Progress for Reform and Development Institute will hold a panel discussion on monetary policy in the

Progress for Reform and Development Institute will hold a panel discussion on monetary policy in the country

02/04/2017

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Economy News / special.

Institute for the progress of the policies of development systems in Baghdad on Saturday, a seminar titled (monetary policy challenges) in the presence of the governor of the Iraqi Central Bank on the Keywords and representatives of the financial and banking sectors of the economy including the Association of private banks.

And accept the central bank governor at the beginning of the seminar functions and powers of the bank in the field of monetary policy, which is to maintain the Sarabv by selling the currency and achieving balance and Alastaqraralnkadi window, preventing money washed and financing of terrorism, smuggling crimes.

Noting the need for the independence of the central bank, which vary from state to state depending on the fiscal policy of the country.

In answering to the intervention Alkhbayralaguetsada Bassem Jamil Antoine about the reasons for not granting loans to the industrial sector, similar to the commercial banking sector into financing large and medium enterprise initiative, Keywords that the central bank stressed launched this $ 5 trillion Danarda'm initiative and the financing of these projects despite the current financial crisis, noting that the stop happening now in this area is not due to the central bank, but the government apparatus.

For its part called on the Iraqi private banks association to involve members of the financial and economic parliamentary committees in seminars devoted to discuss the challenges faced by the private monetary policy, the banking sector in the country in general

He said the Association adviser Samir Alnasiri Speaking at a seminar hosted by the progress the Institute for Development Policy in the presence of Governor of the Central Bank on the Keywords under the challenges of monetary policy title on Saturday that the private banking sector faces a real big challenges, including the reluctance of a large segment of citizens deposit their savings in banks and withdraw another department Adaathm not for reasons of reputation risks

He pointed out that banks Kasso faces other challenges of the acquisition Government banks to 86 percent of the total deposits, as well as the effects of the financial crisis and its impact on the size of deposits in banks

Alnasiri and touched on the problems and challenges of other private banks are still exposed, including the theft of the terrorist organization Daesh $ 9 trillion dinars from 126 of its branches in the provinces occupied,

He also pointed to the detention of more than 7 trillion dinars back to private banks in the Kurdistan region represent deposits citizens.