Symposium: private banks need to strengthen their links with the Central Bank and the public
07/01/2013 09:09
People
are interested in the economic reasons behind the decline performance
of the banking sector private and public, to افتين to banking that lack
of awareness among the public and poor communication between banks and
customers most prominent reasons for the decline in the growth of this
vital sector, which he can achieve investment renaissance can check significant
economic gains for the country,
calling for the need to reconsider the
legislative framework for the work of private banks and mechanisms for
dealing with the Central Bank of Iraq, and involved stressed the
importance of increasing cooperation and interaction between financial
institutions and the Iraqi market for securities and banking system ,
announced general manager of statistics and research at the central
bank and Walid Idi Abdul Nabi said government banks' capital witnessed
consecutive increases to reach until the end of October of last year
2012 (754) billion dinars, compared with (4.053) billion
dinars for private banks, at a time where investment balances in banks
operating in Iraq (5.947) billion dinars, (4.929) of government banks,
versus (1.018) billion dinars for private banks up to 31/10 / 2012.
Concerned
discussed during the annual scientific symposium organized by the
Department of Economic Studies at the Center Mustansiriya Arab and
International Studies and titled (the private banking sector in Iraq and
development role in the economy), four research made by experts and are
interested in economic affairs focused as a whole the
importance of following the government more interest in the private
banking sector,
and to overcome the obstacles that could stand in the
way of growth, as well as to facilitate measures to the establishment of
special development banks, particularly that prepared in Iraq can not
be matched population size nor investment broad,
and as pointed out by the Director General of Statistics and Research
at the Central Bank and Walid Idi Abdul Nabi when stressed during his
paper presented on the sidelines of the seminar low density bank said it
is currently worth up to one bank branch per (42000) people,
which is low compared to the global standard for the amount of one for
each bank (10,000) people, explaining that one of the problems plaguing
through the work of private banks is the predominance of the familial
nature of the Union with property management, as well as the absence of
strategies Banking
actors, as well as the absence of institutions chock of the banking
system, such as an insurance company on deposits, and the weakness of
banking technologies, as well as sagging administrative structure in
many banks, especially government.
IDI
suggested during his set of proposals that can help in the
revitalization of the work of banks in Iraq, keeping on top of those
proposals need to separate owners of the Bank and the Department of
banking operations at the same time, to develop an integrated plan for
banking techniques, and legal reforms, and the development of internal
control systems, and the application of standard disclosure and
transparency by banks and financial institutions.
Configure the cash activity
According
to Professor of public finance at the Faculty of management and
Economics at the University of Mosul, Dr. Hashem Mohammed alarqub during
the search which took part in the Symposium, entitled (the importance
of assessing the financial performance of the private banks in financing
investment activity) that commercial banks of important institutions be
cash activity and the heart of the financial system as a result of the
monetary and financial events that contribute to stimulating economic
activity and financing of all economic and social sectors.
Researcher
asserts that the problem lies in the inability of the banking
departments to understand and accommodate the concept of financial
performance and evaluation requirements and stages and their impact on
the performance of its activities.
Alarqub draws to the International
Bank of Kurdistan a model was adopted for theme of his research he
attributed to the adoption of this accounting standard system Bank among
other banks and insurance companies, and its commitment to the rules
and regulations of the Central Bank.
Researcher shows that
despite low volume liquid sample Bank of Northern Research in the years
2008 and 2010, compared with 2007, and wiggle the efficiency performance
proves search concludes, evolution in style and area community banks,
through expanded use of electronic calculator and the use of modern
means and systems appropriate for the performance of banking with the
latest advanced technological methods, such as : Run and several
automated teller machines ATM and POS POS, and renew the world SWIFT
swift system, and use the work transfers through Western Union company.
The banking sector and reconstruction requirements
It
is recommended that Assistant Professor AMR Hisham Mohammed of the
Economic Studies Department at Mustansiriya University Center for Arabic
and international studies, that Iraq needs more than neighboring
economies to the financial and banking sector is characterized by high
efficiency and effectiveness, and to meet the requirements of
reconstruction and potential that can return to normal and the
receivable.
Hisham said during the search to the Colloquium,
entitled (contribution of the banking sector in the Iraqi economy after
2003) the contribution of the banking sector remains weak in the Iraqi
economy despite its upward trend, with only his (1.7 percent) in 2009,
and that Iraqi banks capital remain modest due to several factors,
including the special banks arose at the beginning of the 1990s because
of the economic conditions at that time making it isolated and locked on
the local environment with Economic weakness and decline in living
standards, a requirement that banks, especially Government, to the
process of restructuring, including the number of staff in these banks
and skills required of employees.
Remedies
In turn, Prof.
Sattar Al-Bayati, head of studies in mrksalmstnseret that the Symposium
came out with several recommendations that would enhance the role of the
banking sector in Iraq and increase its role in the investment process
and development, stressing that serious scientific dialogue for the
theme of the Symposium and the content of scientific papers that have
been made have been traded by economists interested in the banking
sector who have participated in the Symposium, said the main discussion
focused on a number of points, notably the :
1. lack of awareness (culture).
2. poor communication between banks and customers.
3.
limited the role of banking in General, especially private banking
activity and weakness in economic indicators and due to the large and
persistent intervention by the State in the economy to being an oil-cash
over (85 percent) of GDP.
4. weak interaction and integration between the Central Bank and private banks.
5. weak interaction between financial institutions and the Iraq market for securities and banking system.
Al-Bayati
said that the symposium concluded the need to re-examine the
legislative framework for the work of private banks and their dealings
with the Central Bank of Iraq.
[You must be registered and logged in to see this link.]
07/01/2013 09:09
People
are interested in the economic reasons behind the decline performance
of the banking sector private and public, to افتين to banking that lack
of awareness among the public and poor communication between banks and
customers most prominent reasons for the decline in the growth of this
vital sector, which he can achieve investment renaissance can check significant
economic gains for the country,
calling for the need to reconsider the
legislative framework for the work of private banks and mechanisms for
dealing with the Central Bank of Iraq, and involved stressed the
importance of increasing cooperation and interaction between financial
institutions and the Iraqi market for securities and banking system ,
announced general manager of statistics and research at the central
bank and Walid Idi Abdul Nabi said government banks' capital witnessed
consecutive increases to reach until the end of October of last year
2012 (754) billion dinars, compared with (4.053) billion
dinars for private banks, at a time where investment balances in banks
operating in Iraq (5.947) billion dinars, (4.929) of government banks,
versus (1.018) billion dinars for private banks up to 31/10 / 2012.
Concerned
discussed during the annual scientific symposium organized by the
Department of Economic Studies at the Center Mustansiriya Arab and
International Studies and titled (the private banking sector in Iraq and
development role in the economy), four research made by experts and are
interested in economic affairs focused as a whole the
importance of following the government more interest in the private
banking sector,
and to overcome the obstacles that could stand in the
way of growth, as well as to facilitate measures to the establishment of
special development banks, particularly that prepared in Iraq can not
be matched population size nor investment broad,
and as pointed out by the Director General of Statistics and Research
at the Central Bank and Walid Idi Abdul Nabi when stressed during his
paper presented on the sidelines of the seminar low density bank said it
is currently worth up to one bank branch per (42000) people,
which is low compared to the global standard for the amount of one for
each bank (10,000) people, explaining that one of the problems plaguing
through the work of private banks is the predominance of the familial
nature of the Union with property management, as well as the absence of
strategies Banking
actors, as well as the absence of institutions chock of the banking
system, such as an insurance company on deposits, and the weakness of
banking technologies, as well as sagging administrative structure in
many banks, especially government.
IDI
suggested during his set of proposals that can help in the
revitalization of the work of banks in Iraq, keeping on top of those
proposals need to separate owners of the Bank and the Department of
banking operations at the same time, to develop an integrated plan for
banking techniques, and legal reforms, and the development of internal
control systems, and the application of standard disclosure and
transparency by banks and financial institutions.
Configure the cash activity
According
to Professor of public finance at the Faculty of management and
Economics at the University of Mosul, Dr. Hashem Mohammed alarqub during
the search which took part in the Symposium, entitled (the importance
of assessing the financial performance of the private banks in financing
investment activity) that commercial banks of important institutions be
cash activity and the heart of the financial system as a result of the
monetary and financial events that contribute to stimulating economic
activity and financing of all economic and social sectors.
Researcher
asserts that the problem lies in the inability of the banking
departments to understand and accommodate the concept of financial
performance and evaluation requirements and stages and their impact on
the performance of its activities.
Alarqub draws to the International
Bank of Kurdistan a model was adopted for theme of his research he
attributed to the adoption of this accounting standard system Bank among
other banks and insurance companies, and its commitment to the rules
and regulations of the Central Bank.
Researcher shows that
despite low volume liquid sample Bank of Northern Research in the years
2008 and 2010, compared with 2007, and wiggle the efficiency performance
proves search concludes, evolution in style and area community banks,
through expanded use of electronic calculator and the use of modern
means and systems appropriate for the performance of banking with the
latest advanced technological methods, such as : Run and several
automated teller machines ATM and POS POS, and renew the world SWIFT
swift system, and use the work transfers through Western Union company.
The banking sector and reconstruction requirements
It
is recommended that Assistant Professor AMR Hisham Mohammed of the
Economic Studies Department at Mustansiriya University Center for Arabic
and international studies, that Iraq needs more than neighboring
economies to the financial and banking sector is characterized by high
efficiency and effectiveness, and to meet the requirements of
reconstruction and potential that can return to normal and the
receivable.
Hisham said during the search to the Colloquium,
entitled (contribution of the banking sector in the Iraqi economy after
2003) the contribution of the banking sector remains weak in the Iraqi
economy despite its upward trend, with only his (1.7 percent) in 2009,
and that Iraqi banks capital remain modest due to several factors,
including the special banks arose at the beginning of the 1990s because
of the economic conditions at that time making it isolated and locked on
the local environment with Economic weakness and decline in living
standards, a requirement that banks, especially Government, to the
process of restructuring, including the number of staff in these banks
and skills required of employees.
Remedies
In turn, Prof.
Sattar Al-Bayati, head of studies in mrksalmstnseret that the Symposium
came out with several recommendations that would enhance the role of the
banking sector in Iraq and increase its role in the investment process
and development, stressing that serious scientific dialogue for the
theme of the Symposium and the content of scientific papers that have
been made have been traded by economists interested in the banking
sector who have participated in the Symposium, said the main discussion
focused on a number of points, notably the :
1. lack of awareness (culture).
2. poor communication between banks and customers.
3.
limited the role of banking in General, especially private banking
activity and weakness in economic indicators and due to the large and
persistent intervention by the State in the economy to being an oil-cash
over (85 percent) of GDP.
4. weak interaction and integration between the Central Bank and private banks.
5. weak interaction between financial institutions and the Iraq market for securities and banking system.
Al-Bayati
said that the symposium concluded the need to re-examine the
legislative framework for the work of private banks and their dealings
with the Central Bank of Iraq.
[You must be registered and logged in to see this link.]
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