Setting time limits for the completion of the Iraqi banking sector reform

Setting time limits for the completion of the Iraqi banking sector reform



BAGHDAD - My Day

Deputy head of the administrative body of the Association of Iraqi private banks, managing director of the North Bank for Finance and Investment Munther demanded full "The Association has developed through recommendations Banking Conference first Iraqi banks for the recently concluded in Baghdad, ceilings time to complete the reform of the Iraqi banking sector. Kamel said: The Association will work on the follow-up resulted from the conference's recommendations, particularly, the development strategy focuses on the contribution of the banking sector in the development and broaden the base of banking services and update regulations specifying the timeframe for the completion of the task of reforming the sector and its development. said: The importance of the conference kicks off in terms of the adopted proposals needed to address the underlying banking and the need to develop legislation successful development of the banking sector, pointing to the need to develop a formula of cooperation and coordination between the government and private banks, supported by the Central Bank of Iraq and the relevant authorities, in order to enhance the work of Iraqi banks and modernize their systems and keep up-to-date global.

He fully the need to promote the growth of the banking sector and strengthen the cooperation between the government and private banks, and this is reflected legislation and laws and regulations devote this cooperation, pointing out that the current stage requires also the use of modern technology in banking transactions and absorb Systems clearing and payments which confirms the Central Bank of Iraq. Demanded full creating an ideal environment to accommodate the requirements of the contribution of all Iraqi banks in the process of development and reconstruction, with chart a new structure for its role in the funding process and pairing and investment, as part of the strategy work focuses on the adoption of an effective partnership between the Iraqi private banks and government, taking into consideration the benefit from the experience of Arab Banks and foreign , which has increased its presence in Iraq during the past few years. The Secretary General of the Council of Ministers on the Keywords, banks demanded the establishment of a special nature, involving the public and private sectors specializes in investment for the development of the economy of the country.

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