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Deputy Chairman of the Finance Committee MP Ahmad Faizullah, the importance of the legislation of a special law for the protection of deposits in Iraqi banks for the purpose of encouraging people to save their money in banks. Faizullah said that most countries in the world attach great importance to how to attract deposits to local banks in terms of laws and protected controls and determine the proportion of profits. He added: the banks need to legislate to protect deposits to enhance the confidence of the citizen and cause them to bid farewell to their money in banks and governmental capacity, and will enhance the possibility of commercial banks and their contribution to the country's development projects. The Association of private banks that proportion of deposits in State banks ranging from 65 to 68 trillion dinars, of which only 22 trillion dinar deposits in private banks. And Iraq's banking system consists of forty-three banks as well as the Central Bank and distributed by property (7) and banks (30) my family including Bank (7) Islamic banks to foreign banks (6)
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