***** Association of Banks reveal rework its rules of procedure to meet the private banks

Admin Tue Jul 15, 2014 9:10 pm

15/07/2014

Baghdad - Revealed the Association of Iraqi banks, on Tuesday, for the reformulation of the rules of procedure of the Association to suit the need of banks operating in the country, and noted that the goal is to "develop", the banking sector, while confirming they are working to be the "real guns", for banks, drew that private banks have helped in "the reconstruction of the country.

A member of the Association of Abdul-Aziz Hassoun, said in an interview to the (long-Presse), "The association found that it is essential that there be new rules of procedure in line with the developments in the banking sector in Iraq, especially after the decision issued by the government agencies concerned with the sector," noting "The Association has decided to redraft its rules of procedure in line with the need of Iraqi banks operating in the country.

He said Hassoun that new rules of procedure found him determinants of which take into account the rights of the banking sector and work in a unified and strong partnership for the development of the banking sector and build a base Iraqi bank to meet the requirements of economic and financial development in Iraq," noting that "the Association strives to be the true defender of the banks operating in Iraq and coordinated well between them and the monetary and fiscal authorities in the country to solve all the problems.

He Hassoun that "private banks operating in Iraq have a special role and a leading role in the development of the country's economy through their participation in the reconstruction of the country through loans to large enterprises, medium and small, as well as reducing unemployment and moving the wheel of investment and infrastructure projects, control and maintain the Iraqi dinar against the currencies other.

It consists of the banking system in Iraq from 43 banks, as well as the central bank, and are distributed according to government ownership between seven and 30 waged, including seven Islamic, as well as six foreign banks.

http://www.almadapress.com/ar/news/34009/