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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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    Conference sponsored by wise opens fire on the Central Bank and Iraqi banks describes the more backw

    Hkp1
    Hkp1
    Hkp1
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    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    Conference sponsored by wise opens fire on the Central Bank and Iraqi banks describes the more backw Empty Conference sponsored by wise opens fire on the Central Bank and Iraqi banks describes the more backw

    Post by Hkp1 Sat 09 Mar 2013, 12:38 pm

    Conference sponsored by wise opens fire on the Central Bank and Iraqi banks describes the more backward in the region


    Author: HAM
    Editor: BK, NF
    13/03/09 18: 58


    Range/Baghdad

    Politicians,
    bankers, attacked Saturday fiscal policy in Iraq, and said the
    country's banking system is the "most backward" between the States of
    the region, while the Central Bank orientations of private banks have
    made "irregular and without, so officials attributed to many internal
    challenges and political environment producing crises and non-reassuring
    messages to the world, stressing the need for the $ 1 trillion to
    stimulate the economy, and that" corruption "of the administrative and
    bureaucratic procedures in some institutions" turned to ways to
    blackmail. "

    The first annual Conference of businessmen in Iraq,
    held at the headquarters of the Islamic Supreme Council in the capital,
    in the presence of a group of bankers and businessmen, attended by
    (range).

    Al-Hakim: Iraqi banks in the most backward region

    Head
    of the Islamic Supreme Council Ammar al-Hakim in the Conference call,
    that "Iraq has is the most backward banking system among the States of
    the region," adding that "banks have no capital and did not adopt
    international standards in their work."

    Al-Hakim, said that "the
    reality of State banks is bad and is mired in red tape and far from mere
    development funds for the transfer of Government funds and distribution
    of grants and salaries", stating that "Iraq is facing a big problem in
    the first episode, in the economy and the banking system is not
    effective activities to book profits."

    He asked Chairman of the
    Islamic Supreme Council, on "how to build a strong private sector in
    Iraq, requested that the risks and risks all his capital in economic
    projects, without providing security", pointing out that "the need is
    urgent to update the administrative and accounting legislation and
    protect the private sector from unfair foreign competition.

    Relationship: non-reassuring messages to the world

    His
    statement the Secretary-General of the Council of Ministers in his
    relationship with Congress, "classification of the World Bank in a
    recent report for Iraq that ranked 156 out of 185 States on reform and
    progress measurement procedures and labour legislation".

    The
    relationship, he said, that "Iraq faces many challenges due to the
    political crisis and producing non-reassuring messages and influencing
    the legislative environment in slowed down with a crippling laws for km
    work", saying that "corruption and cumbersome government procedures and
    bureaucratic in some institutions turned to ways to blackmail."

    The
    Secretary-General of the Council of Ministers, "when we speak of the
    reforms required in institutional environments we are talking about the
    need to reform the administrative leadership, organization, and is not
    provided by the political environment and possibly even negatively."

    Al-araji: $ 1 trillion to stimulate the economy

    The
    President said the national investment Commission, Sami Al-araji, in
    his speech, that "the report of the World Bank involved non-reliable
    information that some institutions did not initiate the release of
    information that is difficult for the investor and businessman," adding
    that "Iraq had put the five-year plan for the years 2013-2017 and then
    the second" five-year plan.

    Al-araji, said that "preliminary
    calculations indicate the need for between 700 million to $ 1 trillion
    to activate various economic sectors", indicating that these amounts
    come from oil and gas imports and economic sectors and foreign and
    domestic investment.

    But the words, has angered many of those
    present, including the Chairman of the Board of Directors of the Bank of
    the Iraqi economy, Hossam Obeid, who openly expressed his frustration
    about the "do not allow him to put up his remarks," and then proceeded
    to leave the Conference Hall.

    Private banks: Central Bank around for anomalous entity

    By
    contrast, said Managing Director of the country's Islamic Bank, Iyad
    al-Yahya, that "the private sector has not received any attention of
    Government," returned "the Iraqi banking sector lags behind for over 50
    years the World Bank special needs the support of the State while still
    governed by laws.

    Yahya said that "Iraq's imports are deposited
    in good government and banking", describing the private banks that they
    are "atypical and not her dad-particularly the Central Bank applies
    stringent" systems.

    He called the Managing Director of the
    country's Islamic Bank, the "legislation law regulating Islamic
    banking", he says that "private banks are now investing in their
    capital".

    Yahya said, that "the State is fighting private banks
    and no deposit where funds", noting that "Bank country warrior by the
    State because of its investment projects in Najaf and Basra.

    And
    Managing Director of the Islamic Bank of the country, Baghdad "has
    transformed the land bank for housing project to a rubbish dump costing
    cleaned now more than 100 billion dinars," bomber "CBI only on the
    auction currency.

    Yahya, suggested that "Iraq needs per day to $ 300 million, while the Central Bank spent only 70 million."

    And
    Managing Director of the country's Islamic Bank, Iyad al-Yahia, to
    finish his speech at the request of the management of the Conference
    with "rah die and they see off me from its Central Bank" (die and they
    see off me because of the actions of the Central Bank).

    The Iraqi
    Parliament approved in October of 2006, Iraqi investment law that was
    said then it would open the door wide to foreign investment by providing
    a lot of facilities to foreign investors, many foreign companies still
    hesitate because of fear of unstable security reality in Iraq, adding
    that bureaucratic procedures and other obstructive problems including,
    inter alia, with regard to the allocation of land, and the weakness of
    the financial and banking infrastructure, to name a few.

    Has made
    amendments to the law as the most important of these amendments
    relating to "give the Iraqi and foreign investor the right to own land
    for housing projects.

    The private sector has seen a great decline
    after 2003 due to increased government support and private industrial
    sector from which most of the plants and factories stopped work due to
    its inability to compete with subsidized imports come from countries
    which are not subject to fees.


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