On: Sat 21/01/2012 18:59
BAGHDAD - A citizen board chairman Economy Bank Husam Obeid importance remove Iraq from Chapter VII as a grant to the Iraqi banks to deal with the international banks. Obaid said in a statement quoted (newsletter) that Iraq is still bound to item VII of the United Nations has an effect on the work of banks Iraqi being given a bad reputation in its external and international, causing thus rejected international banks to deal with Iraqi banks. The slaves to remove Iraq from Chapter VII is very important because it gives freedom to deal with international banks, particularly the States represented the UN Security Council, calling for a move to lift for the advancement of the Iraqi economy and develop the work of Iraqi banks. He added, when his seventh item on Iraq would serve the government banks primarily the basis that most private banks do not have sufficient means to reach deal with international banks. The President of the Board of Directors of Bank of the economy that the United Nations established in the the siege imposed on Iraq Bank of Iraq 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 room for departure for the international banks, muses of the existing financial management to take the previous administration and cons reflected in the service of Iraqi banks that provide a public service of the country. The Iraq when the economic blockade imposed on him in the nineties of the last century, was placed under Chapter VII of the UN, making it restricted his actions and financial transactions with the State.
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