said Suri told the independent press (Iba) .. "The Shura Council is discussing a special law for the government banks regulated work and tries to adopt good governance at the present time and that is to separate capital for management and separation of Chairman of the Director General, stressing: that the deterioration security situation and the political and economic makes the implementation of these laws is impossible on the ground. "

"There are laws on Islamic banks and there are several laws regulating the work of banks and full instructions issued since March / 2011 on the work of banks, but not implemented, noting: the problem is not in the Banking Act and not in banks but the problem lies in the general situation of political, security and economic situation and is encouraging to develop new laws. "

Confirmed: The stabilization of the security conditions and the appropriate political and economic encourages banks that do their work properly with the help of the Central Bank and international Moisat assistance on the subject of restructuring banks. "

"The law must be based organizing the work of banks in accordance with the general principles used in the international banking industry is based on the recommendations of the Basel World (1_2_3) to put pressure on regulators to issue appropriate laws and amendments to the work of banks."

Suri said the existence of "a parliamentary committee studying with some experts process back legislation on banks, especially the current Banking Act and Article 28 of this Law, which prevents direct investment banks in the real sectors." (End)


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