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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


    Prime Minister's meeting with the Banking Association.. Decisions to support and confirm the role of

    Rocky
    Rocky
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    Prime Minister's meeting with the Banking Association.. Decisions to support and confirm the role of Empty Prime Minister's meeting with the Banking Association.. Decisions to support and confirm the role of

    Post by Rocky Sat 21 Sep 2024, 4:31 am

    Prime Minister's meeting with the Banking Association.. Decisions to support and confirm the role of banks in development 

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    [rtl]The reception of the Prime Minister of the Chairman of the Private Banks Association and some banks was an important and specialized discussion to address the challenges and obstacles of banking work and what has been achieved from the efforts made by the government and the Central Bank in implementing what is stated in the government program regarding the steps of financial and banking reform and emphasizing that there is no alternative but to have solid Iraqi banks that depend in their work on regularity and commitment to international financial and banking standards and that they have a clear contribution to development according to what is included in the investment map in the National Development Plan for the years 24-28 and that they adopt building balanced relations with Arab and international financial and banking institutions.[/rtl]
     
    [rtl]The decision to form a higher committee to address the obstacles to banking work and the Central Bank’s contracting with the specialized international company will certainly be a fundamental step towards developing the banking and financial sector. In order for the decisions of the Prime Minister to be considered supportive of the banking sector, we must clarify that the banking sector has been suffering from failures, challenges and repercussions since 2003 until now related to the loss of methodology, lack of clarity in policies and programs, and the lack of consistency of strategies with the reality of the Iraqi economy, which has one resource and depends mainly on oil revenues, which has led to a structural and structural imbalance in the economy and a lack of stability in the financial and monetary system.[/rtl]
     
    [rtl] Due to the deficit in non-oil revenue, the deficit in the balance of payments, the deficit in the general budgets, and the lack of coordination between fiscal and monetary policies, in addition to the mismanagement of public funds. There is also the lack of real support for the private sector in general and the private banking sector in particular, and not giving it an effective role in making economic decisions.[/rtl]
     
    [rtl] As far as I know about economic, financial and banking affairs and the executive procedures for monetary policy applications, the government and the Central Bank played a major role during the years 2023 and 2024 in developing and implementing effective measures for economic and banking reform, activating the economic cycle, regulating foreign trade financing, activating programs for the transition from a cash economy to a digital economy, restructuring the government banking sector, developing plans to restructure the private banking sector, re-extending coordination bridges between financial and monetary policies, proposing economic and structural policies to prepare and present general budgets for the coming years, and attempts to restore confidence in the banking system.[/rtl]
     
    [rtl]While we support the reform policies and programmes of the banking sector, we stress the necessity of involving representatives of the private banking sector in the Economic and Financial Reform Cell in the Council of Ministers and for banks to be represented in the Ministerial Council for the Economy and the central committees specialised in banking activity working in the Council of Ministers, because achieving sustainable development, financial sustainability, diversifying national income resources and stimulating the real sector of the economy requires banking financing that begins with financing small, medium and micro enterprises.[/rtl]
     


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