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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Specialists: oil resources have not invested in economic development

    Rocky
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    • Post n°1

    Specialists: oil resources have not invested in economic development Empty Specialists: oil resources have not invested in economic development

    Post by Rocky Sat 25 Jan 2014, 6:03 pm

    Specialists: oil resources have not invested in economic development



    Baghdad Suha Shaykhli:








    Institute set up the progress of policy development headquarters in Jadiriya of Friday, I attended a seminar «New Morning» about (the crisis of the banking sector in Iraq)

    Led by the institute's president and a former minister of planning and economic expert, Dr. Mehdi al-Hafez and economic expert, Dr. Mohammed Saleh appearance and economic expert Majid picture and secretary of the Association of Banks Dr Abdul Aziz Hassoun, and a group of academics and interested in economic affairs.

    He spoke at the beginning of the seminar, Dr. Hafiz indicating that the absence of an integrated economic vision was and still is the most prominent problem in the economic life, and constitute a crisis of the banking system in Iraq, one of the major episodes in the fundamental flaws.

    He said Hafiz since the change that took place in Iraq and led to the replacement of the old political order a new system remained regrettably monuments and the foundations of old building economic unchanged, but that some may aggravate and expanded so it can not be held objective comparison convincing between economic performance in two phases, and perhaps the role of oil has become more damaging in the ladder of financial resources and economic development.

    He said Hafiz there was demand and wide to change the economic identity of Iraq, so that the market economy is the focus of the reforms expected in the economic construction, but that this approach did not succeed so far, adding that the public sector has become worse today than it was previously, explains Dr. Hafiz said destination fundamental change was in 2003, which called for the support of the private sector and make it a leading real for new construction, then the situation has deteriorated in the field of investment and has become a demand for a justification for the creation of an environment effective investment as well as the face of corruption and filtered, and between the figures and data undoubtedly confirm that Iraq is falling in terms of the distribution of wealth citizens and create situations of independence unacceptable never add to the rule him salaries and incomes of contradictory do not comply with the principle of social justice and the fight against obstacles to raising the standard of living of citizens, especially with regard to unemployment, widespread poverty and deprivation. At the seminar, he World Bank consultant to restructure the banks, Dr Magdalsouri from the Iraqi Central Bank Law issued in 2004 and the Banking Act of 2004 and ensure these laws of systematic market economy where they were: interest rate liberalization and the abolition of credit schemes and opening the door to work for foreign banks either through participation in local banks, and without setting any limit to the rate of participation, or open branches in Iraq without specifying the capital, in addition to the possibility of opening representative offices, referring to the freeing of foreign exchange and the abolition of restrictions on the transfer of funds, except for the requirements of the law against money laundering and the financing of terrorism, stressing the subjection of all banks including Almassar P specialized to one law means the activity of the commercial banking only, indicating that the race inherited after April 2003 economy collapsed and the banking system lags behind in all aspects of administrative, financial and service because of the wars and the siege and the militarization of production and implicate the government banks ties external and domestic financial complex and confusing to them, in addition to the interruption of Iraq and its activities economic global developments in All spheres of intellectual, scientific, physical, saying that this has led to the weakness of the banking culture in general and the weakness of international confidence in Iraqi banks, as well as the weakness of the role of banks in the economic activity of the Iraqi and development activity.

    He pointed out here came from the need to reconsider the development of the banking system in Iraq and the laws governing the work and improve its performance and its role in economic activity and the development and strengthening of international Ola Qath.

    He said Dr Suri said banking reform in the presentation less based on two axes, the first restructuring of State-owned banks which Rafidain and Rasheed and Almassar P specialized in addition to the restructuring of the Directorate of banking and credit controls in the central bank presentation visor, while the second axis, the official pointed Suri to the need to develop regulations appropriate based on the Basel different taking into consideration the requirements of the economic situation in Iraq and Iraq's international relations with the aim of organizing the work of private banks and the government together, and strengthen the role of the control and supervision of the Central Bank of Iraq.


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