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Deputy calls for banks to re-examine the law
2015/05/05 12:56
Tomorrow Press / Dhi Qar: called MP for the Virtue Party in the House of Representatives, Ola Nashi, Tuesday, to reconsider banks by law, stating that Article 28 of the Banking Act rob private banks management of the market and investment. said Nashi's "Tomorrow's Press," he "requires reconsideration of banks Law No. 94 of 2004, which was approved by the Civil Authority, headed by Paul Bremer, after the fall of the former regime," asserting that "business and Alsnaaan complained about the accumulation of funds in banks without their contribution to economic development." She added that "Article 28 of the Law rob private banks management of the market and investment, "adding that" the repeal will contribute to supporting the private sector, as well as the revitalization of competition in capital management to revitalize the Iraqi economy. " She pointed to "the need to put controls and limitations of legal control over money laundering, and in coordination with the Iraqi Bank Central Interior and the Federal Ministry. " It is noteworthy that Article 28, of the Banking Act, states that "does not exercise any bank involved as an agent or partner or joint owner in trade wholesale or piecemeal or in manufacturing processes or transportation or agriculture or fisheries or mining or building to ensure that insurance or other business activities. "
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