On: Friday 6/4/2012 6:36
Exposed to economic and investment commission for the formation of a parliamentary committee to look into the laws that proceeded to the investment sector, and House Speaker Osama Najafi has called for a review of legislation in the field of investment, stressing the need to establish a consortium of banks to date.
At the same time announced the government spokesman, Ali al-Dabbagh that the Council of Ministers
And approved a draft law of the Islamic Bank of rivers of the auditor by the State Council and submitted to the House of Representatives.
A member of the Committee of Economy and Investment Abdul Hussein Abtan’s (Twilight News) recently and during the implementation of some investment projects have emerged some of the problems and constraints in the laws of Alasttmarmhira that his committee will hold special sessions to consider these problems and to identify the most important points are that need to be amended and presented to the Council House of Representatives to take its course legislature in that.
“said Abtan that the real problem in the work of investment is not in laws that may work to modify, but the problem is that the investment does not have a head mastermind manages projects and followed correctly. He Abtan on the existence of a state of overlapping powers and lack of coordination between the institutions involved in the investment sector as well as bureaucracy, corruption, financial and administrative rampant, as well as not taking some of the institutions active in this area its role is impacted negatively on the system. and Chamber of Deputies passed in 2006 a new law for investment, and highlights of the law that the investment is responsible for All projects investment strategy of a federal nature exclusively, while the regional and provincial bodies responsible for investment planning and granting investment licenses in their regions and conducted by the parliament extensive changes at the end of 2009. the country seeks to support the banking system by closing the deficit of local banks to cover the financial guarantees required by investment companies, which represent the problem of limiting the entry of companies specialized in the electricity sector, infrastructure and services.
Announced the government spokesman, Ali al-Dabbagh that the Board approved the draft law on Bank of Mesopotamia Islamic auditor by the State Council and submitted to the House of Representatives based on the provisions of articles (61 / I and item 80 / II) of the Constitution, taking into account the notes of the Legal Department in the Secretariat of the Council of Ministers.
Dabbagh said in a press statement that the approval of the draft law on Bank of Mesopotamia Islamic in seeking to expand economic activity and work to increase the size of Islamic banking to the desire of a large segment of citizens’ access to banking services approval of Islamic law and which are consistent with the provisions of the Constitution, this will be the bank a magnet for investors Islamists who are afraid to deal with other banks because of the benefits and some banking transactions. Al-Dabbagh said that the Ministry of Finance has requested in the February 12, 2012 view the bill Bank of rivers of the Islamic Council of Ministers for approval and forwarded to the House of Representatives where that article (35) of the budget law for 2011 has provided for the establishment of an Islamic bank by the Federal Ministry of Finance with a capital of (25) billion dinars, and submit the draft law of incorporation to the Council of Ministers and Representatives before June 1, 2012 and Article (28) of the Budget Law for year 2012 have committed to the bill before June 1, 2012.
Al-Dabbagh that the Bank of the Sharia Supervisory Board consists of (4) members with experience and competence in Islamic Jurisprudence and its Principles The method of their choice and determine the reward are set by the rules of procedure as are issued the annual report on the extent of the commitment of the bank formats legitimacy and is subject to all the staff of the bank to the provisions of the Service Civil No. (24) for the year 1960 and the law of discipline of state employees and the public sector No. (14) for the year 1991 and the Unified Retirement Law No. (27) for the year 2006.
