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Hue Mi
01-13-2014, 12:30 AM
Bankers: legislation law will develop deposits of private banks (http://www.iraqhurr.org/content/article/25227667.html)

Baraa Afif
12.01.2014

Expected bankers, economists and the bank deposits, Bill moved in reality work of private banks in Iraq.

The project aims to protect the deposits of citizens, in addition to the number of controls that the Central Bank still operates under this law, including the possibility of increasing capital through bank deposits, government ministries.

She is a member of the Finance Committee in the Chamber of Deputies najeeba Najib statement made by radio free Iraq: that the Commission is in the process of holding a workshop with experts and bankers, to introduce their proposals about this law.

Among the controls set by the Central Bank in advance of the private banks is that the minimum bank capital of 250 billion Iraqi dinar.

The total capital of the 30 private banks banks across Iraq over 7 trillion dinars.

And the Executive Director of the Association of private banks a. Finch, these banks have considerable economic burden in the country, and that the legislation of the Act on the protection of deposits, will increase the confidence of depositors, leading to increased capital.

On the other hand, the economic expert attributed the mock, delayed sentence Majid of banking laws in the State Council to professional economists, and that these laws be adopted will boost banks and support the economy.

The IMF said in a report released in 2013, that Iraq's banking system still needs greater efforts by the Central Bank to revise the monetary policy tools and strengthening bank supervision and accelerate the restructuring of the banking system.