Specialists promised the launch of a new banking strategy

Specialists promised the launch of a new banking strategy



09/26/2013 12:00 AM




Assurances of the importance of the banking partnership between the public and private sectors

BAGHDAD - Hussein ثغب of Tamimi

Moving the banking sector's efforts towards the diagnosis of the most important challenges that confuse the reality of development banking in the country , as money experts say the importance of banking cooperation between the public and private sectors to reach the ideal supportive work environment for all economic sectors .

President of the Association of private banks in Iraq, Adnan al- Chalabi pointed out in an interview for the (morning) to launch a strategic new banking During the conference, the Iraqi banking first , noting that the strategy is executed during the days of the conference to be discussed thoroughly by experts banks from the public and private sectors to exit agreement or semi- agreement around.



Developmental prospects

He said during a press conference organized by the Association in preparation for the conference to be held end of this month that the strategy governing the banking business now and in the future , and develop prospects developmental progress for the advancement of banking services gradually, pointing out that the conference is an opportunity to put forward views and proposals that are in the development of the banking sector, especially that the conference includes a display ( 12 ) in search of research , six within 28-29 days of the current month , in addition to the extensive discussions about the problems that limit the banking development process .



Sophisticated banks

He Chalabi that all efforts are focused out the recommendations of value to contribute actively to the development of the banking sector , which is the most important element in the process of promoting economic destruction, can not be development of the economy away from the banking sector processions Technologies International Banking , and able to provide advanced services to the public beneficiaries.

The confidence of international banks

The Director General of the Islamic Bank of Mesopotamia Abdul Hussein Mundhiri has pointed to the importance of the first Iraqi banking conference , pointing out that Iraq would emerge from the provisions of Chapter VII to make the Iraqi banking market and a new destination of the most prominent international banks known بثقتها in the global economy , such as neighborhood . Me موركن and Standard Chartered , Bank of America and Citibank , among others. He said the duty of our banks private and public partnerships and the signing of memoranda of understanding with these banks to get the experience accumulated in how to deal with financial crises and the internal and external economic and how to run their capital and deposits of the public in corporate finance and small and medium enterprises and large and others. As these companies working in our banks will be given the opportunity to gain experience and confidence in the introduction of new investment patterns on the Iraqi banking market .

Trust beneficiaries

He continued: After the success of private banks to increase their capital has overflowed huge mass of cash liquidity in the volume of more than five trillion dinars are currently looking for investment opportunities for funding. As well as trillions granted loans , real estate and commercial and industrial productivity , and others . This increase in capital returned once again trust in private banks after the tremors experienced by its reputation as a result of the abuse of some banks to correct the behavior of the banking business , as exposed to sanctions and deterrent measures from the central bank , as the public funds returned again deposited in private banks.



Prospects for cooperation

The said Executive Director of the Association of private banks in Iraq, Abdul Aziz Hassoun : The strategic banking that will be working to develop the reality of the work of banks in general , in addition to consolidating the prospects of cooperation between the banking market and finance. Said Hassoun that these efforts are being made to discuss the challenges that affect negatively to the development banks , particularly the private banks in the country has come a long way in the adoption of modern techniques can not the government of banks accessible , especially because it lives in the restructuring phase . Stressing that the evolution of the private banks did not quite live up to the level of ambition , although it is a good girl relationships with international banks with a rating of Advanced on the list of the world rankings.



Amend the Banking Act

And that one of the most prominent papers will be presented during the conference days those dealing with the subject amend the Banking Act , and that allows for private banks to adopt investments that will positively affect the reality of the Iraqi economy in terms of production and services.



The future of banks

He returned Goldfinch to confirm that international participation will be the quality , quantity and its presence will be signed by the positive , as can convey a clear picture for the future of the Iraqi banking sector to the world, pointing to the allocation of space from the conference of the World Bank , which will display what Bjabth through scientific research promising to ask at this conference , where realizes everyone its importance in the economic development process . Pointing out that the presence of Arab Banks will be active through the Union of Arab Banks and the Association of Banks , in addition to the different banking experiences .

Goldfinch concluded his speech by saying : that the experience of private banks in a modern country has faced significant challenges , noting that effectively took off after 2003 , but you need to great efforts in order to reach the global banking sector to the services provided to the public beneficiaries .Undo editsThis language is still in early stages of development and not yet up to the same quality standards as our other languages.">Alpha

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