Writer and book (the reform of the banking sector, the first step of economic reforms in Iraq)

Recently released a banking expert Samir Abbas Alnasiri new book marked (reform of thebanking sector , the first step of economic reforms in Iraq) has stated in the introduction to the book writer offer the tenor of the chapters , a reformist approach and realistic for the Iraqi banking sector.

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 to play sector banking your role decree to him within the centralized economic system, an experience that has had its causes and justifications of objectivity and subjectivity has increased the number of these banks and evolved its activities from year to year in conjunction with the government banking sector so that the proportion of their contribution to economic development and the gross domestic product, up to 8% in 2013 amounted to Although this figure is modest compared to the neighboring countries, the 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 until 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 has been one way or another contributed to the achievement of monetary stability and the reduction of hyper-inflation and maintaining exchange balanced Iraqi dinar price despite the volatility in the cash market and speculation, as well as the Iraqi Central Bank was able to good foreign cash reserve construction 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 and to approve 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 banking and is the first step of economic reforms desired.