PARLIAMENTARY FINANCE: ACTIVATION OF THE FUNDS IN THE BANKING ACT SOON
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) – a member of the parliamentary finance committee Jabbar Abdul Khaliq said that funds deposited in the Banking Act will begin soon after the completion of Sitagh some paragraphs in line with the government’s economic direction.
He said Abdul Khaliq’s (IMN) “This law will protect the citizen’s money from being lost, where would compensate citizens in the event of the loss of National Bank deposited with him this money, as well as the arrest of the bank manager and held accountable legally and his prosecution,” adding that “in the past, the court only by virtue of the bank manager and his detention without compensation from the owner of the money deposited, as previously happened in some private banks.”
He explained that “the government is now moving to support investment projects, and coordination and cooperation with the State-owned banks to support it, and the development of economic projects in the country, as well as the granting of soft loans to the owners of small and medium enterprises, which will contribute to the operation of labor and support the private sector.”
He recommended the Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh earlier, the central bank to continue its program to finance small and medium projects for citizens loans and lending again after recovery, to stimulate the economic cycle, pointing out that this program can promise nucleus to establish a permanent fund for the development or the development of the contributing organizations Bank International future.