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Banks in the government curriculum

rocky
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Banks in the government curriculum Empty Banks in the government curriculum

Post by rocky on Mon 20 May 2019, 3:07 pm

Banks in the government curriculum


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In the fourth axis of the government curriculum (strengthening the economy), the government's time program for the government and private banking sector was set and the policy was formulated to implement the following objectives: 
1- Developing the Iraqi banking system and enhancing citizens' confidence in it. 
2. Turning banks into their primary function of lending for development. 
3 - Banks that do not provide loans and banking facilities help in development lose their meaning as banks, which requires a specific position towards them from the Central Bank. 
4 - Banks leveraging development and the importance of the Ministry of Finance and the Central Bank to support banks and develop their functions and not rely on their presence on the currency window. 
5 - the pursuit of the transition from the paper currency economy to the economy of electronic currency and electronic withdrawal of funds outside the banking cycle and the introduction to the banking system.
All the above objectives, although the period specified for implementation according to the government timetable is 
between (1-4 years). However, the Central Bank's strategy for the years (2016-2020) has achieved the objectives of many of the objectives of the government curriculum above and set the policies and standards necessary to achieve the objectives in stages Led to the assessment and classification of banks based on the achievement of the objectives planned, there are banks are moving towards the required development and banks still need an additional period of time to achieve the objectives and there are banks are now struggling extraordinary efforts of the Central Bank and the administrations of these banks for rehabilitation. 
What matters to us here is the real role of banks in providing loans and banking facilities and moving from the role of banking to the developmental role. There are two important observations that must be taken into consideration regarding the subject of 
providing loans and banking facilities to stimulate the economy:
First: The nature of the activities of banks depends on the nature of the activities of the economic sectors, and as long as the economic activity is concentrated in the trade (imports), the activity of the banks remains focused on the external transfer and the related. So unless the other sectors (industry, agriculture, tourism, etc.) The banker. 
Without the control of imports, these sectors will not rise, which explains the lack of progress on serious loans through the initiative of the Central Bank.
Second, the legal environment should be provided and the rule of law should be extended to eliminate the phenomenon of default in the repayment of loans and hence the reluctance of banks to provide loans and facilities. The other important thing is to draw up policies to restore public confidence in banks and to take quick and programmed steps according to the objectives of the Central Bank strategy In the Iraqi banking sector to a solid and developed economic sector and complying with the international regulations, rules and standards for compliance and combating money laundering, financial reporting and risk management and thus be a catalyst for development. 
And to contribute to the revitalization of the economic cycle by activating and supporting the financing of small and medium-sized enterprises and large development projects through which the building of a strong national economy and sustainable development will ultimately serve the Iraqi people and their aspirations for a better life.  
 This means that each government or private bank has a specific plan for the four years specified in the government curriculum and under the supervision and follow-up of the central bank in the fields of development of payment systems and modern banking techniques, moving from dealing with cash to dealing with modern electronic payment methods in accordance with international standards and introducing new banking products to stimulate inclusiveness Building capacity, training and rehabilitating human resources, achieving the goal of investing in human capital, and developing the banking sector's infrastructure. As well as the banks to pay attention to the application of financial stability criteria, financial safety indicators such as capital adequacy ratio, liquidity ratio and profitability ratio as the ratio of profit and net profit to capital and rate of return on assets and rate of return on equity and the proportion of the cost of activity and financial leverage and the rate of recruitment of funds to the adoption of indicators to measure the efficiency the performance .


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