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Amendment Iraqi banks laws


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Amendment Iraqi banks laws

 

Amendment Iraqi banks laws

08:53

03/10/2015

The governor of the Central Bank of Iraq, the relationship, that his country is developing a strategy for the next five-year plan includes the modification of some competent job banks and create some institutions laws. Iraqi Central Bank was founded in 1947 and it was called then the name of National Bank of Iraq, but it has been modified his name in 1956 to the Central Bank of Iraq and is the main branch of the bank in central Baghdad, and his duties implementation of monetary policy, and management of foreign reserves, and the issuance of currency management and regulation of the banking sector to promote the system competitive financial stable. He Keywords in a special statement to the reporter Anatolia, that "the plan include amending some laws on job banks such as the law of the Central Bank and the Banking Law and the Law on Deposit Insurance in banks as well as money laundering law," adding that "some of these laws will complete the legal formulations have others present in the Iraqi parliament. " And opened a number of foreign bank branches in Iraq in 1956, while the number of Iraqi private banks opened with a little money relative to government banks in the private successive periods after the invasion of the United States of Iraq in 2003. He said the governor of the Central Bank of Iraq, that "the Central Bank intends to create Some institutions that guarantee citizens' deposits at private banks in order to encourage people to deposit in banks, and the introduction of modern technologies through complete electronic payment project. " Experts in the field of economy, the banking sector in Iraq and describes Palmtkhalaf depends on capital does not rise very few global banks or countries in the region, with most of the State-owned banks operating in its dealings with the old systems are still daily. The governor of the central bank, last Saturday, said that the volume of assets (deposits) Iraqi banks are 225 trillion dinars (192.9) billion dollars, of which 204 trillion (174.9) billion dollars in government banks, by 80% and the rest in private banks. He denied the Iraqi Central Bank, last week reduced its reserves of hard currency (the dollar), indicating that it covers the Iraqi currency traded at more than one and half times the size, without setting a specific value of the reserve. The Hoshyar Zebari, Minister of Finance in the Iraqi government said in February 27 last that the Central Bank of Iraq's reserves of hard currency dropped to $ 68 billion, which means a decline of about $ 9.7 billion from the level at the end of 2013, a decline of 12.5%.

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The appearance of Mohammed Saleh: the banking system in Iraq and the problems need to be amended
Wednesday, March 11 / March 2015 08:10

b_276_182_16777215_0___images_idoblog_up 

[baghdad where]

Said Advisor to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, said that the banking system in Iraq needs to be adjusted and new legislation to him.

Said Saleh told all of Iraq [where], that "the failure of the banking system, problems and suspicions of corruption and needs to be revised in the legislation."

He pointed out that "Islamic banking is still without law."

He also called for government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system."

The central bank has begun to apply the new system of remittances and sell the currency.

According to a source familiar with the bank's [where] that "the coverage needed banking offices, banks and civil government of currencies will be through money orders only," adding that "this decision is not contrary to what was stated by the budget bill for 2015 identifying the auction amounts to $ 75 million ".

 

The source indicated that "the move is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction."

The Central Bank of Iraq sells in previous years, sums up to billions of dollars a month, but decreased significantly in the past few weeks where he sold more than $ 2.8 billion in the month of January last.

It is said that the bank was selling the dollar on the price of 1166 Iraqi dinars to the dollar, which is sold in markets and banking offices at about 1220 dinars a difference of 54 dinars.

It was expected by the bank's decision to drop the sales of the dollar in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last, and ratified by the Presidency of the Republic in 10 of this February.

The Act provided that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days of the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the Atar.anthy 2

 

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The appearance of Mohammed Saleh: the banking system in Iraq and the problems need to be amended

By Mohammed Emad ten twenty-four 11/03/2015 | Views: 55
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Brother - BAGHDAD

Said Advisor to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, said that the banking system in Iraq needs to be adjusted and new legislation to him.

Saleh said in a press statement that "the failure of the banking system, problems and suspicions of corruption and needs to be revised in the legislation."

He pointed out that "Islamic banking is still without law."

He also called for government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system."

 

The central bank has begun to apply the new system of remittances and sell the currency.

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Under section: economic Dated: March 11, 2015

 

 

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 BAGHDAD / News Network Iraq said Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, the adviser of the banking system in Iraq needs to be adjusted and new legislation to H.oukal Saleh: "The banking system in which retardation, problems and suspicions of corruption and needs to be revised in the legislation." He pointed to the "The Islamic banking is still without law" .odaa favor of government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system." The central bank may embarked on a new system of remittances and selling Alamlh.ozkr a source familiar with the bank: "The cover need banking offices, community and government banks of currencies will be by remittances only," adding that "this decision is not contrary to what was stated by the budget bill for 2015 specify amounts auction for $ 75 million. "And the source said," the measure is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction. "The Central Bank of Iraq sells in previous years, sums up to billions of dollars a month but decreased significantly in the past few weeks where he sold more than $ 2.8 billion in the month of January Almadi.ahar that the bank was selling the dollar on the price of 1166 Iraqi dinars to the dollar, which is sold in markets and banking offices at about 1220 dinars a difference of 54 Danara.okan expected by the Bank's decision that the sales of the dollar goes down in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last, and ratified by the Presidency of the Republic on 10 February Gara.ons law that "the central bank is committed to identifying sales of currency difficult [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for participating in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and input Alkmarki within 30 days from the date of purchase of the amount and otherwise apply to the bank penalties stipulated in Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

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History of edits:: 10/3/2015 1:09 p.m. • 16 visits readable
story_img_54febef6d832e.jpg
{Baghdad: Euphrates News} House of Representatives began its regular, on Tuesday, the first reading of the law Alasalamah..itba banks


Read more: http://dinarvets.com/forums/index.php?/topic/198697-parliament-will-hold-its-19th-headed-by-al-jubouri-and-the-presence-of-234-deputies/#ixzz3U4Oxdu6r

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The appearance of Mohammed Saleh: the banking system in Iraq and the problems need to be amended
Wednesday, March 11 / March 2015 08:10


 

b_276_182_16777215_0___images_idoblog_up

[baghdad where]

Said Advisor to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, said that the banking system in Iraq needs to be adjusted and new legislation to him.

Said Saleh told all of Iraq [where], that "the failure of the banking system, problems and suspicions of corruption and needs to be revised in the legislation."

He pointed out that "Islamic banking is still without law."

He also called for government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system."

The central bank has begun to apply the new system of remittances and sell the currency.

According to a source familiar with the bank's [where] that "the coverage needed banking offices, banks and civil government of currencies will be through money orders only," adding that "this decision is not contrary to what was stated by the budget bill for 2015 identifying the auction amounts to $ 75 million ".

 

The source indicated that "the move is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction."

The Central Bank of Iraq sells in previous years, sums up to billions of dollars a month, but decreased significantly in the past few weeks where he sold more than $ 2.8 billion in the month of January last.

It is said that the bank was selling the dollar on the price of 1166 Iraqi dinars to the dollar, which is sold in markets and banking offices at about 1220 dinars a difference of 54 dinars.

It was expected by the bank's decision to drop the sales of the dollar in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last, and ratified by the Presidency of the Republic in 10 of this February.

The Act provided that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days of the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the Atar.anthy 2

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Iraqi low price of gold and modify the laws of the banks leading economic newspapers headlines for Wednesday

 

History of edits:: 11.03.2015 1:12 p.m. • 25 visits readable

story_img_550015253eb38.jpg

{Baghdad: Euphrates News} newspapers picked up on Monday a number of economic headlines, which varied between falling gold prices and the promotion of productive sectors and modify banks and addresses of other laws ... 

Morning 
advancement sectors productivity pillar of durability economy Justice low Iraqi gold price up to {190} thousand per weight of water resources discussing the investment plan and operational plan for the current year long stock market: Trading decline due to increased capital of banks without investment Brent falls to {57} dollars due to high dollar and increase the supply of the new morning launch treasury bonds worth {12} billion dollars to pay dues oil companies time parliamentary power confirm delivery Kurdistan {90} percent of the oil deal Center Orient strategy to modify banks laws Plan parliamentary financial attributes the causes of the economic recession on the nature of the budget .. Iraq plans to open new markets for international companies to invest

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Conscious / appearance of Mohammed Saleh: the banking system in Iraq, the problems and needs to be adjusted

11/03/2015 09:43 | Number of Views: 21
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Conscious / Baghdad / MA

Said Advisor to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, said that the banking system in Iraq needs to be adjusted and new legislation to him.

Said Saleh (news agency, media / INA) that "the failure of the banking system, problems and suspicions of corruption and needs to be revised in the legislation."

He pointed out that "Islamic banking is still without law."

He also called for government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system."

The central bank has begun to apply the new system of remittances and sell the currency.

According to a source familiar with the bank to "cover the need banking offices, community and government banks of currencies will be through money orders only," adding that "this decision is not contrary to what was stated by the budget bill for 2015 identifying the auction amounts to 75 million dollars."

The source indicated that "the move is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction."

The Central Bank of Iraq sells in previous years, sums up to billions of dollars a month, but decreased significantly in the past few weeks where he sold more than $ 2.8 billion in the month of January last.

It is said that the bank was selling the dollar on the price of 1166 Iraqi dinars to the dollar, which is sold in markets and banking offices at about 1220 dinars a difference of 54 dinars.

It was expected by the bank's decision to drop the sales of the dollar in the auction for this year, according to the law of the state budget, which began in Parliament on 29 January last, and ratified by the Presidency of the Republic in 10 of this February.

The Act provided that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days of the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.

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  • 3 weeks later...

Prime Minister's Advisor / Iraq Press /: Amendment of private banks to the banking law development

cccoooqqq.jpg

BAGHDAD - Iraq Press - April 1: The Iraqi government unveiled a modified civil law known as commercial banks and banking law to the development of banking law.

 

Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, L / Iraq Press / "The private banks Law No. 94, said for the year 2004 a good law does not exist in paragraphs any mention, but the parliamentary finance committee has proposed to amend the law within the developments that have taken place during the last ten years that have passed problems legislation on the current law. "

 

The benefit of "Accordingly, the amendment will include Article 28 of Law No. 94 of 2004, which requires private banks or the so-called commercial banking law to own shares in the creation of an airline or owning farmland or industrial," he said, adding that there is "a new law is work on it with respect to banks, which the government of the Islamic Banking Act and expressed great optimism on the draft law, which was written by international experts under the supervision of the economy by the World Bank as his. "

 

 "The Islamic Banking Act (Modern Banking Act) totally depends on the profit and loss and Halal and Haram and that in case the vote will monitor him about 250 billion dinars," adding that "Islamic banks will give impetus to the advancement of the banking sector Mikhalq flown competitive interbank Iraqi as well as it will help to accelerate investment growth through the encouragement to work and reconstruction and speculative stocks. " Admiral ended

 

 
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