Saturday 21/01/2012Prime Bank Economics: lifting the seventh item on Iraq would give the Iraqi banks to deal with the international banks
Baghdad, Chairman of the General Economy Bank Husam Obeid on the importance of removing Iraq from Chapter VII as a grant to the Iraqi banks to deal with the international banks.
Obaid said in a statement to the Agency (news) on Saturday: that Iraq is still bound in the seventh item by the United Nations, which impact on the work of Iraqi banks being given a bad reputation in its external and international, which led to the refusal of international banks to deal with Iraqi banks.
and Ebeid pointed to: that out of Chapter VII is very important because it gives freedom to deal with international banks, particularly the States represented the UN Security Council, He called to move towards lifting for the Advancement of the Iraqi economy and develop the work of Iraqi banks.
However, in saying: When raising the seventh item on Iraq would serve the government banks primarily the basis that most private banks do not have sufficient means to reach a deal with international banks.
The Chairman of the Board of Directors of the Bank the economy: that the United Nations established in the siege imposed on Iraq Bank, Iraq to trade for the purpose of assisting the Iraqi economy and stimulate bank in Iraq, expressing his deep regret that the departments previous banking did not provide any service for private banks through the Bank of Iraq trade, but they fought the private banks did not give her space for the launch of some international banks, muses of the existing financial management to take cons of the previous administration and are reflected in the service of Iraqi banks that provide a public service of the country.
The Iraq when he is obliged to the economic blockade in the nineties of the last century, was placed under Chapter VII of the pre- United Nations, making it restricted his actions and financial transactions with foreign affairs.
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