Central Bank: Everyone in front of construction and reconstruction responsibilities

Central Bank: Everyone in front of construction and reconstruction responsibilities

10/12/2017 0:00

In the third annual conference in Baghdad

BAGHDAD / morning team

Amid a large presence of money and economics experts in the public and private sectors of the Central Bank of Iraq held its third annual conference in Baghdad under the slogan "Towards achieving financial and economic stability sustainable" in order to develop the Iraqi banking system on the path of prosperity and development, and will announce the Central Bank of Iraq for the year award 2017.

Statement by the President of the Republic were read on behalf of and focused on strengthening the financial sector and monetary policy, and the prospects of strong prosperity and development, especially after the victory over the "Daesh" terrorist, under development trends and build the future of Iraq and the social economy.

And he praised the role of the floor of the Central Bank and the efficiency and the importance of its relations to promote economic interests in conjunction with the international desire for it, and the role of partnership with global institutions and address the problems and obstacles to it, and adoption of strategic cooperation contributes to economic development. Check evolution Central Bank Governor Dr. Ali Keywords said: " The conference moment puts everyone in front of construction and reconstruction and create a sound economy responsibilities limp on the need to look forward to the national administration reflect the government 's ability to run the country efficiently through the ability to form a rational institution achieve sustainable development and the rule of law and to achieve general stability, as peace and development go hand in hand, and the adoption of the principle of equal opportunities rather than on the distribution of opportunities and the application of governance of the electronic ". Wealth Management The second pillar of the national administration, require macroeconomic management under the direction moves the real sectors is based so by activating the role of the private sector, either the last pillar is represented financial policy , which is the engine of wealth management and face financial risks, and at the time of the Ministry of Finance has achieved important measures in financial reform in front and other reforms , the most important to reduce the gap between local revenues and local expenditures ", a proposal to reduce the gap of 2.5 percent annually over the 30 - year gap would be 15 percent , as well as activating the economic sectors and reduce dependence on financial resource one." Keywords and reviewed a number of achievements that accompanied his work during the past three years and the focus of the central bank strategy on capacity - building and allocations with a view to development banks and specialized banks and keep a cash reserve size universally accepted. Development options for the Economic Affairs Committee of the Cabinet , said the Minister of Labor and Economic Affairs in his speech: "We look forward to the recommendations of the conference moved the reality of the economy and society, in our aims to build a state of social justice, as we look forward to open new development options and the strengthening of financial and monetary policies and to maximize investment capacity supportive of the labor market. " He stressed that "Ngeil industrial sector represents a demand and an objective basis for our work, and opening up to the private sector to build infrastructure industries and reducing imports and its impact on the decline in production local." Reserves of the country Finance Committee Chairman Mohammad Tamim noted that "in light of development trends recognize the important role of the central bank in monetary policy and regulate the work of banks and all the functions, and formed the central independence is an important step to achieve the goals of monetary policy to ensure that no deviation from its objectives and to maintain reserves of the country." He stressed " the importance of working to diversify domestic production by issuing legislation to diversify the economy and give a greater role to the banking sector to contribute to development." Chairman of the Committee on Economy and Investment parliamentary Ahmed Kanani said the "Congress holds great implications and we live victories and we prepare to build growth and look forward to a greater role for monetary policy." He said the "presence of experts in the conference is important for the exchange of experiences and calculated that the central conference was organized in Baghdad after he was organizing outside of the country." To achieve the development of the academic financial expert Dr. Sadik Al Shammari said: " The Almutmr comes at a perfect time after shake Iraq dust terrorism and now is looking forward to the construction and real reconstruction, which requires the banking sector stage will be the focus of success in achieving development, the conference came to be the banking system in one place discusses the requirements of the future need and access to the central march and regulations adopted by the extent of the service provided to the public, and see the future plans of the central representing the shepherd and father of the banking system. He cautioned that " the subject of financial inclusion , which I called for adopting years ago through the morning newspaper; today takes Lisa great interest Almutmr and this is a success for the banking system in terms of up services to all citizens. Check utility manager of the Bank of the South Islamic d. Ahmed Zaki Younis said the "the conference under the great victories achieved by our military sacred and mobilized the forces of darkness and end their presence can be described as significant, because we are facing a new phase of construction and reconstruction," pointing out that "the existence of such a large amount of money experts and economists lead to establishing rules of sound the national economy and the starting of the axes of fixed rules which benefit the national economy. " A precious opportunity to either the Executive Director of the Association of Iraqi private banks Ali Tariq pointed out that "developments in the private banking sector comes through the diagnosis of weaknesses and work on them, and the conference represents a valuable opportunity to work to discuss the modernization of the banking system mechanisms and make it live up to the world in providing advanced products which chime and the size of future work in Iraq. " He said the "Association of Banks closely follow the course of the banking business and has full plans to promote it through integrated training programs that create human capabilities of global efficiency, and already trained more than 2,000 employees during the current year from the public and private sectors, are fully aware that the banking sector is his new shape during the coming period and is capable of activating economic activities and support the productive sectors and service. " Monetary policy