Specialists: Legislation and modern technology a necessity for the development of banking

Posted by on Oct 28, 2013 | Leave a Comment

09/30/2013 12:00 AM

In order to create a banking sector advanced
discuss a number of bankers on the second day of the conference, the Iraqi banking the first ways to improve reality of banking, particularly with regard to legislation governing the functioning of commercial banks, Islamic and propose remedies needed to address the determinants of development, especially after he expressed his head

Minister ready to support the banking sector legislatively and administratively.

executive director of the Association of private banks in Iraq Abdul Azizi Goldfinch said: that the conference is the first of its kind in the country to address the determinants of development banking in the country and create an ideal environment contribute to the transfer of technology advanced banking to provide better services to the public beneficiaries, especially as the Prime Minister in his speech, which was read on behalf of a promise to adopt the proposals issued by the conference and contribute to overcoming the obstacles to development banking.

said: that the private banking sector needs to be justice in the application of the laws, regulations and instructions, and to oblige the government banks using the systems of modern banking for the purpose of compatibility with systems, clearing and payments administered by the Central Bank of Iraq, as well as forcing private banks adopting in its work.

Charter professional and pointed to the importance of a charter professional inter-bank public and private under the supervision of the Central Bank of Iraq and the formation of a coordination committee a permanent follow-up flow of transactions among the parties to the banking system , pointing to the importance of putting an end by the powers of financial and monetary and other authorities of the smear campaign that exposed the Iraqi banking system, which greatly affected the reputation and led to a shake confidence in him, as well as to stop waving procedures punitive and boycott by government banks to banks Private.

Hassoun pointed out that the Iraqi banking system differs from Mthilath in neighboring countries, as it consists of banks owned by the government and other private sector, and despite the fact that this difference extends to the decades-long but the economic developments and policy in Iraq influenced clearly the reality of the banking business , indicating that the authorities owning banks government increased extremism in dealing with private banks to reach interrupt routines and is another much overall banking performance in Iraq after he was ignored this device but it is a single entity is not valid and can not be seen Kmqata or parts.

He emphasized that excellence in monitoring and supervision of the banks must be completed in order to upright banking transactions smoothly necessary in between all banks. Especially as the number of banks exceed fifty Currently, 43 of them private and seven government-owned, and include the number of private banks, branches of foreign banks and foreign Arab and the 11. And has exceeded the number of branches of these banks (500) and the number of employees of the (11) thousand employees. international applications either Tawfiq Murtaza director of one Arab banks operating in Iraq, said the conference as a good step to draw a roadmap for the growth of the Iraqi banks and contribute in bringing the prospects of cooperation between private banks and the government, pointing out that the meetings bankers with legislative bodies is extremely important because it contributes to discuss legislation that would promote the banks and allow them to exercise Activity wider than it is now.

said: We كمصارف foreign entered into the labor market of the Iraqi banking found Some things are banking a bit far for international applications International, stressing that our presence to the conference comes to draw the attention of those who on the banking sector mechanisms to contain the determinants of development banking, which represents the most important elements of economic advancement destruction. value of the dinar while said Director General of Statistics and Research and Walid Idi Abdul Prophet that the successes of monetary policy the current embodied in the long-term stability in the value of the Iraqi dinar, as well as the decline in the inflation rate basis to 5.6 percent in 2012 as well as building reserves, strong foreign currency promised Dolly the value of the Iraqi currency, integrity and protection of the balance of payments of the external shocks and this basis, it has achieved the economic program of the Government of success a distinct part of what played by monetary policy in achieving its goals and as stipulated by the law of the CBI.

comprehensive development and stressed the competent بالصيرفة Islamic Sadiq Rashid on the importance of supporting Islamic banks by governments issued laws and regulations suited to its banking and especially the law of Islamic banks and this is what makes spread wider and more attractive and stable, and promote cooperation among Islamic banks and central banks, with the need to be there independence and clear of monetary policy of the central bank by finding a pattern of regulatory conformity with the nature of the work of Islamic banks because they are subject to the Sanitary control of banks Commercial applied by the central bank and especially with regard to reserve the legal and the discount rate, and ceilings of credit and open market operations and debt securities and lender of last resort.

determinants of development and on the question (morning) about the importance of the conference chairman said Bank of Assyria, commercial and Wadih Handal: that the organization of the first forum banker specialist discusses the mechanisms for the advancement of banking in all cases, something positive will come to that offer banking services to the public beneficiaries. He noted that the proposals launched by the bankers are many in this conference, which meets in which public and private sectors and in the presence destinations legislative formed a real idea about the obstacles that limit the development bank, which will hopefully be addressed through cooperation between the public and private sectors. , and pointed out that the banking sector needs to support the mechanics of his work by allowing him snapped a wider role in the process of investment and development, pointing out that this trend needs to be a legislative amendment allows an investment of monetary mass in private banks in portfolios different investment holds many positives to the local economy, which will contain problems of unemployment and the development of services and rotate the wheel of production and many positives.

banking, investment banking expert Samir النصيري said: that the banking sector Corner fundamental pillars of the pillars of a free economy, which supports government policies and push them towards the process of economic growth if the bases in the construction of this sector strong and solid and based on planning scientific and replete with competence and experience and confidence, especially if managed this sector that contributes to the development plans and investment at the level of construction and economic growth., and pointed out that the banks and investment pillars متلازمتان for making the process of growth and development on a sustainable basis, especially as the banking sector is a vicious financing the first and main for investment activities and that the current stage require today more than ever before to open the way for banks to work with ease and efficiency to contribute to the investment support for It’s nerve President for growth, evolution and development.

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