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Conscious / Central Bank decides to expedite legislation Deposit Insurance Act
01/02/2015 08:41
Conscious / Baghdad / FS
Decided to CBI, on Sunday, accelerating legislation Deposit Insurance Act.
A statement by the Central Bank received (news agency, media / INA) a copy of it, in line with the central bank tasks and responsibility in supporting the development and stimulate the Iraqi economy, the bank took a number of decisions, which is to approve the appointment of a representative of the private banks in the Central Bank and the approval of the the central bank to cover bank accounts abroad to the US dollar to cover imports of customers and for other purposes without the need to pass a window sell the currency at the Central Bank of Iraq and assume control over these operations the bank within the mechanism of a simplified and transparent with the preparation of the creation of capacities and capabilities plan to activate documentary credits instead of the current style and coordination with banks in this regard. "
The statement added, "The decisions also expedite legislation Deposit Insurance Act, and recommend to the government to accept the state's institutions of instruments issued by private banks as well as the receipt of taxes and fees in favor of the government, as well as the formation of a committee to reconsider the structure of benefits, including expanding the credit and liquidity provision."
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01/02/2015 08:41
Conscious / Baghdad / FS
Decided to CBI, on Sunday, accelerating legislation Deposit Insurance Act.
A statement by the Central Bank received (news agency, media / INA) a copy of it, in line with the central bank tasks and responsibility in supporting the development and stimulate the Iraqi economy, the bank took a number of decisions, which is to approve the appointment of a representative of the private banks in the Central Bank and the approval of the the central bank to cover bank accounts abroad to the US dollar to cover imports of customers and for other purposes without the need to pass a window sell the currency at the Central Bank of Iraq and assume control over these operations the bank within the mechanism of a simplified and transparent with the preparation of the creation of capacities and capabilities plan to activate documentary credits instead of the current style and coordination with banks in this regard. "
The statement added, "The decisions also expedite legislation Deposit Insurance Act, and recommend to the government to accept the state's institutions of instruments issued by private banks as well as the receipt of taxes and fees in favor of the government, as well as the formation of a committee to reconsider the structure of benefits, including expanding the credit and liquidity provision."
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