On: Friday 17/02/2012 14:20
Baghdad (news) .. student director of the Association of private banks Abdul Aziz al-Hassoun to amend the Banking Act or new legislation to regulate the work of private banks in Iraq.
Hassoun said in a statement to the Agency (news) Friday: The law of the current Iraqi banks no longer meets the needs of banks in the application because we noticed there are some paragraphs need to amendments or additions.
Hassoun said: There are differences of some paragraphs of the current law by private banks, which confused her and made him a regular, in addition to Islamic banks are still operating without a legal code of its own and this is what makes the work there is chaos in the Iraqi banking.
He called for legislation or amendment of the Banking Act in order to organize the work of Iraqi banks, public and private service for the Iraqi state and its people. As stressed by the Economic Commission for MP / coalition in Iraq / Qusay Gomaa need for new legislation supports the Iraqi banks two branches of government and private sectors for their contribution to the investment process and the reconstruction of the country.
Gomaa said in an earlier statement (the news): The banking system in Iraq too late for the regimes of modern and advanced in the world, Iraqi banks now are more like the offices of banking, and do not have an active role and vital role in the investment operations of the country, whether payment on credit or direct.