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Memorandum of Cooperation for the construction of an effective banking sector



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Memorandum of Cooperation for the construction of an effective banking sector

Post by rocky on Wed 27 Jan 2016, 4:16 am

Memorandum of Cooperation for the construction of an effective banking sector

1/26/2016 0:00 
BAGHDAD - Hussein al-Tamimi Tgb 
began a new stage of cooperation to cooperate with Arab banks that have come to rely best technologies and provide advanced products, Iraq desperately need to create an attractive environment for foreign investment and their capital and use it to Iraq. 
President of the Iraqi private banks association meek ​​Handal said during a speech during the signing Memorandum of Cooperation collected Association of the Union of Arab Banks, it is the first of its kind initiative in the history of Iraqi banks, returned them the turning point of a new stage in the history of local banks aimed at creating a sophisticated banking sector, pointing out that the Arab Union draws came after he realized the importance of Iraq on the Square the regional and international economy, revealing the preparation of the Forum on Economic Information in cooperation with the Iraqi Journalists Syndicate, which aims to take the media leading role in addressing the economic events in a professional. Capacity development and added that the Iraqi private banks association is working to develop the work of private banks operating in Iraq in terms of infrastructure and working methods and human capacity offshore banking relations as the Union of Arab Banks has expertise in the support and development banks in the Arab region and to facilitate the exchange of information and the dissemination of knowledge and the establishment of forums and conferences, pointing to the desire of both parties to cooperate in order to support the Iraqi banking business.Handal said the memo included cooperation agreed upon aimed at coordination and communication between the two parties in terms of possibilities and general trends relating to banking work in Iraq, and the exchange of specialized through the training of the Iraqi banking sector, capacity building and holding specialized conferences inside Iraq experiences, or in one of the Arab countries (to be agreed on the choice of the country the right to host the event) with study each case individually and will be agreed on a mechanism, all as required by each activity, as well as to contribute to the coordination and support the Union of Arab Banks activities. Association of Banks in turn called Sam Fattouh, secretary general of the Union of Arab Banks to change the Iraqi private banks association to the association of private and public banks in order to devote the content of the partnership first and then join up with international banks, revealing the preparation of the investment in the coming period attended by Arab investors to see offers in Iraq. Fattouh said that the EU is committed to its mission for training Iraqi human resources in a more of detailed or banking product under the supervision of international experts, pointing to the Union's commitment to approach training preset through several training courses which gives the apprentice training certificate. openness to the Arab Banks Ali Tariq Executive Director of the Association he said that cooperation with the Union of Arab Banks is the gate real openness to Arab and regional banks, which have sophisticated systems and banking technologies, pointing to the possibility of achieving cooperation between the parties to the similarity of the work environment process, confirming the feasibility of this agreement with the Union, which is aged over 40 years and has the competencies has empowered international experience of all advanced banking systems. He pointed out that Union work on the development of banking systems in many Arab countries, and look forward to contribute to capacity building and cooperation in the field of organizing workshops in the field of banking technology and there will be a qualitative addition to the banking sector. Tariq pointed out that attracting investments requires the presence of a strong banking sector is capable of managing funds that employ in the investment process, and our ambition to create a sophisticated banking products chime and investment requirements, which represents an important part of the attractive environment. International Arbitration and said that the note included the agreement to hold some of the activities of the Forum or bank meetings inside Iraq, and to provide the Association as required by the private information banks ASEAN member yet studied the condition mentioned Union name as a reference for this information, and the exchange of invitations to conferences and events for both parties, as the Association provides support in the field of international arbitration or conflicts in the State of the Union asked that in matters relating to Iraq, specifically, as well as the exchange of information on technological development and modern means of banking services. For his part, Vice President of the Association Ali tempted said that this step comes to be Iraqi banks closer to the Arab banks, pointing out that the volume of work in Iraq, large and needs to be advanced banking services capable of dealing with large numbers, especially as the volume of work large and in all parts of Iraq, and this needs to be expanded horizontally to the banking sector operates sophisticated technologies for meets the needs of all beneficiaries. He pointed out that the memorandum focused on the Union offers the possibility of training and scientific and media in the success of Activity decide Association work in Iraq, provided that the benefit of the two parties after study by-case basis and in agreement Advance logistical and financial.

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