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Government banks supporting the civil counterpart to the liberalization of routine
2015/05/25
Baghdad/..
Economic Affairs Committee approved the Cabinet on a series of resolutions designed to activate the work of private banks through its support by State banks to ensure smooth and easy banking for citizens and businesses and move the Iraqi economy by freeing it from constraints's routine.
According to a statement by Deputy Prime Minister روژ Nouri shawis received/information/copy "the Economic Affairs Committee held its 14th meeting on 19/5/2015 under the chairmanship of the Chairman of the Committee on Economic Affairs shawis and membership of Ministers of finance, oil, planning, trade, agriculture and the Central Bank Governor and Chairman of the national investment Commission, the Prime Minister's Advisor on Economic Affairs, the Director of the legal service of the Office of the Prime Minister."
The statement said that "the Committee discussed many topics relevant to economic and taken many decisions, including approval of granting public sector companies the option of depositing their funds and opened accounts in private banks, as well as deposit and distribution of employees ' salaries through the banks."
He noted that "the Commission announced approval of the phased placement of staff salaries and retirees to the central finance departments in private banks, taking into account the need to provide branches of these banks to ensure provision of services to beneficiaries of the system, and ensure conditions of banks in coordination with the Central Bank.
He noted that "the Committee agreed to the banks for sukuk issuance and acceptance of certification by State services and public companies, with the obligation of banks to provide sufficient balances in their accounts at the Central Bank of Iraq and the lack of detection, and the reverse bears the legal consequences, and banks have the same exposure to stop dealing with this mechanism", stating that "the Committee also agreed to approve direct State services all to accept letters of credit issued by private banks with checks and instructions issued by the Central Bank of Iraq with the approval of the Committee on Economic Affairs.
The Commission announced approval of the banker Rafidain and Rasheed to deposit part of their money in private banks for investing such funds in investment projects in accordance with feasibility studies with adequate safeguards guaranteed refundable in accordance with the conditions established by the banks after studying the financial situation of the Bank. "
The statement noted "the approval of the Trade Bank of Iraq by opening lines of credit to the private banks under the supervision of the Central Bank of Iraq, required to take adequate safeguards and adhere to the ceiling to rule (30) of the Banking Act in force".
The statement demanded that the Ministry of finance and the Central Bank applied the decision of the Committee on Economic Affairs No. s. l/495 on 18/11/2014 on opening letters of credit by banks to private (10) million dollars (10 million dollars) without going through the TBI ". end/25 j
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2015/05/25
Baghdad/..
Economic Affairs Committee approved the Cabinet on a series of resolutions designed to activate the work of private banks through its support by State banks to ensure smooth and easy banking for citizens and businesses and move the Iraqi economy by freeing it from constraints's routine.
According to a statement by Deputy Prime Minister روژ Nouri shawis received/information/copy "the Economic Affairs Committee held its 14th meeting on 19/5/2015 under the chairmanship of the Chairman of the Committee on Economic Affairs shawis and membership of Ministers of finance, oil, planning, trade, agriculture and the Central Bank Governor and Chairman of the national investment Commission, the Prime Minister's Advisor on Economic Affairs, the Director of the legal service of the Office of the Prime Minister."
The statement said that "the Committee discussed many topics relevant to economic and taken many decisions, including approval of granting public sector companies the option of depositing their funds and opened accounts in private banks, as well as deposit and distribution of employees ' salaries through the banks."
He noted that "the Commission announced approval of the phased placement of staff salaries and retirees to the central finance departments in private banks, taking into account the need to provide branches of these banks to ensure provision of services to beneficiaries of the system, and ensure conditions of banks in coordination with the Central Bank.
He noted that "the Committee agreed to the banks for sukuk issuance and acceptance of certification by State services and public companies, with the obligation of banks to provide sufficient balances in their accounts at the Central Bank of Iraq and the lack of detection, and the reverse bears the legal consequences, and banks have the same exposure to stop dealing with this mechanism", stating that "the Committee also agreed to approve direct State services all to accept letters of credit issued by private banks with checks and instructions issued by the Central Bank of Iraq with the approval of the Committee on Economic Affairs.
The Commission announced approval of the banker Rafidain and Rasheed to deposit part of their money in private banks for investing such funds in investment projects in accordance with feasibility studies with adequate safeguards guaranteed refundable in accordance with the conditions established by the banks after studying the financial situation of the Bank. "
The statement noted "the approval of the Trade Bank of Iraq by opening lines of credit to the private banks under the supervision of the Central Bank of Iraq, required to take adequate safeguards and adhere to the ceiling to rule (30) of the Banking Act in force".
The statement demanded that the Ministry of finance and the Central Bank applied the decision of the Committee on Economic Affairs No. s. l/495 on 18/11/2014 on opening letters of credit by banks to private (10) million dollars (10 million dollars) without going through the TBI ". end/25 j
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