Central Bank covers foreign banks US dollar accounts

2/2/2015 0:00

BAGHDAD - morning
While the Central Bank announced, launching legislation Deposit Insurance Act, and to cover bank accounts abroad in US dollars, search maintain Mohsin Ismail, with the General Secretariat of the Cabinet Council, the mechanics of the general budget disbursement after approval by the House of Representatives.

Bank as the official body concerned with the monetary policy of the country, took a number of decisions «mission» including speeding «legislation Deposit Insurance Act, and approve the appointment of a representative of the private banks in the Central Bank».

This step comes in line with the Bank's tasks and responsibilities in supporting the development and stimulate the national economy.

Also included decisions, approval of the Central Bank to cover the bank accounts abroad in US dollars, to cover imports for other purposes without the need to pass a window sell the currency at the central bank.

He said a press statement that «the bank will monitor those processes within a simplified and transparent mechanism to put the creation of capacities and capabilities plan to activate documentary credits instead of the current style and coordination with the banks in this regard».

As stated in the decision, recommendation to the government «to accept the state's institutions of instruments issued by private banks as well as the receipt of taxes and fees in favor of the government, and the formation of a committee to reconsider the structure of benefits, including expanding the credit and liquidity provision».

In a related context, hosted by the General Secretariat of the Council of Ministers Council, Central Bank Governor Ali Mohsen Ismail, yesterday, to discuss the mechanics of the general budget disbursement after approval by Alnwab.ogery Council during the meeting, which was chaired by the Secretary General of the Council of Ministers, Hamid Khalaf Ahmed, Display extensive details of the budget materials and maintain the exchange rate of the Iraqi dinar »He added," The meeting dealt with the importance of price uncles smart card in the trading and banking business dealings, and educate citizens use to reduce the procedures. "

He noted that "citizens Affairs Department presented its first report on the indicators that the government monitored e-citizen program and the number of users and government agencies that responded to the program».

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