Demand to amend Article 28 of the Banking Act

08/14/2013 12:00 AM

Baghdad - شكران the Fatlawi
Banking expert felt that the current banking law is not consistent with the nature of the current stage, Qasim said Muhannad al-Saadi »Sabah» that there are sockets on this law in terms of legal drafting pointing out that he did not use the normal legal expressions in Iraqi legislation.

He added that the legislation worked out used legal language alternative imposed it linking Arab laws and the laws of Islamic noting that the Banking Act has not been used expressions legal convention in Iraqi legislation as well as the use of legal language alternative translated poorly missed a lot of meanings.

Said Saadi said the law Use terms and labels curious about Iraqi law, where do not know meaning Furthermore, this law does not meet the aspirations of the Iraqi banks because under the hands of banks, pointing out that Article 28 of the Banking Act, which preceded Article 27 identified the range of activities that is possible to exercise and did not remember all the activities, but part of where barred Article 28 banks from exercising activities at the heart of a banking investment.


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