Parliamentary committee calls for amending the Banking Act in accordance with the policy of the free market
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Parliamentary committee calls for amending the Banking Act in accordance with the policy of the free market
Admin Wed Jun 19, 2013 4:39 am
06/18/2013 (00:01 pm)
[ltr] Baghdad / term follow-up
According to a member of the Finance Committee Hussain Yasiri, the importance of the amendments to the Banking Act, especially Article (28), according to the policy of a free market economy to support the Iraqi private sector in
Download a member of the Committee on the economy and investment Jassim Mohammed private banks and banking companies responsible for the low exchange rate of the dinar against the dollar.
Yasiri said in a press statement that the support of the private sector investment and the advancement of the process you need to make amendments to some important laws, which were previously legislation in the House of Representatives, including the law (banks, companies and investment and tax), the format compatible with the policy of free market economy.
He added: that the private sector should take the leading role in Iraq to promote the growth of the Iraqi economy, pointing out that the Constitution allowed for in Article (25) to give an important role for the private sector in the promotion of the country's economy.
He pointed out that Article 28 of the Banking Act do not help to support the private sector and investment in the country, they need to be modified to boost investment in Iraq.
For his part, carrying member of the Committee on Economy and Investment Jassim Mohammed some private banks and banking companies responsible for the low exchange rate of the dinar against the dollar due to the sale of part of the hard currency at the official rate citizens while many quantities sold to the black market.
شنكالي said in a press statement that the price of the dollar at the Central Bank (1166) dinars, and sold to licensed banks and companies at a price (1179) dinars, and the banks in turn sell them at a price (1189) dinars to citizens.
He explained that some banks sell a fraction of the dollar to the citizens at a price (1189) dinars, while large quantities they sell to the black market and at commercial rates led to an increase in the dollar exchange rate in the local market.
He added: Committees of Economy and Finance النيابيتين suggested the central bank to distribute part of the employees' salaries in dollars for a period of at least three months at the official rate of the dollar, so as to reduce the value of the dollar and support the Iraqi dinar exchange rate, but some of the people from decision-makers taking advantage of the current situation experienced by the Iraqi dinar.
This is due to begin a civil banks to reduce the sale price of the dollar to the citizens at 1183 dinars, specific sales price for the purposes of the appropriations to 1178 dinars.
http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.almadapaper.net/ar/news/446257/%25D9%2584%25D8%25AC%25D9%2586%25D8%25A9-%25D9%2586%25D9%258A%25D8%25A7%25D8%25A8%25D9%258A%25D8%25A9-%25D8%25AA%25D8%25B7%25D8%25A7%25D9%2584%25D8%25A8-%25D8%25A8%25D8%25AA%25D8%25B9%25D8%25AF%25D9%258A%25D9%2584-%25D9%2582%25D8%25A7%25D9%2586%25D9%2588%25D9%2586-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B5%25D8%25A7%25D8%25B1%25D9%2581-%25D9%2588&usg=ALkJrhiEiFNi5f4S3tkGd_LJMPbz7qCaBQ
[/ltr]
[ltr] Baghdad / term follow-up
According to a member of the Finance Committee Hussain Yasiri, the importance of the amendments to the Banking Act, especially Article (28), according to the policy of a free market economy to support the Iraqi private sector in
Download a member of the Committee on the economy and investment Jassim Mohammed private banks and banking companies responsible for the low exchange rate of the dinar against the dollar.
Yasiri said in a press statement that the support of the private sector investment and the advancement of the process you need to make amendments to some important laws, which were previously legislation in the House of Representatives, including the law (banks, companies and investment and tax), the format compatible with the policy of free market economy.
He added: that the private sector should take the leading role in Iraq to promote the growth of the Iraqi economy, pointing out that the Constitution allowed for in Article (25) to give an important role for the private sector in the promotion of the country's economy.
He pointed out that Article 28 of the Banking Act do not help to support the private sector and investment in the country, they need to be modified to boost investment in Iraq.
For his part, carrying member of the Committee on Economy and Investment Jassim Mohammed some private banks and banking companies responsible for the low exchange rate of the dinar against the dollar due to the sale of part of the hard currency at the official rate citizens while many quantities sold to the black market.
شنكالي said in a press statement that the price of the dollar at the Central Bank (1166) dinars, and sold to licensed banks and companies at a price (1179) dinars, and the banks in turn sell them at a price (1189) dinars to citizens.
He explained that some banks sell a fraction of the dollar to the citizens at a price (1189) dinars, while large quantities they sell to the black market and at commercial rates led to an increase in the dollar exchange rate in the local market.
He added: Committees of Economy and Finance النيابيتين suggested the central bank to distribute part of the employees' salaries in dollars for a period of at least three months at the official rate of the dollar, so as to reduce the value of the dollar and support the Iraqi dinar exchange rate, but some of the people from decision-makers taking advantage of the current situation experienced by the Iraqi dinar.
This is due to begin a civil banks to reduce the sale price of the dollar to the citizens at 1183 dinars, specific sales price for the purposes of the appropriations to 1178 dinars.
http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.almadapaper.net/ar/news/446257/%25D9%2584%25D8%25AC%25D9%2586%25D8%25A9-%25D9%2586%25D9%258A%25D8%25A7%25D8%25A8%25D9%258A%25D8%25A9-%25D8%25AA%25D8%25B7%25D8%25A7%25D9%2584%25D8%25A8-%25D8%25A8%25D8%25AA%25D8%25B9%25D8%25AF%25D9%258A%25D9%2584-%25D9%2582%25D8%25A7%25D9%2586%25D9%2588%25D9%2586-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B5%25D8%25A7%25D8%25B1%25D9%2581-%25D9%2588&usg=ALkJrhiEiFNi5f4S3tkGd_LJMPbz7qCaBQ
[/ltr]
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