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Earnest desire of the international Arab bankers cooperation with Iraq

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Earnest desire of the international Arab bankers cooperation with Iraq

Post by Hkp1 on Mon 14 Jan 2013, 1:52 pm

Earnest desire of the international Arab bankers cooperation with Iraq

14-01-2013 10:42 AM

a member of the Committee on the economy and investment parliamentary
Nora البجاري efforts that culminated in the holding of the Forum Baghdad
economic and banking, which embraced Iraq earlier this week, calling
for the need to apply what took him out the confluence of the
recommendations confirmed that it is necessary to revive the banking
reality, stressing the importance to seek all government agencies
passage of laws do your banking business and gives more confidence to
enable it to play a vital role in Iraq's economic system in general.

has seen embracing received economic and investment Arab organized in
collaboration between the Central Bank and the Federation of private
banks and the Union of Arab Banks and the International Union of Arab
Bankers, and was attended by many specialists in the economic and
financial as well as officials in the institutions of government
economic and members House of Representatives, as well as
representatives from a number of institutions Arab economic.

stressed the recipient held over two days on the importance that the
government is seeking to Iraqi develop the banking system, especially
private, and given a prominent role in the economic process, and praised
the efforts government efforts to attract more investment to Iraq,
افتين that these investments and international companies need urgent
into banking Mntoma able to meet all their banking needs, which backed
البجاري when stressed that the government will reconsider some of the
laws that taken on the prevention of the official institutions of
cooperation with private banks, indicating that it could reflect the
effects of the significant negative impact on the functioning Iraqi
banking in general,

calling at the same time the Ministry of Finance to
cancel its decision to stop dealing with government departments, private
banks, memory that duty now to enact laws that facilitate and develop
the work of private banks do not hinder progress.

And disclosed
البجاري about the existence of a draft law is studied now in the House
of Representatives will work if passed on the advancement of the work of
private banks, especially the proposed law will provide fertile ground
for dealing with these banks, demanding at the same time the need to
implement the recommendations that came out of the conference on the
ground and turn important them to economic laws can contribute to
increase growth rates in Iraq. was general secretary of the Union of
Arab Banks and Sam Fattouh praised the government's measures adopted in
the country and efforts to bring economic change commensurate with the
possibilities of Iraq human and financial, pointing during a speech to
the forum held under conditions Arab precision,

and Central مخاضات Arab
Spring, warning that the economic situation will worsen during future
periods as a result of the global economic crisis, calling on Arab banks
to take further measures to counter what object methods provided and
increase capital funds, especially the fight against corruption,
unemployment and money laundering, pointing out Iraq is a country rich
able to bring in more investment companies thanks to the great efforts
made by the government in order to develop the economic reality in
general and banking in particular,

and as expressed Fattouh ready system
Arab Banking to provide various kinds of support to Iraq in order to
revive the fact investment in it, announced that rates GDP in the
country amounted to $ 132 billion last year, expecting a rise to the
limits of $ 154 billion during the current year, noting that Statistics
owned by Union of Arab Banks expect to achieve Iraq high growth rates
have not notified by any of the countries the world this year, pointing
that these statistics approached the limits of 14.7 percent.

said economic expert sword Hilfi that this event holds the important
lots including Sbivh to the domestic banking sector of positives at many
levels where you find the delegations of Arab and Ajnah present to the
forum and all these delegations in store ideas sophisticated help to
promote economic reality domestic banking first and sectoral Second,
pointing out that the gathering bank of this size regulated in Iraq for
the first time is the first step on the road to start a new phase,
especially that Iraq is one of the first countries that established the
Union of Arab Banks, but policies of the former regime prevented
continue Iraq with the Arab Union and it led to a decline in the banking
sector at a time when the Iraqi banking products doubled a lot about
what is available in Iraq.

He added that the case has changed and
attempts Avenue to promote the reality of local banking in particular
directions for the advancement of economic sectors local can not be
achieved without providing banking system developed provides the
requirements of the investment process and free economy in general of
advanced banking services and fast, and indicated that he was to reach
agreements with the Arab delegations participating to build bridges of
communication and the first phase will do the channels of communication
in the field of open letters of credit and direct investment process
within Iraq and then track the operations of the cooperation over the
wider benefit to the local economy.

He pointed out that the
importance of the financial sector stems from being a first gate for any
recycling Mali, noting that the Iraqi side and during the conference
touching a serious interest in Arab cooperation of an international
financial sector Iraqi because they realize the importance of Iraq on
the global economy and the attributes of the wealth is invested need to a
sophisticated banking system when investing in them.

He hoped the
managing director of the Federation of Iraqi banks Manaf Badri Hassoun
to come out recommendations of the conference to achieve the goals of
proportions strategy fit and aspirations to ensure building economic
policy balanced and draw a stable monetary policy keeps Iraq from
economic fluctuations expected during future periods and put financial
and banking sector on the right track, which can be positioned to
benefit from the experiences of Arab countries.

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