Confirmed a member of the Knesset Finance Committee Kurdistan Alliance MP Najiba Najib “the end of the necessary preparations to discuss the new legislation with the central bank for the advancement of Iraqi banks.”
Najib said today that “the Commission ended its willingness to discuss the legislation of a special law regulating the work of Iraqi banks it works old laws do not serve the economic development process through which Iraq now.”
It was hoped the parliamentary Finance Committee conference last July to determine the defect valuable old legislation government and private banks, but it has been postponed.
According to an economist at the Ministry of Finance Hilal Taan the “Banking Act current Iraqi restricted laws precedent limiting the effectiveness of banks process of economic development needed by Iraq, “stressing today in a statement to the National Iraqi News / Nina /” The new legislation for banks is a critical necessity because Iraq is on the verge of a comprehensive economic development. “
“It is necessary to speed up the issuing of the new law to bring it into line with the new economic movement of openness to the market economy. “
Najib was indicated in an earlier statement to “convene a conference in mid-July to determine the faulty banking legislation for government and private banks.”