Economist calls for amending the Central Bank Law in Iraq

13/04/2010 10:15

Baghdad, April 13 (Akaniwz) - The economic expert in the outgoing government, the Central Bank Law that the law "invalid" to revive the economic reality of Iraq.

Ali Damluji told Kurdistan News (Akaniwz) "The Iraqi Council of Representatives is next on the task of law reform Dharoip a central bank, which is characterized by routine senior management as well as a significant financial advantages in the financial markets."

He added that "the coming stage will witness economic growth requires a number of legal amendments, particularly with regard to the Central Bank Law, which imposes 25% of the benefits of projects in addition to lending it prevents the government to support the financial budget of the cash reserves."

He pointed out that "This is routine procedure and complications pressing will contribute to the reluctance of investors to participate in the rebuilding of the country they confuse economic stability" .. pointing out that "the Central Bank Law, which has not undergone any significant amendments inconsistent with the investment law passed in 2006 which has not undergone any significant amendments inconsistent with the investment law passed in 2006."

Damluji said that "Iraq needs to modify the laws such as Law dolly quality control, taxation, customs and other important laws."

The Iraqi government ended their mandates had called earlier in the former parliament to make adjustments is not opposed to laws that foster investment and reconstruction in the country.

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