Prime Bank Economics: conflicting decisions of the Central Bank and the financial impediment to the private banks
BAGHDAD / Conference
The Chairman of the Board of Directors of Bank of the economy Husam Obeid to the existence of conflicting decisions issued by the Ministry of Finance and the Central Bank, which hinders the work of banks in Iraq.
Ebeid said (of the Agency news) on Monday: The most important obstacles that stand in front of the work of Iraqi banks is the inconsistency of decisions and instructions issued by the Central Bank and the Ministry of Finance, through the issuance of a decision by the Ministry of Finance not to deal with private banks because they are not disciplined, and the Central Bank underlines the need to deal with it. and demanded: Ministry of Finance to back down on its decision not to deal with private banks. He pointed to: that violation of (10) private banks to the instructions of the Ministry of Oil, does not mean that all private banks, amounting to (40) bank is disciplined and contrary to the law of her, calling, not to generalize from the Ministry of Finance to all private banks in Iraq, not to deal with it. He added there are some Boards of Management of the domestic banks abused the work of Iraqi banks through its failure to banking laws and established by the Ministry of Finance and the Central Bank, and there are other banks committed to regulations and banking regulations imposed on them, calling to determine the banks of the violation in order to deal with it in order to serve the country and the Iraqi economy. The The Economy Bank for Investment and funding is from private banks private, which was founded in (1997), and has (50) branches in all governorates of Iraq, and seeks to deal with international banks, and open branches in Iraq outside.