World Bank, Iraq work to restructure banking as Iraq lobbies for international support for its exit

World Bank, Iraq work to restructure banking as Iraq lobbies for international support for its exit from CH VII


Research and Planning Minister and Minister of Finance and agency Prof. Dr. Ali Yousef Shukri with a delegation from the World Bank restructuring Rafidain and Rasheed, His Excellency said in a joint news conference «We received a delegation from the World Bank and discussed with them the implementation of the program in Iraq.

Stressing that this program is a grant from the World Bank and includes two axes to restructure the Iraqi banks فالمحور first reinforces the development of human capacity because management banks must keep pace with the latest developments in the world and the other side focuses on the problem get out of debt accumulated or dead is old debt that not solve it today, which weighed and still weigh the shoulders of the Iraqi banks also discussed the main mechanism of action for the implementation of this program.

Explaining that the Ministry of Finance would be willing to provide all necessary facilities for this program and continued, today we have to work with all international organizations and specialized international agencies because Iraq needs these options being over three decades and more has been subjected to ignorance too stressed to say, our banks think that mission accepting deposits and lending non-interest stressing that the global banking system is supposed today is to be more sophisticated and more expansive in the area of work lending and borrowing.

and added all efforts today pour the development of the banking system and monetary will be channeled to support service value of Iraqi dinar, saying «that support the value of the Iraqi dinar not the banking system applicable only being governed by several considerations, including stocks state of currency and gold, as well as quantities of oil exports and the stability of the economic situation as well as the political situation and the Ministry of Finance will not hesitate to take any step evolution of the banking system for the development of the value of the Iraqi dinar never believe that this is a national task .. and that the World Bank has not been raised on Iraq raise the price of oil derivatives and pointed out that any economic openness requires that accompanied the expansion of banking activity, indicating that part of the plan of the Ministry of Finance and the government develop a plan for the expansion of the private sector banking and explained that there are strenuous efforts made ​​by the Government in all international forums and mobilize Arab and international community to support the positions of Iraq out of Chapter VII.

He pointed out that the government has formed a committee for the protection of Iraq’s money headed by Deputy Prime Minister for Economic Affairs and membership more than one sector, including the ministries of planning, finance and trade, as well as the CBI and the legal advisor to the Prime Minister, where presentations were made ​​to the Iraqi government to protect their money, stressing, he was looking at these offers that the biggest guarantee for the protection of money and efforts are continuing to get better alternatives.

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World Bank, Iraq work to restructure banking as Iraq lobbies for international support for its exit from CH VII

To bad as they will be in the evil system, just like the rest of us... :(