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Haitham al-Jubouri, announce the formation of sub-finance committee to prepare the body for the formation of the Deposit Insurance Law
4/21/15
Alsumaria News / Babylon
Announced the parliamentary finance committee member Haitham al-Jubouri , Sunday, formation of a committee branched from his committee to begin its mission to prepare a proposed law to form a body to guarantee deposits, pointing out that the emergence of the body would be a "big jump" in banking transactions.
Jubouri said in an interview with Alsumaria News , "It has been the formation of a subcommittee of the Finance Committee in the Iraqi Council of Representatives to begin preparing a proposed law to form a body to guarantee deposits."
Jubouri said that "the emergence of a body would be a big leap banking transactions including deposits and guarantees of capital companies and citizens."
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Iraqi banks and lacks a law guaranteeing the right of depositors in maintaining deposits, which calls for businesses and citizens to hesitate to deposit money and precious metals with Iraqi banks.
A source in the Ministry of Finance revealed, in (January 12, 2015), for a single government banks managers fractured deposits Iraq financial abroad and given to businessmen without formal guarantees, adding that the move caused a strike against the Iraqi economy.
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