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2016/07/11 | 13:40
(Encyclopedia of the Day News | [You must be registered and logged in to see this link.] ) - Samir Abbas Alnasiri expert economist member of the Advisory Board of the Forum for Baghdad economic CBI launched its strategy for the years 2016 to 2020 in conjunction with the calls for fundamental and comprehensive change issued by the Prime Minister and the House ofRepresentatives and the political blocs to form a new government of technocrats I disagree everyone views different from the specifications and competencies minister Almarjoyen of view. what concerns us Kmokhtchin economic affairs and banking is what new mechanisms and policies that could be adopted by the central bank andgovernment and private banks and relevant authorities with regard to the banking reform , according to a method fundamental change desired for the Iraqi economy in the next phase, which constitute the banking sector first episode and basic in it. The central bank 's strategy has identified and painted the way for reform of the banking accordance with the following main objectives: ( 1 ) support and achieve financial stability. 2. activate the role offinancial institutions and the banking sector. 3. The organizational structure and the organizational structure development. 4. develop human capital. 5. activation and integration of internal and external relationships. Since these strategic goals has been to identify the time period their applications to five years to achieve the 23 sub -goal is derived based on the achievement of financial stability and the stability of the financial system and uncles financial inclusion and access to institutional reform and structural the banking sector in Iraq. but through mechanisms and action points analysis to achieve the above objectives note that the strategy has set clear priorities to achieve reform and certainly that these Protozoa been diagnosed in light of the challenges faced by the banking sector due to the severe economic and financial crisis that has plagued Iraq currently own reasons and objectivity displayed but no need to be restated. where it can be diagnosed with the priorities of the suffering of the banking sector, which requires the Central Bank of Iraq and the relevant government agencies to draw and to develop mechanisms and procedures addressed during the year 2016 and not to wait for five years to come , which are as follows: 1. re citizens and customers in the banking sector confidence Iraqi and particularly private banks. 2. work to increase the proportion of savings in the banks to the proportion of compactness outside banks reaching saving 23 ratio and compactness 77. 3. completion of the structural and technical foundations controlled proactive. 4. establishment of institutions and the issuance of deposit guarantee rules and credits. 5 review and evaluate theresults of the banks and reclassified by accredited international companies. identify weak banks that need theintervention of the Central Bank of Iraq to restore its activity and bankruptcy protection. 6. assist and support thebanks , which have been hurt in the provinces income Daash. 7. addressing sell the currency window and try to find alternatives instead entirely and leave. 8. strengthen the central bank 's initiatives in the financing of small and medium enterprises and contribute to the revitalization of the economic cycle and the diversification of the general budget for 2016 resources. therefore , for the purpose of making a fundamental change to the method of thebanking reform as stated strategy in accordance with the insight into the priorities and challenges suffered by the Iraqi banking sector suggest the implementation and application of the following insights: first, the central bank tostudy and analyze the reality of the government and private banks by reviewing, evaluating and rating these banks based on their financial statements and the results of its operations for 2015 and the adoption of an evaluation indicators and clear and based to force banks and standards Act international. Camels that and assigning a specialized team in financial analysis and Thdedmaeijer efficient performance of the banks in all areas of banking administrative and banking and credit work and prefers that this team is international independent and impartial ,keeping in mind the results of the US assessment for the years the system in 2013 and 2014. Secondly , the Central Bank of Iraq full control and supervision of the banking movement in Iraq by focusing on the electronic pre -emptive censorship office and field and a programmer and outline and identify irregularities and lapses and excesses of the executive management of bank and take corrective measures. Thirdly - the application of theCouncil of the Iraqi Central Bank Directors ' decision on controls the nomination of board members and staff leaders in banks and focus on professional competence and functional integrity and personal reputation and commercial expertise specialist. Fourth - restructuring of State - owned banks and work to be privatized in accordance with the memorandum signed with the World Bank with a focus on its contribution with some discreet banks in the private banking sector , and by no more than 25 that these banks managed mentality economy market and subject to the supervision of the audit Court and take thoughtful of the founding of the Bank for development and investment steps involved capitalizing the state by no more than 25 and is managed by the private banking sector and the state will undertake the guidance and supervision of the accounts to monitor and audit BSA subject.Fifth: - the Central Bank of Iraq to return reconsider its policy for control of monetary policy, specifically its mechanisms and tools related to maintaining the Iraqi dinar exchange rate against foreign currencies and this requires the study of the subject of an auction and sell the currency and the bank to secure the Iraqi dinar to theMinistry of Finance and the possibility of financial role and dealing in foreign currency do .oatba style ofdocumentary credits instead of money orders Foreign currently approved in order to preserve the integrity of theforeign exchange. Sixth: the central bank to form an advisory committee in conjunction with the Association ofbanks, experts and advisers economists and bankers from the private sector provides advice and expertise to theboard of Directors of the Bank and their circles competent and before important decisions on monetary policy industry and its impact on the economic situation in implementation the recommendations of the third Iraqi banking conference held at the end of 2015.
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