"Report of the Committee on the financial requirements of the reform of the banking system in Iraq in February 2014" February 23, 2014

[TBomb]

From the Parliament site..this is all the page states:

 

"Report of the Committee on the financial requirements of the reform of the banking system in Iraq in February 2014"
February 23, 2014
 

http://www.parliament.iq/details.aspx?id=10462&AlwType=Pre

 

Link to the Report. It's a PDF in Arabic, yes there's copy and paste....it's a long one.  Feel free to handle this yourself..

 

http://ar.parliament.iq/CP/Websites/MainSite/Publication/takrer1.pdf

 

 

 

we do not have certainty that the Banking or ER laws are going to be voted on separately or within a basket, nor do we know IF the ER law will be contained within one document of legislation (or several).
However, I'm very grateful to be seeing this, finally!!!

Official title of the PDF (link above):

 

"Report of the Finance Committee

About the requirements for repair of the banking system in Iraq
February 1024

The Iraqi Council of representatives

The Finance Committee"

Edited February 23, 2014 by TBomb

[TBomb]

The recommendations of the government and the formation of a parliamentary supreme body of the banking reform

  

2/24/2014 0:00

BAGHDAD - Farah pumice

with the aim of establishing a sound banking supports and contributes to the economic growth in Iraq, called on the Finance Committee in the House of Representatives after consultations with government agencies, especially the formation of a supreme body to reform banking with finding a legislative environment that a bank will allow the development of banks in line with the current developments and future.
 

The report, prepared by the Finance Committee on the requirements for reform of the banking system in Iraq and submitted to the Council of Ministers and the competent authorities 0.24 recommendation for the development of the reality of public and private banks. controlled banking According to the report, obtained by the "morning", the Committee urged the formation of a body to oversee and control of banking institutions Banking and Finance will be linked to the House of Representatives, with the amendment of the law banks present to ensure the use of definitions and expressions legal legal language clear, and modify the provisions of the Banking Act No. 94 of 2004 in line with the nature of banking activity, specifically materials that have prevented banks from exercising investment activities, which are at the heart of its work , as well as reconsidering the amendment of laws related to monetary policy as law firms, securities and investment. was the Finance Committee, headed by MP Haider al-Abadi has recently held a seminar with the participation of a number of managers of state-owned banks, experts and specialists in the banking sector and representatives of the Iraqi Central Bank to view the final report of the Committee on Requirements reform of the banking system in Iraq, as Abadi said that the Finance Committee has embarked on the preparation of the report three years ago, after the use of international experts and interested in the work of the banks from the private and public sectors. firm to guarantee deposits as recommended by the Commission deciding to set up a company to guarantee deposits in private banks as well as setting up a company to ensure credit and the creation of a central fund to finance private banks to cover the financing of development projects in accordance with the terms and conditions of a special partnership between the government and private banks, as well as the enactment of Islamic banking with giving the right of Islamic banks to own movable and immovable property and sell it and invest and leasing and renting, including reclamation of land owned and leased and prepared for agriculture, industry and tourism and housing. called the report (which came with 76 pages) to the importance of encouraging banks to open more branches and offices of banking in the various governorates of Iraq to increase density banking, and put forward a plan to achieve mergers between private banks to create a banking units large size can occupy space is important of the banking community. banks specialist confirmed the necessity of activating the role of government banks specialized (industrial, agricultural and real estate) and the transfer of functions from banks inclusive to banks specialized on according to the goals it was created to accelerate the development process, and activating the work of private banks to employ the liquidity of large financial in providing credit and increasing their contribution to the development of economic sectors, and increasing amounts of credit to the private sector banks and allow them to accept deposits from the government and the acceptance of instruments drawn by the government departments.

 

To ensure keep up with developments, the report called for the introduction of modern methods of banking principles like the destruction and credit cards and modernize the banking business in line with the technological advances globally and linking banks to a single network makes it easy to drag and filing. Committee also recommended to facilitate the procedures for the opening of branches of foreign banks and remove the complexities of government departments, and activating the role of the Union and the Association of Iraqi banks, with the diversification of products and services for the banking sector, develop and create new products, and promote the concept of (administration Quality) and integrated into the banking operations represented by the planning, implementation and ongoing development of quality management systems to work according to international standards. training centers urged report also to build a broad base of leaders qualified and trained capable leadership and management of the banks in the directions that ensure their growth and development and its interaction with the shifts and developments in the banking industry Modern, in addition to the development of training centers banking, including working on the development of capabilities banking in Iraq and to provide research and studies can be for all banks the right to take advantage of these centers to build the capacity of employees or who wish to work in banks in both the public and private sectors. order to access the world, confirmed the importance of the application of best practices and international standards in order to achieve greater integration between the economy and reform at all levels through the application of the Basel 1-2-3 and work to develop legislation to be applied.

 

http://www.alsabaah.iq/ArticleShow.aspx?ID=65191

[MyLadiesDaddy]

Yes Sir, it is coming.

[dinarbeleiver]

Come on Iraq get this moving GO RV !!!!! GO GO RV!!!!! GO GO GO RV!!!!!!!!!

[sandfly]

YEP IT'S COMING