Samir Abbas Alnasiri *: monetary policies in Iraq and proposals for the next phase applications

• Formulation and implementation of monetary policy, including exchange rate policy
  
  

• Retention and management of all foreign reserves
  
  

• Management of government reserves of gold
  
  

• Issuance and management of the Iraqi currency
  
  

• Monitoring and enhancing the safety and efficiency of payment systems
  
  

• Awalajazac issuing licenses for banks and the regulation and control of banks as defined in the Banking Act No. 94 of 2004.
  

• Reduction of inflation
  

• Maintain a cash balance of the market
  

• Retention and management of foreign reserves (foreign exchange and gold)
  

• Currency reform management system
  

• That the Central Bank of Iraq to re-plan and future policies of cash until 2020 with confirmation of its main goal of dealing with inflation and achieve the planned growth in the contribution of the banking sector in the GDP and the central economic task as well as it is necessary to search for new policies to achieve this goal and allows the government and private banks to participate in growth and investment in accordance with the mechanisms and policies can be implemented without the imposition of strict policies and give sufficient elasticity.
  
  

• Address the apparent gap between the financial policies of the state and monetary policies adopted by the Central Bank of Iraq and the requirements of the fight against inflationary pressures and reduce the current expenditure and coordination of plans and programs to achieve the rescue of the Iraqi economy from financial collapse.
  
  

• Activation of the Iraqi Central Bank's policy control over monetary policy in the private banking system to support and reconsider the policies of lending and the mechanics of credit risk management in the granting of credit to small and medium investment and loans in production and investment sectors that check clear cash flow and revive the economic cycle, which would contribute to the economic development and diversification of financial resources the general budget.
  
  

• The Central Bank of Iraq to reconsider study the possibility of lowering the cap timeout law of the volume of deposits in banks and frozen with the Central Bank of Iraq without investment as these frozen funds can invest and benefit from the support of private banks and enable them to expand their investment activities and the search for new banking products also requires the development of mechanisms for lending to banks, which suffer from a severe liquidity crisis due to the general economic situation that Iraq is going through.
  
  

• Development and support and stimulate the Iraq Stock Exchange and to find the means and tools that push and effective market and companies index prices in line, assets and standard output and profits by at least inevitably about the true value of stocks and prevent speculation that harm Iraq's asset-which does not fit the true and actual value.
  
  

• The Central Bank of Iraq to reconsider the instructions for auction foreign currency and regulate the sale of dollar process and define the role of banks in the mediation between the customer and the central bank in addition to determine the responsibility of the Ministry of Commerce and Ministry of Finance and the Ministry of Planning in the irregularities committed by some customers and not to download only the responsibility of the banks.
  
  

• The establishment of (fund) or (a private portfolio) to certificates of deposit issued by banks wishing to address the deterioration of stock prices in the Iraq Stock Exchange and the addition of new banking management of the current investment investment climate in the market to stimulate as well as increasing the volume of bank deposits, which leads to increased investment activities in all sectors of the economy and thus achieve positive impact for investors.
  
  

• The boards of directors of banks in approving operational risk strategy and implementation of the executive management of the bank to ensure that the operational risks associated with all types of banking products selected. And provide a base of information flowing in the bank, which play an important and key role in establishing and maintaining effective framework for operational risk management and follow-up over the possession of the banks an effective system for identifying, measuring and monitoring operational risk as part of risk management.
  
• And the Central Bank is preparing a regular and independent assessment of the strategies, policies and procedures for bank-related operational risks and the adoption of this regulation as a basic criteria for assessing banks and classification
  
  

• Reconsider a provision for doubtful debts in accordance with the list of guidance and re-elasticities and extended extra time for banks to be able to liquidate these debts, most of which go back to earlier periods and most debtors have migrated outside their cities Iraq for security reasons beyond their control and that these ratios lead to a cut in the profits realized actually result These percentages deducted from net profit and thus affect the new investment banking activities.
  
  

• Restructuring of the banking sector, especially the government banking sector and to study the privatization of some of its divisions, branches and work on activating the operating banks expand and diversify their banking services especially to increase credit and investment share in a balanced manner with revenues of college to become these banks an effective pillar of economic growth that the move away from the monopoly of some banking operations and the withholding of government activities and public institutions for private banks.
  

the promotion of exchange of the Iraqi tastiest dinar price peppered strong effects

duck2000 wrote:next phase starts jan 1st!