Comparing Regulation of bank provision for two countries Essay

Comparing Regulation of bank prep for two countries - Essay ExamplePart of the functions of the Central margin of Iraq, as poop be gleaned from the above, is the standard of the banking system to make sure that players abide by the rules and the law. It also serves to shape the constitution relating to the money supply, as well as occupies the role of the lender that banks and other entities can turn to when there be no other venues to source loans (Central Bank of Iraq Munro 4). The elbow room that the Iraqi Central Bank has vast powerfulness over the money supply is evidenced in recent news, for instance, relating to the bank imposing rules to make up ones mind the way banks and other entities in Iraq are able to purchase US dollars (Albawaba Business).In similar fashion, the Central Bank of the UAE is likewise founded on the basis of a founding law, passed this time around in 1960, and its powers mirror the powers that are bestowed on the Iraqi Central Bank. The founding laws are said to be based on the doctrine that the UAE Central Bank ought to be autonomous and self-functioning, and on the principle of the importance of sound fiscal policy crafted outside of the usual pressures associated with temporal politics. The independence of the Central Bank is an aspect of its independence to set monetary policy for the whole of the UAE. Moreover, as in the case of the Iraqi Central Bank, the intention of the law and of attempts to neuter the founding laws of the UAE Central Bank, is to make sure that it operates along the lines of international law and international banking standards, as can be gleaned from the Basel Committee formulations. As with the Iraqi Central Bank too, the UAE Central Bank has vast powers to regulate the members of the banking system, to impose the rules, and to make sure that players adhere to those rules. On the other hand, while the Iraqi Central Banks more than recent moves involves the restricting in foreign currency trad es, especially with the US dollar, the