A New Work Program for the Iraqi Banking Sector to Adopt International Standards
|August 3, 2014||Filled under Iraqi Banking News|
Iraqi Banking News –
Efforts to strengthen international confidence in Iraqi banks
The chairman Ashur International Bank to modify the rules of procedure of the Association of private banks in Iraq reflects the passion and vision for the banks in need of dealing with transitions global banking according to the contexts in place in developed countries.
Said Chairman of the Board and Wadih Handal in statement the “morning” on the sidelines of the extraordinary meeting of the general assembly of the Association and enhance its ability to meet the challenges in building a strong economy and modern contributes to the achievement of sustainable development and enhances global confidence in the credibility of the Iraqi banking sector private.
Handal noted that the new rules of procedure allows for the Association of opportunities opening up more the banking institution central of the Central Bank of Iraq and the strengthening of the relationship with them so as to ensure monetary policy successful distance market money lapses and mistakes and protect the banks from slipping in the maze of mistakes.
And expressed his confidence that the new administrative board, which was elected for the General Assembly meeting of the Association and in the light of the amendments to the Rules of Procedure of the Association will their duties and the dictates of the next phase of the functions and duties is the responsibility of the banking sector, implementation, according to the program of the new government expected formed to unify the goal and vision.
And expressed his thanks to the departments of banks that have adopted the practice of transparency, which took place at the General Assembly meeting stressing the desire of the Iraqi banks to adhere to international standards of banking challenge of money laundering and other malpractices, calling on private banks to circumvent the new administrative board for its support and enable them to achieve the goals and interests of the banks.
Was the General Authority for Banks Association has held an extraordinary meeting was the modified rules of procedure of the Association, and elected administrative body of the Association resulted in the victory 11 banks in the membership of the body and 9 banks Genuine banks reserves.
And he had said the election was characterized by interventions and inquiries directors authorized representatives of the banks involved and those who put their mark in the new rules of procedure in accordance with the interests of their banks and service economy of the country in the presence of a retired judge, Saleh al-Jubouri and Advocate Legal Association Mohammed Kadoorie and Advocate Legal Department organizations in his personal capacity, Basil al-Moussawi.
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