Dry emphasizes the importance of the banking sector directed towards the launch of a special strateg

Dry emphasizes the importance of the banking sector directed towards the launch of a special strategy


10/19/2014 
MP Dry

The representative of the Iraqi private banks in the Economic Committee of the Council of Ministers Nawzad David Fattah, dry importance directed the Iraqi banking sector towards the launch of the strategy, especially taking into account the variables expected to increase ceiling oil exports during the next few years in Iraq, which would double the financial resources and Mateksh of positive results at the level of performance of economic sectors, particularly the Iraqi banks. "and stressed dry in a statement told the National Iraqi News / Nina /": the need to adopt Iraqi banks step to take advantage of financial surpluses available to it with the help and support of the Iraqi Central Bank to invest either in development projects directly or through support SME loans at subsidized interest rates Bstratejah play by the private sector and the possibilities of supporting initiatives related to the investment climate and sustain development projects, with the need to cover any structural reforms in the Iraqi economy with the support of the productive sectors and to provide possibilities of transforming the Iraqi economy from yield economy consumer economy to a production in accordance with the principle of diversification sources of national income and to avoid exposure to economic shocks may get as a result of lower global oil prices. "
He said dry that "the international reports predict a rise in the rate of GDP of Iraq's oil to the ratio exceeds 8.5 percent over the next year in 2015, pointing out that" Iraq's economy, which is expected to witness a renaissance of quality in the foreseeable future, noting that the desired results of it will remain linked to developments in the oil market in the world and how it will be its impact on the financial resources of Iraq, but the fact will remain driven by the ability to follow the policies in the framework of achieving radical reforms in the overall legislation and laws in the forefront of those associated with the sector of Iraqi banks, which provides them achieve the best results " .
He pointed to the existence of cash currently in the Iraqi market exceed 35 trillion Iraqi dinars, not being invested in development projects as required because of ballasts hinder the related laws and legislation which makes Iraq loses many opportunities in the implementation of development projects, especially if increased these amounts in the light expectations promoted by reports of experts and stakeholders. "
He said dry the need to reconsider the laws and the relevant legislation in the economic sector in general and the banking sector in particular, taking the importance of the role of the Central Bank of Iraq in the process control on the activity of banks without specifying between banks, government or private, pointing to the need to adopt the principles of governance and good governance and commitment to international regulations as well as issued by the Central Bank of Iraq, which will have a reflection on the level of doubling the sector's products provided to the citizen and who is looking forward to further strengthening of the reasons for his confidence and credibility of the sector. "
On his part, Managing Director of the North Bank for Finance and Investment Munther student Kaftan "that results in the financial statements of the bank until the end of the month of September 2014 reflects the image of activity achieved by the bank during the last period, despite the exceptional circumstances experienced by the economic sector where the data show how the bank was able to overcome these difficulties, especially those relating to the banking sector, which is the financial arm of any activity sectors. "
Point out that "the financial position of the bank is still a distinct part of other banks, and that the bank was keen on the role of lending and funding to meet the requirements needed societal sectors, especially the productive and service them, noting that" indicators of the performance of the bank in the field of employment policy money was good if it was taking into consideration the difficult circumstances faced by the country, pointing out that "the performance of the bank characterize evolution which touches the growth rates in most of the activity related to solvency, liquidity and asset quality." 

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