Economic Commission: out of Chapter VII would give greater freedom to the Iraqi banks

POST 26 JUNE / JUNE 2013 08:30

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - According to the parliamentary economic committee, on Wednesday, to remove Iraq from Chapter VII and entry in Chapter VI will create greater freedom for the Iraqi banking sector to deal with international companies and banks.

A member of the Committee, Abdul Abbas Xiaa the (IMN) that "Iraq out of Chapter VII, will give him greater freedom for the Iraqi banks to open accounts and global banking transactions more spacious."

And added Xiaa, "The international banks will have an extensive presence within the Iraqi banking sector through a partnership with Iraqi banks."

He explained that "the banking deal will be much easier after the withdrawal of Iraq from Chapter VII."

And looking forward to the Member States in the Security Council on Thursday to listen to the report of UN Secretary-General Ban Ki-moon and vote on Iraq out of Chapter VII, which lasted more than 23 years, have limited its role regionally and globally.

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