Call for the adoption of letters of credit in commercial operation

1/27/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb

stressed the financial and banking expert Abdul Hadi Sadiq on the need to adopt action plans to help attract money chunky saved in homes to own banks to help move the labor market and support the investment business. He said in an interview for »Sabah»: The private banks are required to develop its work mechanisms more through the adoption of programs to encourage savings in private banks and create incentives to this matter by improving interest rates and benefit from successful to some banks experiments that have worked to provide lottery value to depositors Awards and other mechanisms that maximize savings in private banks. He pointed to the importance of adopting a way of documentary credits in the import of various goods that are way safer for the economy of the country and determine the actual need of the country of hard currency, as well as to disseminate banking culture through programs prepared for this purpose urges the adoption of instruments in the trading of advanced banking products and available in country. Sadik pointed to the importance of expediting the legislation of the Deposit Insurance Law, which contributes greatly to the creation of trust between the citizen and the private banks, which represents a legal basis guarantees the deposits of citizens in banks, stressing that this trend will contribute greatly to the creation of discreet banking sector, calling for the banks Ideal management financial liquidity and careful in this matter to prevent problems that might affect the work of the bank mechanism. And human resources, said: represent the most important work and development of the banking axes as they are through the adoption of advanced banking technology which requires the development of periodic training plans during the year include all banking operations, noting that the National Bank training mechanism inside and outside the country benefiting from its partnership with one of the regional banks adopted to organize courses helped boost efficiencies competent affairs banking human resources.

and the need to focus on banking behavior, which represents a magnet for customers at all levels (citizens or companies), where he became an important part of successful banking business worldwide requirements, calling for giving such local banks important aspect required.