Economist rules out need for separate body to oversee Iraqi banks. Says, CBI and Federation of Iraqi Banks already established

Posted by on Oct 23, 2013 | Leave a Comment

 

Baghdad (newsletter). Competent in Economic Affairs ruled out Dergham Mohamed Ali, an independent body of banks, adding that the Central Bank is the sponsor of the banks that are open to the general lines of the banks.

He Mehmet Ali (News Agency): the Central Bank is monitoring the performance of banks and depositors ‘ funds through continuous monitoring of progress, as well as policy makers, interest and nature of credit and compulsory reserve value to the Bank for deposit.

He said: the establishment of a body established by banks all over the world, noting that it is a positive step that banks must have autonomy in its policy.

And: there are bodies such as the Federation of Iraqi banks and bodies of civil society organizations working group and support common policies for banks to develop their studies but not on her decision.

The parliamentary Finance Committee demanded the establishment of an independent special administrative Iraqi banks are isolated from the Central Bank to support and development of the banking sector in the country

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