Iraq joins the membership of an Islamic institution for investment insurance

Iraq joins the membership of an Islamic institution for investment insurance  

   
13/6/13 12: 00 am

Economic capacity development indicators

Baghdad-Mostafa Hashemi
Iraq's accession to the organizations and financial and economic blocs are important for the economy of the country, and in that regard stressed the economic importance of subsidiaries in regard Iraq's accession to the financial institutions and banking organizations and regional Arabic its impact on economic relations between the Member States, at the same time, advisers to the importance of studying the subject of accession and relevant sectors to develop and update their capacity and keep pace with global progress
The Central Bank of Iraq announced earlier for the government's approval on Iraq's accession to membership of the Islamic Corporation for the Insurance of Investment and Export Credit, returned that the decision will contribute to the increase in Iraqi exports and the inflow of foreign investments. He said in a statement that the government had agreed to join the membership of the Islamic Corporation for the Insurance of Investment and Export Credit (PE), "adding that" the institution has agreed to accept Iraq is a member. He added that this decision would contribute to increased Iraqi exports and the inflow of foreign investments to it, as well as the protection of investments Iraqi in the Member States of the institution. On the other hand said economic Mona earthquake: that the issue of joining any gathering or conglomerate financial and banking Arabic or regional must begin the readiness of evolution includes a series of reforms to work contexts that may hinder the process of investment and the most important reform of the banking system. indicated in a statement (morning): that any accession must be considered carefully because the study that will develop capabilities sectors of the economy, the most important private banks. stressed earthquake that he should to evolve our sectors of economic because it represents the entrance real investment and start to enter the Iraqi market, to Avcth need to be serious and the desire to exist., and expressed the hope that such hookups formality and protocol because it is in this case اتفيد the Iraqi economy in something while the implementation of the preparations for accession would raise the efficiency of the country's economy through the exchange of experiences and the consolidation of economic and trade relations between Iraq and the rest of the countries in these blocs or groups.
Economic expert confirmed that Iraq's accession smeisim peace for regional economic and financial organizations would support the financial and banking sector. The (morning) that Iraq needed to keep pace with international developments in banking and money transmission speed between the countries of the world, through agreements with Arab economic organizations. The world viewed Iraq as a promising investment market it needs to develop the banking sector to facilitate the transfer of funds to and from the country and the Islamic Corporation for insurance of investment and export credit was established in August 1994 and comprises 39 Muslim country except Iraq, aiming to expand trade and encourage the flow of investments between the Member States in accordance with the Islamic Shariah.     



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