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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Specialists: Legislation and modern technology a necessity for the development of banking

    lonelyintexas
    lonelyintexas
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    Specialists: Legislation and modern technology a necessity for the development of banking Empty Specialists: Legislation and modern technology a necessity for the development of banking

    Post by lonelyintexas Sun 29 Sep 2013, 8:23 pm

    Specialists: Legislation and modern technology a necessity for the development of banking

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    30/9/2013 12:00 AM

    In order to create a sophisticated banking sector

    BAGHDAD - Hussein of Tamimi

    Examine a number of bankers on the second day of the conference, the Iraqi banking the first ways to improve reality of banking, particularly with regard to legislation governing the functioning of commercial banks, Islamic and propose remedies needed to address the determinants of development, especially after he showed the prime minister is ready to support the banking sector legislatively and administratively.

    Executive Director of the Association of private banks in Iraq Abdul Azizi Goldfinch said: that the conference is the first of its kind in the country to address the determinants of development banking in the country and create an ideal environment contribute to the transfer of technology advanced banking to provide better services to the public beneficiaries, especially as the Prime Minister in his speech, which was read Acting promised to adopt the proposals issued by the conference and contribute to overcoming the obstacles to development banking.

    He said: private banking sector needs to be justice in the application of the laws, regulations and instructions, and to oblige the government banks using modern banking systems for the purpose of compatibility with the clearing and payments systems administered by the Central Bank of Iraq, as well as forcing private banks adopting in its work.

    Charter professional

    He pointed to the importance of a charter professional inter-bank public and private under the supervision of the Central Bank of Iraq and the formation of a coordination committee a permanent follow-up flow of transactions among the parties to the banking system, pointing to the importance of putting an end by the authorities of the financial and monetary and other authorities of the smear campaign against her device Iraqi banking, which greatly affected the reputation and led to shake confidence in him, as well as stop the threat of punitive action and the boycott by the government banks to private banks.

    Hassoun pointed out that the Iraqi banking system differs from Mthilath in neighboring countries, as it consists of banks owned by the government and other private sector, and despite the fact that this difference extends to the decades-long but the economic developments and policy in Iraq influenced clearly the reality of the banking business, noting The authorities of the royal banks government increased extremism in dealing with private banks to reach interrupt routines and is another much overall banking performance in Iraq after he was ignored this device but it is a single entity is not valid and can not be seen Kmqata or parts.

    He emphasized that excellence in monitoring and supervision of the banks must be completed in order to upright banking transactions smoothly necessary in between all banks.

    Especially as the number of banks exceed fifty Currently, 43 of them private and seven government-owned, and include the number of private banks, branches of foreign banks and foreign Arab and the 11. And has exceeded the number of branches of these banks (500) and the number of employees (11) thousand employees.

    Global applications

    Tawfiq Murtaza manager one Arab banks operating in Iraq, he said that the conference, such as a good step to draw a roadmap for the growth of the Iraqi banks and contribute in bringing prospects of cooperation between the private banks and the government, pointing out that the meetings bankers with legislative bodies is extremely important because it contributes to discuss legislation that that will promote and allow banks to engage in a broader activity than it is now.

    He said: We as banks foreign entered into the labor market of the Iraqi banking and found some things banking bit far for international applications International, stressing that our presence to the conference comes to draw the attention of those who on the banking sector mechanisms to contain the determinants of development banking, which represents the most important elements of economic advancement destruction.

    Value of the dinar

    While pointed general manager of statistics and research and Walid Idi Abdul Nabi that the successes of monetary policy, the current embodied in the long-term stability in the value of the Iraqi dinar, as well as the decline in the inflation rate basis to 5.6 percent in 2012 as well as building reserves, strong foreign currency promised Dolly the value of Iraqi currency, integrity and protection of the balance of payments of the external shocks and on this basis, has achieved the government's economic program had outstanding success in part of what monetary policy has played in achieving its goals and as stipulated by the Law of the Central Bank of Iraq.

    Comprehensive development

    He stressed the competent banking Islamic Sadiq Rashid on the importance of supporting Islamic banks by governments issued laws and regulations suited to its banking and especially the law of Islamic banks and this is what makes spread wider and more attractive and stable, and promote cooperation among Islamic banks and central banks, with the need to be there independence and clear the monetary policy of the Central Bank through the creation of pattern supervisory consistent with the nature of the work of Islamic banks because they are subject to the Sanitary control of commercial banks applied by the central bank, especially with regard to the reserve, the legal and the discount rate, and ceilings of credit and open market operations and debt securities and lender of last resort.

    Determinants of development

    And on the question of the (morning) about the importance of the conference, said Chairman of the Board of Directors of Commercial Bank of Assyria Wadih Alhandal: to organize the first forum banking specialist discusses the mechanisms for the advancement of banking in any case, something positive will come to that offer banking services to the public beneficiaries.

    He noted that the proposals launched by the bankers are many in this conference, which meets in which public and private sectors and in the presence destinations legislative formed a real idea about the obstacles that limit the development bank, which will hopefully be addressed through cooperation between the public and private sectors.

    He pointed out that the banking sector needs to support the mechanics of his work by allowing him snapped a wider role in the process of investment and development, pointing out that this trend needs to be a legislative amendment allows an investment of monetary mass in private banks in portfolios different investment holds many positives to the local economy, where will work to contain the problems of unemployment and the development of services and rotate the wheel of production and many positives.

    And investment banks

    Banking expert Samir Nasiri said: that the banking sector Corner fundamental pillars of the pillars of a free economy, which supports government policies and push them towards the process of economic growth if the bases in the construction of this sector strong and solid and based on scientific planning and full of competence and experience and confidence, especially if managed this sector to contribute development plans and investment at the level of construction and economic growth., and pointed out that the banks and investment pillars inextricably linked for making the process of growth and development on a sustainable basis, especially as the banking sector is a vicious financing the first and main for investment activities and that the current stage requires today more than ever before to open the way for banks to work easily and effectively contribute to the investment support for It's nerve President for growth, evolution and development.

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