Book Review Samir Abbas Alnasiri * marked "banking reform first step of economic reforms in Iraq." *

Book Review Samir Abbas Alnasiri * marked "banking reform first step of economic reforms in Iraq." **

- Published in 02/25/2016

Law No. 12 of 1991, which authorized the Central Bank of Iraq to allow private companies to contribute to the exercise of universal banking license and the establishment of private banks with capital returning the Iraqi private sector in order to give [...]

Law No. 12 of 1991, which authorized the Central Bank of Iraq to allow private companies to contribute to the exercise of universal banking and license the establishment of private banks with capital returning the Iraqi private sector in order to give the role of the private banking sector in supporting the national economy during the economic embargo period on Iraq and has become an urgent need that plays sector banking your role decree to him within the centralized economic system, an experience that has had its reasons and justifications objective and subjective. the number of these banks has grown and evolved its activities from year to year in conjunction with the government banking sector until it reached its contribution ratio to economic development and GDP up to 8% in 2013 Although this figure is modest compared to the neighboring countries and standard rates issued by the World Bank for the contribution of the banking sector in development. But the political, security and economic circumstances experienced by Iraq since 2003, and reduce the present time led to obtain crises and failures in the banking business because of the challenges and limitations and obstacles that the Iraqi banking sector suffered during that period Moreover, the banks have not received government support required and not give them the flexibilities needed to work banking and politics militant Iraqi Central Bank in the instructions and the mechanics of policy applications of cash despite the fact that this policy may have contributed one way or another to achieve monetary stability and the reduction of inflation Gamhawwamahafezh to disburse a balanced Iraqi dinar price despite the volatility in the cash market and speculation, as well as the central bank was able to reserve building cash foreign well contributed to good contribution previously and currently being a cover as secretary of the local currency and the guarantee that the overall economic collapse and during the years 2014 and 2015, Iraq presented to the economic crises is critical because of falling global oil prices and carry the war on terror expenses led to that country live a liquidity crisis suffocating in order to adopt Iraq's annual oil resources as a key resource constitutes 93% of the total other resources and the lack of a sovereign fund (government reserves), similar to some of the producing and oil-exporting countries. Which led to obtain a central interest of the government in coordination with the private sector was preceded by popular demands for reform contributed to declare an ambitious economic reform package in order to overcome the current economic and financial crisis and in view of that without building a banking sector that sound can not build a sound national economy, we believe that in order to overcome the economic and our financial crisis must be the Iraqi banking sector reform because it is the first step of economic reforms for it was the contents of this book in your hands from the studies and insights and ideas and proposals and processors on the road to the banking reform proper, where deals with the first section consists of eight chapters talk about banking reform and in accordance with the conditions of objective and subjective current which passes by our country and the solutions and treatments executive and realistic, keeping in mind the current situation and the policies adopted and analyzed down to the reform required the second section consists of eight chapters talk about the reform of the banking sector, according to the economic approach to the government's program for the years 2014-2018 and currently in force, which is trying to government and the private sector activation and implementation within the specified schedule for him . We hope that we have contributed to the activation of the application of the economic reforms which are the port and the main gateway to all other reforms required and the first of these reforms is the reform of the Iraqi banking sector and I hope that will be written this is a reformist program of realistic and fit the application because its content is stems from the study and analysis of the reality experienced by Iraqi banks in the current economic conditions and proposals for reform of the bank which is the first step of economic reforms desired.

(*) Researcher and economist

(**) book for Union of Arab Banks in 2015 released