Deputy Calls For A Legal Amendment Of The Central Bank And Banks
| June 8, 2012 | Filled under Other News |
Vice-President of the Finance Committee Ahmed Hassan Faizullah, the need to amend the Central Bank and banks, because of the contradiction with the Penal Code. Faizullah said most Iraqi laws legislated need for the amendments that it interferes with other laws and the great imbalance and some paragraphs do not serve the interest of the country.
He added that the Central Bank Law No. (56) Of the year (2004) and the Banking Law No. (94) For the year (2004) contrary to the Penal Code No. (111) of the year (1969) rate, in addition to the translation of the law were not legal and sober translations, what makes a reluctance to reduce the smuggling of foreign exchange and other non-legal.
He pointed that the amendment of these laws will help the central bank to develop the financial sector and reduce the suffering of Iraqi citizens through the introduction of modern methods; in addition to that it does not allow speculators to transfer huge amounts of money outside the country illegally.
*
*
*
*
*
Related Iraqi Dinar Articles-
Iraqi Dinar: Scam or God-Send?
Iraq Dinar Value Seems Likely To Significantly Increase
The Recent Iraq 2011 Budget May Have Leaked the Coming Currency Revaluation
Buy New Iraqi Dinars and Put Them in a Drawer
Iraqi Dinar Trade – What Next After the Revaluation?
Investing in Iraq- What Investors Have Been Waiting For
Central Bank: Raise Zeros From the Currency Gurenaf
Recent Comments