Finance parliamentary: the importance of isolating the banking sector by the Central Bank to regulate and develop the work

29-08-2013 11:58 AM

Baghdad (news) .. Called on the Vice-Chairman of the Finance Committee MP / coalition of Kurdish blocs / Ahmed iceberg God, the need to isolate the banking sector by the Central Bank through the creation of a special body dealing with banks for the purpose of organizing its work and development.

Faizullah said (of the Agency news): The Central Bank of Iraq did not achieve the desired goals in regulation and control and develop the work of the Iraqi banking sector because of concern the monetary policy of the country, and how to support the stability of the exchange rate of the Iraqi dinar.

He added: that most of the developed countries, including the United States have a major financial institution dealing with private banks, so you must isolate the Iraqi banking sector by the Central Bank after the establishment of an independent body of private banks and banks interested in working on development.

It is noted that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank Ahli including (7) Islamic banks in addition to (6) of foreign banks.

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