The specifics of the banking regulation and supervision model in Iraq and its transformation under the influence of the Basel requirements

Today it is difficult to imagine modern life without banks. Banks play an important role not only in the lives of individuals, but also in general, in the global economy. The efficiency of the banking system is of great economic importance. Based on this the importance of the banking system applying the rules and decisions of the Basel Committee, can ensure that the banking system can avoid the risks that can lead to entering a crisis and serious intransigence is necessary. The Iraqi banking system must comply with the decisions of the Basel Committee, both internal and external. Therefore, this article examines the specifics of the model of banking regulation and supervision in Iraq and its transformation under the influence of the requirements.