Consensus on the need to raise awareness of insurance (CBI)

04/3/2018 12:00 am 


[rtl]At a conference all his experts specialize 

Baghdad / Hussein Thaghb   Mustafa al-Hashemi 
The insurance sector, which is complementary to the financial sector alongside the banks and the stock exchange, gives the economy the strength necessary to carry out its various activities. Iraq is a pioneer in this field since the middle of the last century. 
The Iraqi insurance conference was organized yesterday under the auspices of the Ministry of Finance, the Financial Insurance Board and the insurance companies operating in Iraq. 
Experienced 
Central Bank Governor Dr. Ali Alaq said: "It is necessary to work on reviving the insurance sector in Iraq," pointing out that "the sector has been a pioneer in the region since the fifties of the last century and generations of people with experience and practices in the work," the structure of insurance 



"During the period from 1991 to 2012, the Central Bank of Iraq supervised the activity of insurance companies," noting that "one of the things that can promote this sector is the restructuring of the insurance sector, both government and private, and that the conditions of age can contribute to the movement of this sector, Expressing "the hope that this forum will succeed." A state of integration , in turn, Undersecretary of the Ministry of Finance Maher Hammad Johanne that " the problems of insurance companies can be solved through the revision of legislation to suit national experiences , " stressing "that there should be a state of integration between operating companies, where he was as much a case of competition must There is a possibility of cooperation. " For his part, the head of the Insurance Bureau Ahmed Abdul Jalil said: "Insurance is an ideal way to protect property alongside individuals and family, and that insurance is a global industry and is an important tool of savings and investment and the fight against poverty."





Abdul Jalil pointed out that "the need for legislation to encourage the marketing of insurance goods and services, adding that" the weakness of allocations in the investment budget damaged the work of the insurance sector. " Coverage of the notification expert financial affairs Haider Kazem al-Baghdadi urged" to spread the culture of insurance and oblige all importers and producers limit Lower than the insurance to cover the dangers, and this will at least reduce the importation of indiscriminate through the practice of importing abkhaz of goods for the purpose of competing with the domestic product and this is what we touch in our markets. So insurance importer a reasonable amount with insurance on their reserves to cover many accidents , the most important of fire or theft helps to tame the import and marketing to be balanced with the importer that comes to cover real demand and not to compete with a local product to destroy dumping commodity comes permeated the conference organizing a special exhibition of insurance companies Iraqi public And private. Efforts of the two sectors








"The insurance in Iraq was not at the level of ambition," said Raghad Nabil al-Alusi, executive director of Zain Islamic Bank of Iraq. "It needs to do all its activities and the public and private sectors join forces to raise insurance awareness in Iraq." 
He pointed out that "the communication with the various media raise awareness of the total in Iraq is a necessity, and must be ongoing campaigns to deliver the importance of insurance in all areas of life, both in the national economy or the economy of the population," noting that "the proportion of risks in Iraq needs insurance capabilities Commensurate with them and provide the appropriate insurance coverage. " Economic operations



Chairman of the Chamber of Industry and Trade of Iraq - British Sami Kashkol between "Insurance is an important link in the process of economic development, and represents the insurance companies Razin is an important center in providing full coverage of the overall economic operations of a country awaits the future of large work in the need for a field of insurance with international standards. The integration of the head of the Iraqi-Indian Chamber of Commerce, Mohammed Abdul Sattar al-Baghdadi, that "the insurance achieves the integration of the pillars of the financial sector consisting of banks and insurance stock market, where requires the need to activate the reality of insurance to achieve integration to be able to create a financial sector able to support the national economy and the activation of all its joints" . He pointed out that "the revitalization of the reality of insurance activates the economy and gives the moral strength of the productive and urban activities in particular, where it requires the existence of a supportive force supportive of the national economy." Takaful insurance








"Insurance or insurance is a means of dealing with the risks to which a person is exposed in his or her life during his or her lifetime in order to mitigate the burden of the insurance. This cooperation is achieved with the participation of people exposed to the same danger in the face of the effects that result from achieving it. " 
He explained that "Takaful insurance practiced by Islamic insurance companies is based on the contracts of contributions based on the cooperation of the public among the tenants among themselves to reparation damage that affects one of them and they are partners in the clouds and sheep." Agency contract



He pointed out that "under this type of insurance there is an agency contract is the insurance company to manage the insurance operations and insurance funds on behalf of the insurance business and the insured themselves and a fee known, because the large number of insured and can not manage insurance by them had to take the management of insurance operations another specialized body Its mission is to accept the membership of the insured and to meet the insurance premiums and pay compensation to the affected according to the foundations and standards and specific scientific and technical method is accurate and this body is the insurance company, it is a contract of donations and not a contract of 
 compensation.
This is the type of insurance that deals with the problems resulting from extreme poverty, unemployment and illiteracy and low growth rates through the distribution of this type of insurance, as well as works to support projects supporting the increase of production and productive sectors, especially in industry, agriculture and other areas and reduce rates of import and work to support local exports reaching the profits of insurance companies in the United Arab Emirates AED 1.4 billion in  
2017. the successful experiences of executive director of the Association of Iraqi bankers Silwan Nouri "a D insurance in Iraq is absent, and here comes the role of public and private insurance companies, which must adopt a perfect marketing mechanism, and if she could have been affected the use of successful experiences and the transfer of market - based mechanisms there. "




Al-Nuri said that "Iraq has great experience in the field of insurance and we can invest in creating local competencies empowered through their involvement in intensive training courses in managing local expertise, which is one of the oldest expertise in this field in the 
 Arab world." Sustainable development of the relevant economic affairs Ahmed Al - Attar said: " The conference comes to fueling the ideas process occupies its place in an economy that seeks to develop a sustainable and is outside of the highly centralized ended phase and have insurance one of the most prominent their instruments is certainly a national insurance has a wealth of experience to activate the service of our economy , which swap streams It was and still inhibitory  him ".ocd the need to" secure global mechanisms applied by local our companies, where he believes the materials from the country of origin and access to Iraq for all stages.





He pointed out that it is important to have insurance companies integrated examination and transport to reach the target markets, and we in Iraq because of the need for insurance for the existence of high risk rates, "the importance that we have mandatory insurance in line with the actual need for [/rtl]



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