Erbil, July 22 (Rn) – approved the Economic Committee in the Council of Ministers on the establishment of ministries and government agencies to accept the certified instruments issued by private banks $ 25 million up to a maximum of transactions after the procedure was 5 million dinars. According to a statement of the Council.
The statement quoted the Deputy Prime Minister Roژ Nuri Shaways Chairman of the Economic Committee today that “the Economic Affairs Committee held its twenty-chaired by the Deputy Prime Minister Roژ Nuri Shaways Chairman of the Economic Committee and was attended by Minister of Trade and Industry and Minerals and the Iraqi Central Bank Governor and Chairman of the National Investment Advisor to the Prime Minister for Legal Affairs, and Dr. and economic adviser in the Office of the Prime Minister. “
He added that “the Commission adopted several resolutions and recommendations and the most important of approval to amend the decision of the Economic Commission, which provided for (by the ministries and government agencies to accept instruments certified issued by private banks $ 25 million up to a maximum of transactions of Procedure) after it was 5 million dinars.”
The statement noted that “project was approved instructions and implementation of government contracts and submit them to the Cabinet for approval note that the most important thing was new guidelines to ensure transparency in the contracting procedures was addressed in the draft new instructions for the assignment of the presidency and membership of committees of the opening and analysis to the staff of advanced degrees the career ladder at the opposite of the instructions in force, was shortened sentences for drawing documentary are clear and precise easy to third parties contracted to easily identify the procedures for drawing documentary unlike regulations in force, were members of a special separate deal with contracts for advisory services and methods of contract where the requirements and conditions of the contract Within this style. “
And “it was the text to allow for public companies and foreign companies to submit the performance bond within 21 days from the date of signing the contract on the contrary, the window of instructions that necessitated the provision of insurance before signing the final contract.”
The statement noted “the importance of the work of the banking sector has decided Economic Committee held a special session to discuss the reality of the private sector bank in terms of opening letters of credit, bank guarantees and government deposits at private banks.”