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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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    Al-Nusairi: He dedicates his new (tenth) book to the Central Bank and the Iraqi banking sector

    Rocky
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    Al-Nusairi: He dedicates his new (tenth) book to the Central Bank and the Iraqi banking sector Empty Al-Nusairi: He dedicates his new (tenth) book to the Central Bank and the Iraqi banking sector

    Post by Rocky Mon 28 Feb 2022, 5:30 am

    Al-Nusairi: He dedicates his new (tenth) book to the Central Bank and the Iraqi banking sector

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    Economy News _ Baghdad
    Recently, in the Association of Iraqi Private Banks, the new book of the Association’s advisor, Professor Samir Al-Nusairi, entitled (The Central Bank of Iraq in Facing Crises and Stimulating the Economy), is the tenth book in the series of books authored by the author. Adopted by the Central Bank and the Egyptian sector in overcoming crises and stimulating the economy. 
    Al-Nusairi dedicated his book to the Central Bank and the banking sector, and presented what was mentioned in his new book in a special interview to the "Economy News" agency today, Monday, reviewing my belief that the future of Iraq and its proud people must be a prosperous future despite the challenges, repercussions and suffering that its national economy has suffered during the course of nineteen years. years ago.
    With continuous effort and hope that does not fade, I continued with enlightened scientific giving with the background of experience and expertise, and daily living with the reality of our dear country, especially in the economic and banking aspect.
     Since 2003 until the present time, the Iraqi economy has suffered greatly from the loss of the curriculum, the lack of economic planning, the weakness of strategies, the dispersion of policies and chaos in the management of the affairs of the economy and its various productive sectors, which led to a weak contribution to the gross domestic product. The focus was on oil as the main resource for economic resources, where it formed within limits (60%) of the gross domestic product and (93%) of the total revenues of the general budget.
    What contributed to the exacerbation of Iraq's problems is the mismanagement and distribution of public money, which encouraged the exacerbation of financial and administrative corruption, marginalization and failure to give the appropriate opportunity for national economic cadres and expertise to manage effective economic institutions. In addition to this, the effects of external economic conditions, including instability in oil prices, their rise and decline, and the inability of successive governments that assumed responsibility to establish a sovereign fund when oil prices rise, like other oil-producing countries. Pointing out that what confused the
    economic process in Iraq and increased its complexities, is the structural imbalance in the economy and the challenges that led to instability in the monetary system and the financial system and thus the inability to achieve complete economic stability due to the deficit in non-oil revenue, the deficit in the balance of payments and the deficit in the general budget. so no
    Stimulating, encouraging, supporting and involving the private sector in making economic decisions, with the vision confused and the financial policies unclear. He also stressed the shortcomings in the legal environment regulating economic life issued in 2004. Experience has proven that they are deficient laws and need to be reformulated and amended, and that the set of challenges and repercussions above, despite Iraq's high oil resources and the growing numbers of public budgets, has not achieved anything at the level of reform and sound economic construction, and that it is currently going through severe and stifling economic, political and epidemiological crises due to the spread of the Corona virus in most Countries of the world, including Iraq, and this unfortunately is the reality of the current situation. 
    Al-Nusairi explained that the strategy for the advancement and reform of the Iraqi economy after all these years needs exceptional efforts, programs, mechanisms and government measures in partnership with the private sector and competent national competencies, and the most important is the sincere and real intentions of change towards the desired economic reform. Drawing and implementing a strategy for economic transformation and reform during the next ten years in accordance with Iraq’s 2030 vision. With a focus on finding quick solutions and treatments to enable the elements of implementing economic reform, and that these treatments have a quick effect to create relative stability in the financial and monetary system and restore control over the distribution of public money and get rid of Mismanagement and choosing the right man in the right place will facilitate the way to implement the reform strategy as a central goal that achieves sustainable development.
    Therefore, the Central Bank had its vision and procedures in facing challenges and crises, stimulating and supporting the national economy, through which it adopted clear policies, plans, programs and specific instructions during the years 2020 and 2021 that were analyzed and documented their success paths to revitalize the economic cycle and try to address the repercussions of decreasing the exchange rate of the dinar and its effects on the low-income groups. And revitalizing the economic cycle through a series of lending policies and initiatives.
    Al-Nusairi concluded his speech for this, as the book included two chapters and (25) chapters with a number of (196) pages of medium pieces and an appendix to official documents and regulatory and regulatory instructions to facilitate the implementation of the financing and lending initiatives launched by the Central Bank based on diligence and transparency in presenting the results and achieved achievements.
    And the failures and the opinions of international and local organizations, although we have reservations about some of the visions and treatments contained therein. 
    I hope that the contents of the book will be discussed and studied by academics and experts in the government and the private sector, and the analysis, visions, proposals and treatments contained in it will be discussed and studied to overcome our economic and banking crises on the desired path of reform. To receive their copies of the book as a gift from me.
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