********* New rules of procedure for the Association of Banks

7/8/2014 0:00

Baghdad morning


The Commission found emanating from the General Authority of the Association of private banks in Iraq, written for the draft new rules of procedure of the Association after mandated by the General Assembly is expected to hold a meeting Estnaúa for discussion and approval.

 Announced that authoritative source in the Commission said it has completed a new version of the system in the hope of presented to the public for discussion and approval.

 source pointed out that the Commission deems modified the rules of procedure for the conviction of the importance of that is in line with the requirements of the new phase and in order to meet the need of banks to a strong bond contribute to the maintenance of the rights of the banking sector and then work on the unification of efforts by working fruitful and constructive in what between banks and to meet the requirements of development.

 explained that the rules of procedure new look will enhance the objectives of the Association and to expand the powers of those who made it and what makes it able to be a haven for banks and coordinated between monetary and fiscal authorities and to enhance the goal of cooperation in addressing the challenges faced by the capital market, and the Association seeking to apply the provisions of the Rules and procedures the central bank aims to maintain the stability of the money market to their importance in achieving economic stability.

 The source noted that the move comes after being hit by private banks in Iraq to accusations are untrue by her statements to the media of views had nothing to do and it is the owners of Jurisdiction, including damaged the reputation of the Iraqi banks to enable the Association of the appropriate response in the media or, if necessary, legally.

 Concluded to to say that the Association has achieved successes at both the exterior and interior and has a special assessment by the Department of organizations in the Council of Ministers and that the new system comes to complement its role in strengthening the national economy through its service to the banking sector.


http://www.alsabaah.iq/ArticleShow.aspx?ID=74135

Experts stress the need for the adoption of the budget law quickly

 

07/07/2014

With the House of Representatives held its first meeting last Tuesday, near the good citizens rejoiced address many of the outstanding problems, particularly the adoption of the budget for the current year. Although the session was ended after the failure to elect a president and two deputies, but all eyes are still waiting for the regularity of meetings of the Council and the enactment of laws to begin during the remaining months of the year.

Observers say many economic projects stalled due to lack of approval of the General Budget Law which is one of the most important laws, as well as that approval would open the door wide to the appointment of young people, wondering if the new parliament will adopt this law as it is or will be submitted amendments to it?

And confirms the economic expert Majid picture on the need to reconsider the budget amendment and hold it, so that it includes the expenses of the ongoing investment projects, not only for future projects.

It stresses the economic expert Hilal Taan need approving the budget for the six months remaining of the current year, especially that many investment projects need funding, as well as the country's vulnerability to the economic recession as a result of the delay in approving the budget, noting that it is possible adoption of the budget is complete, but the ministries will find it difficult in the disbursement of funds for the first six months.

It is said that the Budget Law for the year 2014 witnessed the profound differences between the parliamentary blocs, the most controversy was the coalition of state law and the Kurdistan Alliance on oil imports issued by the Kurdistan region of Iraq. The cause delayed Ptlka important investment projects, as well as to stop the appointments for this year.

And confirms the economic analyst Bassem Jamil Antoine that failure to approve the budget caused Ptlka implementation of Five-Year Plan, which may extend to seven or eight years, as well as on numerous development projects.


http://www.iraqhurr.org/content/article/25448124.html