He emphasized that the world today lives on economic blocs…..the Sudanese advisor identifies the mos

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[size=52]He emphasized that the world today lives on economic blocs…..the Sudanese advisor identifies the most important requirements necessary to strengthen the financial system in Iraq[/size]

[size=45]He emphasized that the world today lives on economic blocs…..Sudani’s advisor sets out to “Al-Zawraa” the most important requirements for strengthening the financial system in Iraq. Mustafa
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Fleih:
The Sudanese advisor for financial affairs, Mazhar Muhammad Salih, identified the most important requirements for strengthening the financial system in the country, while he confirmed Iraq is in dire need of cooperation with the international financial system.
Salih said in an interview: “The issue of Iraq joining the global financial system is not recent, and it has an extension, and Iraq since it became a member of the League of Nations in 1932 and then a member of the United Nations in 1945 belongs to all organizations sponsored by the United Nations and at the head of these organizations It is the International Monetary Fund and the World Bank, in addition to the World Trade Organization in 1947. Adding that "these financial, commercial and economic organizations are multilateral and coordinate financial work within the international community, and their purpose is that what benefits the world benefits Iraq and the collective benefit benefits Iraq and strengthens it in the institutions of the international group."
He stressed that "the world today lives on economic blocs and lives on large organizations whose benefits are greater than isolation in small markets."
And he indicated that “Iraq, when it became a member of the International Monetary Fund and the World Bank, has contributions, and it is not a large contribution, but part of Iraq’s capabilities are in these organizations and this process allows it to borrow and participate in decision-making, support and assistance, that is, mutual benefit, and today Iraq if it is exposed to something.” The Fund and the World Bank will provide assistance and emergency technical aid,” citing, “For example, when the debts of the Paris Club were extinguished in 2004, we extinguished more than one hundred billion US dollars that were owed by Iraq out of a billion that are the debts of the former regime, and it was with the help of the Fund.”
He pointed out that he "played a major role in preparing the situation for Iraq and supporting it to enter the Paris Club, and the fund's gate is a gateway to the Paris Club of which we are members."
He stressed that "Iraq is in dire need of cooperation with the international financial system because there are so-called information banks and knowledge banks in the sense of receiving technical assistance or advice and obtaining an answer, and previously we were asking for an economic opinion on a case from the World Bank as well as the submission of these organizations development projects in relation to accounts, payment systems, and transactions.
And on the requirements of strengthening the Iraqi financial system, he indicated “defining the financial, accounting and governance systems, and this is important, and we must keep pace with the world in development in introducing modern technologies and what is called compliance, and in the field of money control, flow, development, and institutional development,” stressing that “Iraq is within with the world in this topic, and there is advice and exchange of information.[/size]
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