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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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    Expert propose to the government a plan for the development of the banking sector and to reconsider

    Rocky
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    Expert propose to the government a plan for the development of the banking sector and to reconsider Empty Expert propose to the government a plan for the development of the banking sector and to reconsider

    Post by Rocky Sun 21 Sep 2014, 7:16 am

    Expert propose to the government a plan for the development of the banking sector and to reconsider the institutional building of the economy

    09/19/2014 12:19


    BAGHDAD / Aswat al-Iraq: The proposed banking expert Samir Abbas Alnasiri, on Friday, the government's new plan for the development of the banking sector

    And re-examine the institutional and structural construction of the Iraqi economy in order to promote the government's obligations in the application of basic economic curriculum during the next four years.

    The cradle Alnasiri, which Executive Director oldest of Gulf Commercial Bank, for his 14-paragraph, saying that "the Iraqi banking sector today is a mainstay for the construction of a national economy free strengthens the foundations of the Iraqi state and push it towards the process of economic growth and stability," persisting "as the building This sector on the basis of a strong and robust and based on scientific planning and the use of modern technologies and full of competence and experience and confidence of national capacities creative, especially if this sector that could contribute to the development and investment in terms of construction and economic growth. "

    "The Iraqi banking sector is a vicious financing the first and the main activities of the investment and that the current stage, particularly during the period of the next four years from the age of the new government requires today, more than ever, opening the way for banks to work with ease, flexibility and effectiveness of the contribution in support of investment because they are the main nerve the growth and evolution and development. "

    He continued, "All the studies and reports issued by the World Bank and the International Monetary Fund and the Ministry of Planning and the Central Bank of Iraq confirms the weakness of the contribution of the Iraqi banking sector in the development and investment for reasons of self-regarding the management and structure of the banking business in Iraq and objective reasons related to the reality of the Iraqi economy rentier and contexts and mechanisms of hybrid and dispersed among the market economy and between the centralized economy, where the problems of the Iraqi economy are many and complex and there is overlapping and mixing between the mechanics of the transition to a market economy according to Maahart him Article 25 of the Iraqi Constitution and between controls and selectors and the laws of the central administration of the economy in addition to the lack of security and political stability and economic have all contributed to make for obstacles and many obstacles in the application of the economic approach of the previous government. "

    The expert concluded banking on to say that "required in order to promote the new government duties essential in the application of curriculum economy during the next four years to achieve the introductions and the right foundations for the construction of the national economy and identify sound tracks for the reform and development of the Iraqi banking sector to overcome its obstacles and failures earlier," noting that in order to be done requires the new government to do a series of actions.

    He explained Alnasiri that "requires reconsider building the institutional and structural Iraqi economy to activate the law of economic reform after the involvement of the private sector in the management, supervision and control and draw public policies and strategies and detailed, as well as the activation of the establishment of the Supreme Council for Economic Affairs, with the participation of a wide range of private sector experts and technocrats, professors and consulting offices and homes experience ".

    He indicated that he must work on the restructuring of State-owned banks and private banks, according to repair outlook reached by the teams and the World Bank experts and bankers Iraqis. "

    He said it was necessary to "re-examine legislation banking in Iraq for the advancement of the reality of banking and in particular the Central Bank Law No. (56) for the year 2004 and the Banking Law No. (94) for the year 2004 and the Law on Anti-Money Laundering No. (93) for the year 2004."

    He stressed the importance of "approving a bill to guarantee deposits, in addition to re-consider amending laws related to monetary policy as law firms and the Securities Law and the Investment Law and the issuance of Islamic banking law."

    He called Alnasiri "to activate and to reconsider the instructions and regulations and guidance on the applications of monetary policy and the development of a regulatory system for the accurate implementation and follow-up is particularly Mai_khas foreign exchange and currency auctions supervised by the Central Bank of Iraq."

    He pointed to the need to work to "strengthen the foreign exchange reserves of Iraq and the reserves of gold and maintain the Iraqi dinar exchange rate and raise the credit rating and focus on attracting investment to Iraq."

    He pointed out that it must also "activate the application of Basel Committee (2,3) and follow-up with the banks and focus on risk management and the application can be applied to the minimum capital requirements and the supervisory review process and market discipline."

    Alnasiri urged to "re-classification of private banks in accordance with the standards of performance, efficiency and the adoption of standards activity Athh approved."

    And the need to "activate the implementation of the system, the exchange of credit information and focus on the immediate establishment of credit bureau and direct him really."

    He also called "for the completion of a project to develop payment systems retail and key national fully in accordance with the schedule sets out to it," pointing to the need to "address the technical gap and secure the legal requirements and technical to hold twinning widespread among government banks and private banks, on the one hand and between international banks on the other hand in order to develop payments system and modernizing the banking and trading operations of financial regulation and monetary where according to the latest modern electronic banking systems. "

    He called Alnasiri government "to encourage banks to open more branches and offices of banking in the various provinces of the country to increase the rates of bank density in accordance with the conditions set by the Central Bank of Iraq and the need for actual according to feasibility studies," as well as "to encourage private banks to provide loans bundled jointly and that surpasses the ability large for the purposes of development lending any of them, thus contributing to meet the demands of this type of loan, especially that the Central Bank of Iraq has allowed this. "

    Urged to work on "the preparation of a new system to ensure control over the companies and financial institutions (non-bank) that deal transfers to foreign citizenship to protect the interests and the fight against money laundering operations using electronic control systems."

    The seal Alnasiri proposals calling "to activate joint action of the Central Bank of Iraq with the Association of private banks in Iraq as a representative of the private banking sector, provided that holds the Association to do their part real and effective and to develop mechanisms for its current work, particularly in the schematic and executive with a focus on areas related to the training and qualification of cadres banking and encourage and dissemination of banking culture and build relationships of cooperation and understanding with the organizations and unions in the banking and financial regional countries and benefit from their experiences in the field of banking reform and development. "

    Recall that previously expert banking Samir Abbas Alnasiri that published a book titled the economic fallout in the countries of the Arab Spring and the Iraqi experience in the application of monetary policy (2004-2013), dealt with in chapters economic consequences of the transformations in the countries of the Arab Spring and reforms and the role of banks, and focused on the repercussions of the financial crisis global economies of Arab countries and Iraq in an era of transformations, as managing editor of the magazine took over (the economic file), a monthly magazine dealing with the affairs of finance and economy.

     

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