*********** Parliamentary efforts to organize the work of banks for new legislation

Baghdad -arac Press October -8: Parliamentary Finance Committee intends to put forward a private organization of work of government and private banks in Iraq legislation.

The committee member said Jabbar al - Abadi in a press statement on Saturday, " The Commission is determined to put forward legislation defining the banking business and dealing with windows mechanism (credit and borrowing and other banking transactions), as well as allow the domestic banks and identify its mechanisms to prop up the government banks."

He added that " the work of private banks is limited to windows sell the currency , which requires a serious stand on this matter , " noting that " the banking business in Iraq is not an active rise of the development in the world."

He noted, " The coming days will witness the launch of new private banking work legislation and investment in Iraq."

According to observers witnessing the banking sector in Iraq marked decline through economic assurances for the decline in money to the Iraqi central reserve, as well as variation sell hard currency, prompting the House of Representatives and economic experts and Iraqi government demand to monitor auctions sell the currency on the one hand, and on the other hand , the introduction of hard currency into the country through activating the work of border crossings and inventory to deal with the difficult currency.

The investigation revealed judges specialize money laundering issues in the fifth of October this that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies transform Mala.anthy (1)

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