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Magda Tamimi: keep important central bank deposits

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Magda Tamimi: keep important central bank deposits

2016-10-07 22:05
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Baghdad/Morrow press:


Magda parliamentary Finance Committee member confirmed Tamimi, that maintain deposits of citizens is the task of the Central Bank, calling the pursuit of deposit guarantee Corporation Act legislation.

The Committee Member said in a statement for "tomorrow", "maintain deposits of my qualities that should characterize any bank whether governmental or parents but recently a conflict about the citizens ' deposits are missing when."

Tamimi said that "maintaining deposits is the task of the Central Bank should try to preserve it in a way that befits the Bank and prestige of the Iraqi banking sector, stating that" loss of deposits and loss and delay payment to a big loss in this sector will be reflected in the overall financial situation.

Tamimi confirmed that the Government decided to establish a company to insure deposits that remain when the State Council which is supposed to up its Parliament to legislate and befriends him, however, the law seems born dead, although it faces consequences going to solve a lot of problems including problems maintaining deposits."

It was demonstrated on Thursday, a number of citizens in front of the Central Bank to demand the restoration of the Dar es Salaam bank deposits, the Central Bank said in turn approved the formation of a Committee to oversee the distribution of deposits to citizens of legal reserves for that Bank.

The Central Bank announced Tuesday (7 June 2016) for setting up a company to insure deposits in Government and private banks with capital of 100 billion Iraqi dinars, the goal of the Foundation is to stimulate citizens to deposit their money in banks rather than its collection, explained the money stashed away for citizens outside the banks of more than 30 trillion dinars.

The Association of banks announced in ist (October 2015) the ratio of deposits banks ranging from 65 to 68 trillion dinars, including 22 trillion dinar deposits of private banks.

Iraq's banking system consists of (54) a Bank as well as the Central Bank and distributed by ownership (7) and banks (23) special trading banks, including Islamic banks (9) plus (15) branches of foreign banks.

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