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Posted: August 26, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics
Tags: Baghdad, Central Bank of Iraq, Commercial
Baghdad, August 26 / August (Rn) – The economic adviser in the Iraqi government, the Council of Ministers on Friday that the development of new mechanisms to facilitate the opening letters of credit for less than $ 4 million through the revitalization of the role of private banks, which aims to stimulate trade in the country.
Facing global companies, apply for work in Iraq, the problem of delay in opening bank credit being specific to the specialized government banks.
The Economic Adviser in the Iraqi government peace Qureshi, told the Kurdish news agency (Rn) that “the Iraqi government developed a new financial mechanisms focus on the continuous coordination between the Ministry of Finance and the Commercial Bank and the Central Bank.”
He explained that “new mechanisms focus on the powers granted to private banks with capital to open a prestigious bank credit that does not exceed $ 4 million, which contribute to accelerate the completion of commercial projects and services in the country.”
The Central Bank of Iraq at the beginning of July that 20 private banks began to work according to the electronic clearing system, stressing that there were efforts to introduce government banks in this system.
The Quraishi that “the Iraqi government moving toward granting private banks broad powers are balanced with the powers of government banks and that you open bank credit.”
The Ministry of Finance of Iraq for its efforts over the next year to develop an integrated plan to develop e-government banks and financial relations in the activation of this aspect.
The Iraqi government is still limited in its financial transactions on the banks approved by the government by 85%.
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Tags: Baghdad, Central Bank of Iraq, Commercial
Baghdad, August 26 / August (Rn) – The economic adviser in the Iraqi government, the Council of Ministers on Friday that the development of new mechanisms to facilitate the opening letters of credit for less than $ 4 million through the revitalization of the role of private banks, which aims to stimulate trade in the country.
Facing global companies, apply for work in Iraq, the problem of delay in opening bank credit being specific to the specialized government banks.
The Economic Adviser in the Iraqi government peace Qureshi, told the Kurdish news agency (Rn) that “the Iraqi government developed a new financial mechanisms focus on the continuous coordination between the Ministry of Finance and the Commercial Bank and the Central Bank.”
He explained that “new mechanisms focus on the powers granted to private banks with capital to open a prestigious bank credit that does not exceed $ 4 million, which contribute to accelerate the completion of commercial projects and services in the country.”
The Central Bank of Iraq at the beginning of July that 20 private banks began to work according to the electronic clearing system, stressing that there were efforts to introduce government banks in this system.
The Quraishi that “the Iraqi government moving toward granting private banks broad powers are balanced with the powers of government banks and that you open bank credit.”
The Ministry of Finance of Iraq for its efforts over the next year to develop an integrated plan to develop e-government banks and financial relations in the activation of this aspect.
The Iraqi government is still limited in its financial transactions on the banks approved by the government by 85%.
[You must be registered and logged in to see this link.]
