Financial Inclusion system key to economic development
27/10/2016 0:00
[rtl]BAGHDAD - morning
Economic reform process needs to coordinate the efforts of all the institutions involved in economic affairs in the public and private sectors to draw a new map will lead to sweeping changes in economic activity, enhance sustainable development opportunities sought by Iraq through the adoption of financial inclusion, which contributed to the development of a major economic blocks on the level
the world. This means financial inclusion deliver financial and banking services to all segments of society and using them to serve the process of sustainable development.International Union of Arab Bankers member d. Sadiq al - Shammari said that the reality of the economy requires the adoption of comprehensive national strategy to promote financial inclusion, as well as donors and the makers of financial services should promote financial inclusion to ensure the availability of services to all individuals ,including the owners of limited income. Financial Services Added requires financial inclusion is the ability of individuals and businesses for financial services and use them effectively and in a responsible manner, knowing that 38 percent is equivalent to two billion people in the world do not reach them formal financial systems and Aeetmton theability to access to formal financial services in accordance with the specialized international data centers. He pointed out that the experience of the newly begun towards the implementation of strategies financial inclusion in the country and was theIraqi Central Bank 's role in this aspect where he initiated the granting of a loan of $ 5 billion , "6.5 trillion dinars" to promote strategic financial inclusion in the Iraqi economy.development of comprehensive and pointed out that the mainstream financial services plays a major role in achieving the goals sustainable development, which requires thepromotion of access to formal financial services through banks , various financial institutions to the various segments of society from individuals and institutions businessman means and conditions of appropriate and affordable to promote financial stability and economic and social development overall. the central banks play a key role in supporting and coordinating inclusive policies financial, An analysis of the World Bank included 56 countries benefit the central banking leadership role in the strategies financial inclusion in 71 percent of those countries. and that small and medium enterprises and micro positively affected financial inclusion as a result of the spread ofbanking services, and circulated to individuals and institutions where the diversity ofneeds consumers, thereby increasing the types of goods and services produced. As well as a rise in the consumer 's ability to purchase, which leads to increase sales by creating new markets. Integrity of the deal and continued: Since the financial inclusion represents an important dimension in the comprehensive and sustainable development strategy because of its impact in improving the opportunities for growth and financial and social stability , and it should work on delivery All financial services to all slides, including thepoor and with limited income and promised to key sectors of the banks clients, and to be fair dealing and transparency in the pricing of services. He concluded Shammari to say: there are inevitable in the work of financial institutions and their training and advisory to educate segments of society and various economic sectors on the need toinculcate a culture universal banking deal to allow the segments is the beneficiary (excluded) for a banking and financial services sector at reasonable costs.[/rtl]
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