Member of the Finance Committee: Central Bank cause failure of the banking sector

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March 20, 2013 12:19 PM Last updated: 20 Mar 2013 12:19


Download member of the Finance Committee MP for the coalition in Iraq Hassan Auzmn Bayati, the central bank responsible for backwardness domestic banking sector on developments in the international banks, the lack of seriousness in new legislation for banks Bayati said told "Nahrain News": The parliamentary Finance Committee has asked the central bank to prepare A new law for banks differs from current law in terms of forcing local banks using techniques and technological in their work, to be sent to the Council of Ministers and then to the House of Representatives for the purpose of legislation and added: that the central bank deliberately not drafted a new law on banks and preferred to stay on the current law, which does not keep pace with developments in banks in the world, and this in turn will negatively affect the economic development of the country because they rely on the development of the banking sector and private sector support and pointed out: that the central bank is going through problems on the one hand has no conservative, but managed agency as well as displays most of its staff and advisers to arrest because of accusations involving corruption and money laundering, these are all influenced the Bank's work, including the preparation of the new law for banks


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