New Rules of Procedure for the Association of Banks
|July 8, 2014||Filled under Iraqi Banking News|
Iraqi Banking News –
The Commission found emanating from the General Authority of the Association of private banks in Iraq, written for the draft new rules of procedure of the Association after mandated by the General Assembly is expected to hold a meeting Estnaúa for discussion and approval. Announced that authoritative source in the Commission said it has completed a new version of the system in the hope of presented to the public for discussion and approval.
Source pointed out that the Commission deems modified the rules of procedure for the conviction of the importance of that is in line with the requirements of the new phase and in order to meet the need of banks to a strong bond contribute to the maintenance of the rights of the banking sector and then work on the unification of efforts by working fruitful and constructive in what between banks and to meet the requirements of development.
Explained that the rules of procedure new look will enhance the objectives of the Association and to expand the powers of those who made it and what makes it able to be a haven for banks and coordinated between monetary and fiscal authorities and to enhance the goal of cooperation in addressing the challenges faced by the capital market, and the Association seeking to apply the provisions of the Rules and procedures the central bank aims to maintain the stability of the money market to their importance in achieving economic stability.
The source noted that the move comes after being hit by private banks in Iraq to accusations are untrue by her statements to the media of views had nothing to do and it is the owners of Jurisdiction, including damaged the reputation of the Iraqi banks to enable the Association of the appropriate response in the media or, if necessary, legally.
Concluded to to say that the Association has achieved successes at both the exterior and interior and has a special assessment by the Department of organizations in the Council of Ministers and that the new system comes to complement its role in strengthening the national economy through its service to the banking sector.
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