Deputy: Permit banks to grant credit will facilitate the operations of foreign exchange for the money to citizens and merchants

Admin Tue Feb 19, 2013 7:37 am


Date: 02/19/2013 05:58:27 Tuesday

Deputy: Permit banks to grant credit will facilitate the operations of foreign exchange for the money to citizens and merchants Filemanager

Baghdad (news) ..
According to Vice Chairman of the Finance Committee MP / coalition of
Kurdish blocs / Ahmed Faizullah, that the decision to give the local
authority to give banks credit will facilitate the process of foreign
exchange for money for the citizens and merchants, calling for process
control to reduce money laundering.

Said Faizullah (Agency news): The central bank's decision to authorize
the local authority to give banks credit is positive because it will
encourage investment and facilitate external transfers of funds.

He added: that this process must be accompanied by strict censorship
and scrutiny by the central bank to prevent the phenomenon of money
laundering because he may exploit this process Lamour illegal by banks,
as happened in recent times.

This was the central bank announced its authorized local banks
empowered to award credit for citizens and merchants and opening letters
of credit.

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