March 19 / March 2015
Discussed by the Committee on Economic Affairs, headed by Deputy Prime Minister Ruz Nuri Shaways, civil support private banks and market-oriented economy and contribute to the process of increasing the proportion of total gross domestic product through the support of the private sector.
A statement of the Commission "light News" received a copy of it today, that "the Committee discussed at its eighth eligibility private banks support because of their role in the reconstruction and development of the country and in order to give these banks a wider area in the economic transition and orientation process toward a market economy and contribute to the process increase GDP ratio by supporting private sector activity. "
The Committee appreciated, according to the statement, the role of the Central Bank of Iraq and the Iraqi Trade Bank in support of those banks and the fact that economic conditions experienced by the country currently requires providing more support to those banks. "
The Commission has taken a number of decisions which "(the Central Bank of Iraq and the Iraqi Trade Bank to provide liquidity eligibility for banks discreet that suffer from a lack of liquidity as a result of the faltering customers to pay their dues to those banks in return for those banks to provide guarantees and bank bailouts acceptable to both sides)."
The Committee also discussed the subject of banking policy pursued by the Trade Bank of Iraq, particularly the issue of lending to the Kurdistan Regional Government and the Central Bank of Iraq in the region as the Commission found as banking operations of a financial professional and there is no loan granted from the Trade Bank of Iraq to the two mentioned.
The Committee emphasized, according to the statement, that "the bank in light of the large financial potential, it continues to finance its activities all to regaining its high confidence being the main financier of trade government sector", and as she noted that it is imperative that the State and the Council of Representatives of Iraq to take responsibility not to allow the promotion of rumors affecting financial reputation and status among global banks, "stressed the need for "TBI accounts and sends audited statements of Finance to the relevant authorities in accordance with the principles of disclosure and transparency."
The Committee consists of the Deputy Prime Minister example, has typically Nuri Shaways president and the membership of the financial, oil and planning, trade and industry, minerals, agriculture, Deputy Governor of the Central Bank of Iraq and Deputy Secretary General of the Council of Ministers and Advisor to the Prime Minister for Economic Affairs and head of the legal department in the Office of the Prime Minister and Chairman of the parliamentary finance committee and a member of the Committee of Ministers of Economy and Investment and head of the parliamentary board of advisers and Adviser to the Prime Minister for Economic Affairs and the Director General of the Iraqi Central Bank branch in Erbil and Director General of Trade Bank of Iraq. "
[You must be registered and logged in to see this link.]