Alnasiri: calls for the adoption of a new methodology for the reform and development of the banking

by **Rocky** Tue 06 Dec 2016, 4:18 am

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Alnasiri: calls for the adoption of a new methodology for the reform and development of the banking

by Rocky Tue 06 Dec 2016, 4:18 am

Alnasiri: calls for the adoption of a new methodology for the reform and development of the banking system

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Economy News / Baghdad ...[You must be registered and logged in to see this image.]

He said banking expert and member of the World Union of Arab Bankers Samir Nasiri, said the Iraqi Central Bank is currently implementing his plan for the next five years in the development of policies, programs and mechanisms work according to what you stated Bstratejath years (2016-2020).
He said Alnasiri in an interview I followed "Economy News" that he was "particularly with regard to the applications of monetary policy and the means of supervision and control of the Iraqi banking sector and this requires that made the study of observations and suggestions are working to address the apparent gap between the financial policies of the state and monetary policies adopted by the Central Bank of Iraq and the requirements counter inflationary pressures and reduce the current expenditure and coordination of plans and programs to achieve the rescue of the Iraqi economy from financial collapse. "
He urged Alnasiri, the bank confirmed its main goal of dealing with inflation and achieve the planned growth in the contribution of the banking sector in the gross domestic Alajamali.alnasiri suggested activation of the Iraqi Central Bank's policy control over monetary policy in the private banking system to support and to reconsider the policies of lending and mechanisms of credit risk management in the granting of credit for small and medium-sized investment, loans and investment in productive sectors that achieve cash flow clear and revive the economic cycle so as to contribute to the economic development and diversification of financial resources of the public budget.
He pointed out the importance of the Iraqi Central Bank to reconsider studying the possibility of investing sums up the legal deducted from capital in banks, indicating that the frozen funds can invest and benefit from the support of private banks and enable them to expand their investment activities and to search for new banking products also requires the development of bank lending mechanisms suffering from a severe liquidity crisis due to the general economic situation that Iraq is going through.
He called the development, support and stimulate the Iraq Stock Exchange and to find the means and tools that is pushing to raise the market and companies index prices in line, assets and standard output and profits, at least definitely for the true value of stocks and to prevent speculation that harm the Iraqi assets which does not fit the true and actual value. He preferred Alnasiri the Iraqi Central Bank to reconsider the instructions for the organization selling the dollar and define the role of banks in the mediation between the customer and the central bank operation, in addition to determine the responsibility of the ministries of trade, finance and planning in the irregularities committed by some customers and not to blame for the banks Vqt.wachar to the importance of the establishment ( Fund) or (portfolio private) certificates of deposit issued by banks wishing to address the deterioration of stock prices in the Iraq stock Exchange and the addition of new banking management of the current investment investment climate in the market to stimulate as well as increasing the volume of bank deposits, which leads to increased investment activities of all economic sectors and then to achieve positive impact for investors, pointing to the establishment of boards of directors in banks approving strategy, operational risks and implementation of the executive management of the bank to ensure that determine the operational risks associated with all types of banking products.
And provide a base of information flowing in the bank, which play an important and key role in establishing and maintaining effective framework for the management of operational risks and follow up on the extent to which banks and an effective system for identifying, measuring and monitoring operational risk as part of risk management.
He stressed to reconsider the provision for doubtful debts in accordance with the list of guiding and re-elasticities and extended extra time for banks to be able to liquidate these debts, most of which go back to earlier periods and most debtors have migrated outside Iraq for security reasons beyond their control and that these ratios lead to a reduction in the profits accruing actually a result of the deduction of these percentages of net profit and thus affect the new investment banking activities.
He concluded his speech by emphasizing the restructuring of the banking sector, particularly the government banking sector and to study the privatization of some of its divisions, branches and work on activating the operating banks expand and diversify their banking services especially to increase credit and investment share in a balanced way with the revenue total to become these banks effective pillar of economic growth that the move away from the monopoly of some operations banking and blocking government activities and public institutions for private banks.
He concluded his speech by calling Alnasiri in the Iraqi Central Bank to activate the mechanisms for achieving the goal of developing the banking business by restoring public confidence in the banks because of the special liquidity crunch experienced by some banks. This requires re-evaluation and classification of banks in the light of the financial results and take corrective and remedial action to save the banks from collapse and to ensure the return of customer deposits to them as well as to ensure equity.

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