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(00:01 pm) - The number of readings: 73 - Issue (2821)
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Parliamentary committee calls for amending the Banking Act in accordance with the policy of the free market
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Parliamentary committee calls for amending the Banking Act in accordance with the policy of the free market
Baghdad / follow-term According to a member of the Finance Committee Abdul Hussain al-Yasiri, important amendments to the Banking Act, especially Article (28) according to the policy of a free market economy to support the Iraqi private sector in carrying member of the Committee of Economy and Investment Jassim Mohammed private banks and banking companies responsible for the low exchange rate of the dinar against dollar. Yasiri said in press statements that support the private sector and the advancement of the process of investment you need to make amendments to some important laws that have been legislation previously in the House, including the law (banks, companies and investment and tax), format compatible with the policy of free market economy. added: that the sector your must take leading role in Iraq to promote the growth of the Iraqi economy, pointing out that the Constitution allowed in Article (25) to give an important role for the private sector in the promotion of the country's economy. pointed out that Article 28 of the Banking Act do not help to support the private sector and investment in the country, they need to be modified to boost investment in Iraq. Meanwhile carrying member of the Committee of Economy and Investment Jassim Mohammed some private banks and banking companies responsible for the low exchange rate of the dinar against the dollar due to the sale of part of hard currency for citizens at the official rate, while quantities many are sold to black markets . said شنكالي in a press statement that the price of the dollar at the Central Bank (1166) dinars, and sold to banks and companies approved price (1179) dinars, and the banks in turn sell them at a price (1189) dinars to citizens. explained that some banks sell a fraction of the dollar to the citizens at a price ( 1189) dinars, while large quantities they sell to the black market and at commercial rates which led to the increase in the dollar exchange rate in the local market. added: that the committees of Economy and Finance النيابيتين suggested the central bank to distribute part of the employees' salaries in dollars for a period of at least three months at the official rate of the dollar, in order to reduce the value of the dollar and support the Iraqi dinar exchange rate, but some of the people from decision-makers taking advantage of the current situation experienced by the Iraqi dinar. This is due to begin banks eligibility reduced selling prices of the dollar to the citizens at 1183 dinars, specific sales price for the purposes of the appropriations to 1178 dinars.
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Last edited by oogie on Tue Jun 18, 2013 8:18 pm; edited 1 time in total (Reason for editing : font size)
