Deputy calls for a legal amendment of the Central Bank and banks
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Deputy calls for a legal amendment of the Central Bank and banks
Called on Vice-President of the Finance Committee Ahmed Hassan Faizullah, the need to amend the Central Bank and banks, to Tardahma with the Penal Code. Said Faizullah: Most Iraqi laws legislated need for the amendments that it interferes with other laws and the considerable disruption and some paragraphs do not serve the interest of the country.
He : that the Central Bank Law No. (56) of the Year (2004) and the Banking Law No. (94) for the year (2004) contrary to the Penal Code No. (111) of the Year (1969) rate, in addition to the translation of the law were not legal translations solid, what makes a reluctance to reduce the smuggling of foreign exchange and other non-legal.
He pointed to: that the amendment of these laws will help the central bank to develop the financial sector and reduce the suffering of Iraqi citizens through the introduction of modern methods, in addition to that it does not allow speculators to transfer huge amounts of money outside the country illegally.
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