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Five-year plan for the development of the banking sector
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Three billion dollars granted industrial and agricultural banks, housing the
Baghdad morning 's New:
approved the Central Bank of Iraq for the first time five -year plan completed by 2020 for the development of thebanking sector and the working mechanisms and thecreation of the suffocating financial crisis experienced by the country solutions.
The plan included, five goals to support financial stability and to achieve, and the promotion of thebanking sector , financial institutions and strengthen and develop the organizational structure for «central bank» and its structure. Also devoted two goals for the development of human capital and activation of the internal and external relations.
He said «Central», Ali Mohsen Keywords governor in a press interview, said that «this plan will be more like the first strategy of the bank and put on according to an integrated approach in planning has identified the general objectives and sub-contained projects, programs and initiatives attached schedules for their implementation ».
He added that« a group of local and international professionals contributed to the development ofthis plan as well as the cadres of the bank, and that the working group conducted a thorough analysis of the internal and external environment and diagnosis of strengths, weaknesses, opportunities and challenges , and how to use them during the implementation phases over five years ».
He stressed« Central »Governor of the importance of achieving the five goals and especially stability in domestic prices and maintain a stable financial system and promote sustainable development, as well as attention control and supervision of banks to build an efficient and effective sector as comprising banking institutions , mostly founded during the recent period, and is still far from the modern standards and practices and the diversity of activities , a lack of technologies and programs of modern and qualified personnel.
the Iraq suffers a severe financial crisis due to the adoption of its economy in the likeness of awhole on oil revenues , which have fallen sharply with the decline in global prices, the government has been unable to secure a position to cover public sector salaries expenses, amounting to $ 48 billion, and the needs of the war on the organization «Daash», which the Treasury to incur $ 300 million a day.
the head of the economic and investment commission in Parliament, Jawad al - Bolani, the Iraqi economy is suffering a lot of bugs, because it confuses between Vkran different economists completely two socialist market economy, Even now there is a great management of the state ofdifferent economic sectors with a faltering private sector is trying to replace them , but at a very slow form ».
Bolani said in an interview carried by the « life »international on its website, said that« the other flaw is the rentier economy, even now represent oil revenues , 95 percent of the revenue , and here it is imperative for the state to restructure the comparative advantages of the national economy through the transition to a competitive economy based on a diverse and strong production base enables it to exploit regional and global industrial opportunities ». in
turn, he confirmed an economic expert member of the economic and investment commission inParliament Nora Albejara, that the local economy is suffering a crisis will be the consequences, with all sectors, especially services and small industries sector, there is a scarcity of liquidity resulted in the loss of 40 percent of Iraq 's population , their business and the remainder rely on public sector salaries.
She explained that the committee was keen through coordination with the executive branch and the Central Bank to implement the new policy was to put cash good quantities, most recently granted industrial and agricultural banks, housing four trillion dinars ($ 3 billion), and one billion dollars to domestic banks to give small craft investment projects varied.
and revealed a tendency to adopt a second round lending will be allocated this time for three important sectors are investing in tourism, education and health sector. She said such loans mean the new liquidity in the market and build a movement.
And the plan Albejara made clear that it would be useful if applied properly and said: «but we are in front of previous experiences implemented by the Ministry of Planning and the results weredisappointing».
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Three billion dollars granted industrial and agricultural banks, housing the
Baghdad morning 's New:
approved the Central Bank of Iraq for the first time five -year plan completed by 2020 for the development of thebanking sector and the working mechanisms and thecreation of the suffocating financial crisis experienced by the country solutions.
The plan included, five goals to support financial stability and to achieve, and the promotion of thebanking sector , financial institutions and strengthen and develop the organizational structure for «central bank» and its structure. Also devoted two goals for the development of human capital and activation of the internal and external relations.
He said «Central», Ali Mohsen Keywords governor in a press interview, said that «this plan will be more like the first strategy of the bank and put on according to an integrated approach in planning has identified the general objectives and sub-contained projects, programs and initiatives attached schedules for their implementation ».
He added that« a group of local and international professionals contributed to the development ofthis plan as well as the cadres of the bank, and that the working group conducted a thorough analysis of the internal and external environment and diagnosis of strengths, weaknesses, opportunities and challenges , and how to use them during the implementation phases over five years ».
He stressed« Central »Governor of the importance of achieving the five goals and especially stability in domestic prices and maintain a stable financial system and promote sustainable development, as well as attention control and supervision of banks to build an efficient and effective sector as comprising banking institutions , mostly founded during the recent period, and is still far from the modern standards and practices and the diversity of activities , a lack of technologies and programs of modern and qualified personnel.
the Iraq suffers a severe financial crisis due to the adoption of its economy in the likeness of awhole on oil revenues , which have fallen sharply with the decline in global prices, the government has been unable to secure a position to cover public sector salaries expenses, amounting to $ 48 billion, and the needs of the war on the organization «Daash», which the Treasury to incur $ 300 million a day.
the head of the economic and investment commission in Parliament, Jawad al - Bolani, the Iraqi economy is suffering a lot of bugs, because it confuses between Vkran different economists completely two socialist market economy, Even now there is a great management of the state ofdifferent economic sectors with a faltering private sector is trying to replace them , but at a very slow form ».
Bolani said in an interview carried by the « life »international on its website, said that« the other flaw is the rentier economy, even now represent oil revenues , 95 percent of the revenue , and here it is imperative for the state to restructure the comparative advantages of the national economy through the transition to a competitive economy based on a diverse and strong production base enables it to exploit regional and global industrial opportunities ». in
turn, he confirmed an economic expert member of the economic and investment commission inParliament Nora Albejara, that the local economy is suffering a crisis will be the consequences, with all sectors, especially services and small industries sector, there is a scarcity of liquidity resulted in the loss of 40 percent of Iraq 's population , their business and the remainder rely on public sector salaries.
She explained that the committee was keen through coordination with the executive branch and the Central Bank to implement the new policy was to put cash good quantities, most recently granted industrial and agricultural banks, housing four trillion dinars ($ 3 billion), and one billion dollars to domestic banks to give small craft investment projects varied.
and revealed a tendency to adopt a second round lending will be allocated this time for three important sectors are investing in tourism, education and health sector. She said such loans mean the new liquidity in the market and build a movement.
And the plan Albejara made clear that it would be useful if applied properly and said: «but we are in front of previous experiences implemented by the Ministry of Planning and the results weredisappointing».
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