View Full Version : Private banks Association organizes an International Conference to amend its law

Hue Mi
09-25-2013, 10:02 PM
Special Association Conference

Private banks Association organizes an International Conference to amend its law (http://www.almadapress.com/ar/news/18664/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%AA%D9%86%D8%B8%D9%85-%D9%85%D8%A4%D8%AA%D9%85%D8%B1%D8%A7-%D8%AF%D9%88)

Author: ASJ
Editor: AF, BS
13/09/25 11: 48
Hits: 103

Association of private banks in Iraq, said Tuesday that it will organize an international conference later this month to discuss various topics concerning the banking sector generally and amending the law of private banks, with the shortcomings affect the operation of these banks, confirmed the existence of these laws change to return to the "correct path" in the work of the private banks.

He said President Abdul Aziz Hassoun told the (term), "the private banking sector has suffered a number of attacks that wanted to overthrow him and remove him from the economic scene because it was and still is an active and leading role in supporting the Iraqi economy and domestic financial policies pursued by the Central Bank."

Hassoun explained that "the Association of banks in the development and support of private banks agreed to organize an International Conference on the 28th of this month in Baghdad to discuss various topics that would support the Iraqi economy in General and the private banks in particular," adding that "many calls addressed to various actors and personalities and they, in turn, assured us the audience, led by Prime Minister Nouri al-Maliki, Governor of the Central Bank, Abdul Sattar and representatives from the World Bank and representatives of unions and Arab and foreign banking companies as well as Managers and owners and banks in Iraq."

"Finch" on top of the topics to be discussed at the Conference was to amend the law of private banks because there are reviews of the banking sector and the Banking Act No. 94 of 2004 and many observations of the paragraphs of article 28 of law under which the private banks to deal in any investment project in various fields."

Hassoun said that "there is a negative impact on the banking industry as a result of these laws, but we will try to change course and return to the right track of all private banks in the world that is essentially the backbone of economic development of the country."

The banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by property (7) banks and 30 private banks, including Islamic banks (7) in addition to (6) foreign banks.