Workshop to discuss ways of enhancing the private sector

8/3/2015 0:00

Abilities achieve economic viability of the country
Arbil - Sundus Abdul Wahab
Examined the Association of private banks in Iraq, the role of banks in the private sector development in the presence of a representative of the Iraqi Central Bank and a representative of the House of Representatives and the heads of the management boards of private banks and managers of Commissioners and a number of economic experts at a workshop organized in the province of Arbil.

Financial distress

Executive Director of the Association of private banks in Iraq, Tariq vacationer said in a statement (morning): This workshop was held in order to discuss and consult and formulate opinions with specialists in the banking sector in light of the worsening current situation and financial distress plaguing the country, because of lower oil prices, ".oshdd the importance that the private sector has a big role in the economic development process, both in the industrial field or farm, as well as commercial and this is not only in the case of the role of the banking sector development, in particular, is the backbone of the economy and the prime mover of the private sector and when they grow the banking sector is leading to the development of other sectors, especially that the banks are supporting projects in various sectors.



Work environment

And the vacationer that the last two months have seen decisions leading to the activation of the banking sector to create a better working environment and a real role and then we hope that during this year there will be a large role for private banks, which will impact on the economic development in other sectors.



Inventory

And on what came to him some of the private banks in the provinces of Nineveh and Salahuddin because of the dominance Daash by the Director General of the banking and credit control in the Central Bank of Iraq and Walid Eid Abdel Nabi said (morning): "The central work of the inventory on assets through bank management and wait for editing areas and the development of appropriate solutions, especially as the funds in those banks large and significant. "

Problems and Solutions

For his part, Commissioner for market Arbil Securities Shirvan Anwar Director told (morning) "This workshop came on the sidelines of the conference held by the Federation of Chambers of Commerce in Iraq and the region with the Iraqi and British Business Council in order to get out of the problem facing the country because of the deteriorating economic situation and the need to find alternatives and promotion of the private sector in general and banking in particular. " He added that the major challenges facing the banking sector due to lower oil prices and the security crisis and the concomitant deterioration, so we are trying through this workshop in collaboration with the Central Bank of Iraq and financial institutions in the center and the region out of this crisis by the financial problem.



Overcoming obstacles

For his part, noted consultant in the field of administration of economic and strategic Nabil virgins (morning) that the Association has an active and growing role in the recent and most important what has been put forward in this session of the workshop is suffering banks and ways to overcome the obstacles and difficulties.



Economic Development

And between Aladhiraa that private banks represent an important detail in the economic development, especially with the decline in the role of government because of low government revenues and the lack of income from oil and large crises because of the war against terrorism and the resultant and all that pays the government to think Bbdaúl.waodh The closest alternative is to promote the sector private banking and financial re-regulate the sector, which suffered from neglect, especially that we have a large number of private banks and has assets and branches and can promote the economic and financial reality in the country.


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