A proposal for a law on foreign transfers
18/9/2016 12:00 am
Banking expert called Dr Issam Mohammed to legislate or adopt a special law on foreign remittances to reduce hard currency out of Iraq without much real returns contribute towards development of the national economy.
Muhammad said to "morning" that such a law after studying it thoroughly would lay the foundations of real banking, indicating that the Central Bank's dollar sales window allowed a number of banks to make profits as a result of remittances and allotments, causing reluctance to achieve economic and social role in the development process.
He stressed that the enactment of external conversion would contribute greatly to reduce the mess without familiar economy it will reflect positively on the citizen by enhancing opportunities for obtaining loans for productive projects of industrial workshops And others.
He stressed the importance of employing the proceeds of oil dollars through development programs and other Government and private banks owned loan under the supervision of the Central Bank was launching loans or advances to widows and young people and the rest of the categories that can be productive to promote family economy.