See the economic reform and banking post «Daesh»
Most countries, especially developing countries and Iraq, one of them based curricula and its economic thought, philosophy and ideology that believes in the political system is based on the economic, human and natural resources, infrastructure, structural, master available to the economy and strategic goals to be achieved for the welfare of society and to ensure the basic needs of the people that make him feel that its political system works for his service and build its future.
But in light of the political, security and special economic conditions currently experienced by Iraq and in particular the suffering of the reality of economic turbulent financial crisis, which began to affect a clear impact on the obstruction of the implementation of the government's plans and the private sector to contribute to economic development, as the crisis causes the current and future implications because of the sudden drop of the prices oil in the global market and is the primary supplier of Iraq economically and which constitutes up to 60% of GDP and 95% of annual revenue in the general budget, and the failure to create a clear and poor planning new economic resources least Tsada and lack of coordination between the fiscal and monetary policies and the continuation of the deficit from one year to another in public budgets because of the lack of retention of cash precautions for the lack of the existence of a sovereign fund similar to other oil countries, In addition, confusion and economic vision in-depth backgrounds and the Iraqi economy rentier, and the migration of national capital abroad because of subjective and objective conditions above, which concerns us here is the Iraqi economy and what is new in it? What are the levels of development and underdevelopment in the basic episodes? What are the implications for sustainable development? What is our strategy economic post Daesh?
In order to achieve this we propose the following:
the general frame
To draw a road map on the progress and strategic level to re-drafting of the new economic approach of Iraq, which supports mechanisms of transition to a market economy
Activating the decisions reached by the Committees experience the problem in the Council of Ministers in 2015 for each economic sector holds the implementation of the roadmap for each economic sector and is subject to the implementation of these decisions for follow-up, monitoring and evaluation
The formation of a joint legal committee to re-drafting and amending and issuing new laws that serve the implementation of the road map that is approved which all environmental laws governing legislative and manages the new Iraqi economy Bmenhjh.
Drawing and the development of policies and mechanisms to ensure that the partnership between the public and private sector, and the involvement of the private sector in economic decision-making and management of the economy industry and the establishment of market leadership council of private sector representatives and its functions are as stated in the years of private sector development strategy (2013-2014).
We proceed in that from a purely Iraqi experience is consistent with everything Iraqi Samimi in consciousness, culture, and work Savior bright and tomorrow that we see with eyes optimistic, and we are working according to the principle (disagree in politics and unites economy) because people can not be achieved well-being and happiness and future prosperous without a national economy solid contributes to construction of all, and the foundations of this building are available in Iraq.
Economic reform and the banking methodology proposed:
First, review, evaluation and re-structural and institutional system of the economy building
According to the following:
1. Establishment (Economic Council) that is linked to the Council of Ministers and the wide participation of government experts and the private sector equally, take the strategic planning of the economy and to identify operational policies and follow-up and monitoring of implementation shall be issued by law committed by the ministries and all institutions and sectors of the state and its decisions are binding effect after the cabinet approval . And it shall supervise and follow up the following national economic institutions:
National Provident Fund (a).
(B) The Supreme Committee for the import, export and investment.
C - National Reconstruction Fund.
D - Support Committee and the protection of national production.
E - Commission for small and medium enterprise development.
(F) Public Service Commission.
Second, re-review and evaluation of the financial and monetary policies applications
Although the Central Bank of Iraq to prepare and launch strategy for the years (2016-2020), which included the main objectives and sub to achieve financial stability and development of the banking system according to the mechanisms and new points of work, but that does not prevent the central bank's priorities, including the following:
The Central Bank and Ministry of Finance analyzed the financial position of the current banks are expected for the years (2017-2020) and to determine the actual need for liquidity to sustain cash trading in the Iraqi market and stimulate the economic cycle in all areas, and develop a proactive plan to prevent bankruptcy and the collapse of some banks and sustain the banking wheel under the circumstances The current use of new tools and applications of monetary policy mechanisms.
The current bank financing structure riddled with a lot of failures and obstacles, and in order to increase credit total financing from banks and activate their contribution to various aspects of investment and reconstruction and push the development process and move the economic cycle in Iraq, we see a serious reconsideration of the policy of lending and bank financing and activating maximize the financing of small projects as an essential step The intermediate goal of social and economic a special and urgent priority and that the Central Bank of Iraq and the role of supervisory oversight effectively.
Amendment of economic legislation in Iraq, which regulates the economic and banking work to advance the reality of the economic and banking in particular the Central Bank Law No. 56 of 2004 and the Banking Law No. (94) of 2004 and the Law of Companies Registration No. 21 of 1997 and the law of the Iraq Stock Exchange No. 74 2004 investment Law (No. 13) of 2006 and the activation of the money laundering Act.
Issuance of SMEs law-sized and small to help and create new employment opportunities and reduce poverty and destitution and contribute to the economic and social development plans and to reduce high unemployment, which exceeded 28% of the issuance of the Deposit Insurance Act and the credit guarantee and loans and the establishment of companies concerned.
Activating the role of government banks and specialized banks and civil banks to provide soft loans to the private sector and the national as well as finding solutions to the problems of accumulated taxes and benefits resulting from the stalled production solutions for entrepreneurs.
Revision of the instructions and implementing regulations and guidelines on the applications of monetary policy and the development of a proactive regulatory regime for accurate follow-up implementation and in particular with respect to the external transfer window and currency overseen by the Central Bank of Iraq and the development of new mechanisms in respect of external transfer and documentary credits, here we propose the establishment of the Bank for Foreign Trade with the task implementation of the curriculum for the private sector importation, which must be prepared by the Ministry of Commerce in the light of the consumer need for estimates.
Securing legal and technical requirements for a twinning and wide-ranging between government banks and private banks on the one hand and between the international banks on the other hand, in order to develop the payments of the banking system, modernization and regulation of the financial and monetary where trading operations according to the latest modern electronic banking systems applied in the countries of the world.
Review and evaluate and re-classification of banks in accordance with the performance standards of efficiency and activity approved the adoption of international standards that the process of review and evaluation certified neutral international accounting institutions and under the supervision of the Central Bank of Iraq.
And the Central Bank to prepare an analytical study to review the reality of banks in the light of the results of its operations for the year 2015 until 31.12.2016 and making critical decisions Bhikltha and the integration of small-sized banks and weak activity with large and discreet banks in order to develop the private banking sector.
To be a banking merger specific foundations and means to address the problems and obstacles to the work of the banking sector and its transition from the role of banking to the developmental role.
[You must be registered and logged in to see this link.]
Most countries, especially developing countries and Iraq, one of them based curricula and its economic thought, philosophy and ideology that believes in the political system is based on the economic, human and natural resources, infrastructure, structural, master available to the economy and strategic goals to be achieved for the welfare of society and to ensure the basic needs of the people that make him feel that its political system works for his service and build its future.
But in light of the political, security and special economic conditions currently experienced by Iraq and in particular the suffering of the reality of economic turbulent financial crisis, which began to affect a clear impact on the obstruction of the implementation of the government's plans and the private sector to contribute to economic development, as the crisis causes the current and future implications because of the sudden drop of the prices oil in the global market and is the primary supplier of Iraq economically and which constitutes up to 60% of GDP and 95% of annual revenue in the general budget, and the failure to create a clear and poor planning new economic resources least Tsada and lack of coordination between the fiscal and monetary policies and the continuation of the deficit from one year to another in public budgets because of the lack of retention of cash precautions for the lack of the existence of a sovereign fund similar to other oil countries, In addition, confusion and economic vision in-depth backgrounds and the Iraqi economy rentier, and the migration of national capital abroad because of subjective and objective conditions above, which concerns us here is the Iraqi economy and what is new in it? What are the levels of development and underdevelopment in the basic episodes? What are the implications for sustainable development? What is our strategy economic post Daesh?
In order to achieve this we propose the following:
the general frame
To draw a road map on the progress and strategic level to re-drafting of the new economic approach of Iraq, which supports mechanisms of transition to a market economy
Activating the decisions reached by the Committees experience the problem in the Council of Ministers in 2015 for each economic sector holds the implementation of the roadmap for each economic sector and is subject to the implementation of these decisions for follow-up, monitoring and evaluation
The formation of a joint legal committee to re-drafting and amending and issuing new laws that serve the implementation of the road map that is approved which all environmental laws governing legislative and manages the new Iraqi economy Bmenhjh.
Drawing and the development of policies and mechanisms to ensure that the partnership between the public and private sector, and the involvement of the private sector in economic decision-making and management of the economy industry and the establishment of market leadership council of private sector representatives and its functions are as stated in the years of private sector development strategy (2013-2014).
We proceed in that from a purely Iraqi experience is consistent with everything Iraqi Samimi in consciousness, culture, and work Savior bright and tomorrow that we see with eyes optimistic, and we are working according to the principle (disagree in politics and unites economy) because people can not be achieved well-being and happiness and future prosperous without a national economy solid contributes to construction of all, and the foundations of this building are available in Iraq.
Economic reform and the banking methodology proposed:
First, review, evaluation and re-structural and institutional system of the economy building
According to the following:
1. Establishment (Economic Council) that is linked to the Council of Ministers and the wide participation of government experts and the private sector equally, take the strategic planning of the economy and to identify operational policies and follow-up and monitoring of implementation shall be issued by law committed by the ministries and all institutions and sectors of the state and its decisions are binding effect after the cabinet approval . And it shall supervise and follow up the following national economic institutions:
National Provident Fund (a).
(B) The Supreme Committee for the import, export and investment.
C - National Reconstruction Fund.
D - Support Committee and the protection of national production.
E - Commission for small and medium enterprise development.
(F) Public Service Commission.
Second, re-review and evaluation of the financial and monetary policies applications
Although the Central Bank of Iraq to prepare and launch strategy for the years (2016-2020), which included the main objectives and sub to achieve financial stability and development of the banking system according to the mechanisms and new points of work, but that does not prevent the central bank's priorities, including the following:
The Central Bank and Ministry of Finance analyzed the financial position of the current banks are expected for the years (2017-2020) and to determine the actual need for liquidity to sustain cash trading in the Iraqi market and stimulate the economic cycle in all areas, and develop a proactive plan to prevent bankruptcy and the collapse of some banks and sustain the banking wheel under the circumstances The current use of new tools and applications of monetary policy mechanisms.
The current bank financing structure riddled with a lot of failures and obstacles, and in order to increase credit total financing from banks and activate their contribution to various aspects of investment and reconstruction and push the development process and move the economic cycle in Iraq, we see a serious reconsideration of the policy of lending and bank financing and activating maximize the financing of small projects as an essential step The intermediate goal of social and economic a special and urgent priority and that the Central Bank of Iraq and the role of supervisory oversight effectively.
Amendment of economic legislation in Iraq, which regulates the economic and banking work to advance the reality of the economic and banking in particular the Central Bank Law No. 56 of 2004 and the Banking Law No. (94) of 2004 and the Law of Companies Registration No. 21 of 1997 and the law of the Iraq Stock Exchange No. 74 2004 investment Law (No. 13) of 2006 and the activation of the money laundering Act.
Issuance of SMEs law-sized and small to help and create new employment opportunities and reduce poverty and destitution and contribute to the economic and social development plans and to reduce high unemployment, which exceeded 28% of the issuance of the Deposit Insurance Act and the credit guarantee and loans and the establishment of companies concerned.
Activating the role of government banks and specialized banks and civil banks to provide soft loans to the private sector and the national as well as finding solutions to the problems of accumulated taxes and benefits resulting from the stalled production solutions for entrepreneurs.
Revision of the instructions and implementing regulations and guidelines on the applications of monetary policy and the development of a proactive regulatory regime for accurate follow-up implementation and in particular with respect to the external transfer window and currency overseen by the Central Bank of Iraq and the development of new mechanisms in respect of external transfer and documentary credits, here we propose the establishment of the Bank for Foreign Trade with the task implementation of the curriculum for the private sector importation, which must be prepared by the Ministry of Commerce in the light of the consumer need for estimates.
Securing legal and technical requirements for a twinning and wide-ranging between government banks and private banks on the one hand and between the international banks on the other hand, in order to develop the payments of the banking system, modernization and regulation of the financial and monetary where trading operations according to the latest modern electronic banking systems applied in the countries of the world.
Review and evaluate and re-classification of banks in accordance with the performance standards of efficiency and activity approved the adoption of international standards that the process of review and evaluation certified neutral international accounting institutions and under the supervision of the Central Bank of Iraq.
And the Central Bank to prepare an analytical study to review the reality of banks in the light of the results of its operations for the year 2015 until 31.12.2016 and making critical decisions Bhikltha and the integration of small-sized banks and weak activity with large and discreet banks in order to develop the private banking sector.
To be a banking merger specific foundations and means to address the problems and obstacles to the work of the banking sector and its transition from the role of banking to the developmental role.
[You must be registered and logged in to see this link.]
Today at 4:58 am by Rocky
» Oil resources and political conflicts: the parties’ race to control Kirkuk’s wealth
Today at 4:54 am by Rocky
» Obelisk Clock: Waste in ports exceeds “theft of the century”
Today at 4:53 am by Rocky
» Al-Hakim: The countries of the region want to invest in Iraq
Today at 4:51 am by Rocky
» Electricity fees exhaust farmers and drain 20% of their production costs
Today at 4:49 am by Rocky
» The Ministry of Interior warns against harboring and employing violators of the foreigners’ residenc
Today at 4:48 am by Rocky
» The National Bank of Iraq building was attacked by a bomb east of Baghdad
Today at 4:46 am by Rocky
» It enters illegally and increases the unemployment rate.. Warnings about “foreign workers” in Iraq
Today at 4:44 am by Rocky
» A parliamentary committee reveals two reasons preventing the resumption of oil exports to Türkiye
Today at 4:43 am by Rocky
» A representative considered it a “scandal”... Sudanese agreed to supply Kurdistan with 720 tons of g
Today at 4:42 am by Rocky
» Parliamentary Resources: Difficulty in resuming oil exports through Türkiye
Today at 4:40 am by Rocky
» The position of Speaker of Parliament raises political division
Today at 4:38 am by Rocky
» Soon.. voting on amending the law on the foundations of equivalency of certificates
Today at 4:37 am by Rocky
» Iraqi workers celebrate their International Day
Today at 4:35 am by Rocky
» Iraq exports to America more than 4 million barrels of oil
Today at 4:34 am by Rocky
» “Quadruple Summit” regarding the “Development Road” project
Today at 4:33 am by Rocky
» Oil and white products
Today at 4:32 am by Rocky
» Specialists call for monitoring and regulating the entry of foreign workers
Today at 4:31 am by Rocky
» Al-Sudani: Iraq will witness a revolution of projects to invest in water wealth
Today at 4:30 am by Rocky
» Launching funding for the salaries of civilian and military retirees for the month of May
Today at 4:27 am by Rocky
» Parliament reveals Erdogan's position on Iraq's water shares: He did not give clear approval
Today at 4:25 am by Rocky
» Finance launches funding for the salaries of civil and military retirees for the month of May
Today at 4:24 am by Rocky
» It may lead to "dividing the region"... revealing an imminent announcement to postpone the Kurdistan
Today at 4:22 am by Rocky
» The Kurdish opposition addresses Baghdad: Do not respond to the request of the Kurdistan government,
Today at 4:20 am by Rocky
» Sudanese sends gas to Kurdistan after the electricity collapse and the bombing of Kormor
Today at 4:18 am by Rocky
» Al-Sudani makes a quick visit to the Interior Ministry and meets with senior officers: Be ready and
Today at 4:16 am by Rocky
» On their International Day.. Iraqi workers: Our rights are absent and our economy is fragile
Today at 4:14 am by Rocky
» Government official: Iraq has become a center for drug trade and smuggling
Today at 4:12 am by Rocky
» Cabinet decisions do not include votes on budget schedules, and Parliament criticizes the delay
Today at 4:10 am by Rocky
» Retired workers complain of poor living conditions
Today at 4:08 am by Rocky
» Al-Issawi renews his commitment to running for parliament: I will submit only to God
Today at 4:06 am by Rocky
» A Kurdish party refuses to settle the salaries of employees in the region's banks and files an accus
Today at 4:05 am by Rocky
» Al-Hakim: Sectarianism in Iraq is not social but political
Today at 4:03 am by Rocky
» Al-Sudani chairs the seventh meeting of the Supreme Committee of the Strategic Development Road Proj
Today at 4:01 am by Rocky
» Al-Sudani chairs the seventh meeting of the Supreme Committee of the Strategic Development Road Proj
Today at 3:59 am by Rocky
» Finance announces the launch of financing retirees’ salaries
Today at 3:56 am by Rocky
» In just two weeks, the Sudanese is awaiting an action plan from the relevant ministries in agreement
Yesterday at 3:35 pm by Rocky
» A thousand dinars every month.. An expert predicts the shape of the final journey of dollar prices
Yesterday at 3:32 pm by Rocky
» Parliamentary Oil: The budget deficit is under control
Yesterday at 3:28 pm by Rocky
» Parliamentary proposals to impose an economic blockade on Iraq
Yesterday at 3:18 pm by Rocky
» His advisor: Al-Sudani succeeded in digital transfer in banks
Yesterday at 3:12 pm by Rocky
» Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
Yesterday at 3:10 pm by Rocky
» Iraq is preparing to bid farewell to the blonde old woman and end the UNAMI mission
Yesterday at 2:46 pm by Bama Diva
» utube MM&C 4/30/24 Projects - Confidence Building - National Bank of Iraq
Yesterday at 7:24 am by Rocky
» Al-Sudani: The government is serious about moving to a diversified economy and supporting the indust
Yesterday at 7:18 am by Rocky
» Deputy: The dollar exchange rate is still high
Yesterday at 7:12 am by Rocky
» The Finance Committee reveals the total transfers today in Iraq
Yesterday at 7:08 am by Rocky
» Minister of Industry: Iraq does not have iron ores suitable for production and we depend on imports
Yesterday at 7:06 am by Rocky
» “The Dilemma of Economic Decisions”... Implementing a gasoline price increase despite opposition fro
Yesterday at 7:03 am by Rocky
» Ukrainian trade explodes with a “surprise”: Iraq has contracted with a “fake” Ukrainian company to d
Yesterday at 6:55 am by Rocky
» Iraq is preparing to invest in the largest gas field
Yesterday at 6:49 am by Rocky
» An economic expert for Nina: The World Bank’s expectations that Iraq will achieve a high growth rate
Yesterday at 6:43 am by Rocky
» The UAE buys cheaper Iraqi oil to increase its exports of “more expensive crude”
Yesterday at 6:40 am by Rocky
» The largest gas field in Iraq is close to seeing the light: a wealth that will reduce the import bil
Yesterday at 6:39 am by Rocky
» Minister of Resources: Water storage in dams is at its best
Yesterday at 6:37 am by Rocky
» Sadiqoun demands that Taqadum give up all positions in exchange for the presidency of Parliament
Yesterday at 6:33 am by Rocky
» Al-Sudani inaugurates the continuous casting factory at the General Company for Steel Industries in
Yesterday at 5:28 am by Rocky
» Iraq exports to America more than 4 million barrels of crude oil and its derivatives in a month
Yesterday at 5:26 am by Rocky
» Al-Sudani: We are committed to workers’ rights and reconstruction projects will not stop
Yesterday at 5:21 am by Rocky
» The Parliamentary Development Institute organizes a workshop on the right to information law
Yesterday at 5:15 am by Rocky
» Parliamentary Integrity: The judiciary is making a great effort to resolve the theft of the century
Yesterday at 5:11 am by Rocky
» Parliamentary Finance: The government holds responsible for the delay in sending the budget schedule
Yesterday at 5:07 am by Rocky
» Economist: Iraq faces a shortage of 3.5 million housing units
Yesterday at 5:06 am by Rocky
» Obelisk Hour: Sudanese’s visit to Washington did not address the “American exit”
Yesterday at 5:04 am by Rocky
» Planning clarifies the position on contracts and wages from the job number platform
Yesterday at 5:01 am by Rocky
» New country legalizes cryptocurrencies
Yesterday at 4:57 am by Rocky
» The UAE's Dana Gas announces the resumption of work in the "Kormor" field
Yesterday at 4:55 am by Rocky
» The International Comprehensive Shopping Festival kicks off in an Iraqi governorate
Yesterday at 4:54 am by Rocky
» The Minister of Labor gives good news to the workers: Wait for next week
Yesterday at 4:52 am by Rocky
» Iraq's water storage is at its best... Will it address the agricultural situation?
Yesterday at 4:51 am by Rocky
» The government takes a number of new decisions
Yesterday at 4:49 am by Rocky
» The Minister of Labor announces an increase in the salary of retired workers by 100 thousand dinars
Yesterday at 4:46 am by Rocky
» Al-Sudani: Service projects in Iraq “will not stop”
Yesterday at 4:44 am by Rocky
» 90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency s
Yesterday at 4:39 am by Rocky
» Iraq is implementing a "modern strategy" to get rid of a "Sumerian custom" that depleted the waters
Yesterday at 4:37 am by Rocky
» The Minister of Transport announces the opening of 48 collective lines in six governorates
Yesterday at 4:35 am by Rocky
» The Federal Integrity Commission announced the arrest of waste of public money, violations and manip
Yesterday at 4:34 am by Rocky
» Government Media: 3 million citizens have registered so far on the Ur electronic portal
Yesterday at 4:33 am by Rocky
» Labor Day in Iraq.. 6 million workers with an unknown future and stolen rights, and 90% of them “wit
Yesterday at 4:31 am by Rocky
» Iranian Chamber of Commerce: Iraq's investment budget is 150 billion dollars, and our share in it mu
Yesterday at 4:25 am by Rocky
» On International Workers’ Day... The President of the Republic: We stress the necessity of working t
Yesterday at 4:23 am by Rocky
» Prime Minister: We affirm our commitment to all Iraqi workers, men and women, to provide a work envi
Yesterday at 4:22 am by Rocky
» Progress threatens to withdraw from the political process in the event of infringement on its quota
Yesterday at 4:20 am by Rocky
» Bloomberg: Iraq violated its oil export quota and did not adhere to OPEC+ decisions
Tue 30 Apr 2024, 6:23 pm by Rocky
» Al-Sudani stresses the importance of following up on the understandings reached between Iraq and Ame
Tue 30 Apr 2024, 3:56 pm by Rocky
» From "everything is imported" to "food made by one's own hands"... Parliamentary reference to Iraq's
Tue 30 Apr 2024, 3:51 pm by Rocky
» The government hires an external auditor for the Trade Bank of Iraq
Tue 30 Apr 2024, 3:45 pm by Rocky
» Among them relates to the path of development...the full decisions of the Council of Ministers sessi
Tue 30 Apr 2024, 3:37 pm by Rocky
» Al-Maliki warns of the Washington Embassy's plans to threaten Iraqi society
Tue 30 Apr 2024, 11:51 am by wciappetta
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
Tue 30 Apr 2024, 10:44 am by Rocky
» Iraqi Business: There are no financial fears in Iraq for three years, and fear regarding the path of
Tue 30 Apr 2024, 10:34 am by Rocky
» Parliament is discussing with the Finance and Retirement Law amending the Landlords Law
Tue 30 Apr 2024, 10:27 am by Rocky
» Customs and taxes... Parliamentary Finance talks about huge sums of money that do not enter the stat
Tue 30 Apr 2024, 10:23 am by Rocky
» Parliamentary Oil threatens to sue the Ministry of Oil over raising gasoline prices
Tue 30 Apr 2024, 10:21 am by Rocky
» Iraq begins installing radiation screening gates at border crossings
Tue 30 Apr 2024, 10:17 am by Rocky
» Hong Kong launches Asia's first Bitcoin and Ether ETFs
Tue 30 Apr 2024, 10:11 am by Rocky
» Al-Mandalawi discusses with the delegation of the Jordanian Senate the achievement of economic integ
Tue 30 Apr 2024, 10:07 am by Rocky
» Parliament draws attention to the work of security companies in Iraq and identifies the party concer
Tue 30 Apr 2024, 9:59 am by Rocky
» How does a Sudanese choose the countries he visits and what are his messages?
Tue 30 Apr 2024, 9:54 am by Rocky