New procedures to do the role of banks in the development process

30/07/2012 0:00

Session focused on the importance of partnership between public and private sectors
Baghdad Yasser incumbent

Considered the experts and bankers are interested in the reality of the banking sector in Iraq during the work session breakfast attended by deputy central bank governor d.

The appearance of Mohammed Saleh organized by the Association of private banks in Iraq and hosted by the Bank of the UNESCO and the Hall Sands Hotel in central Baghdad and the reality of banking and ways to promote it.

The main topics addressed by the session which was attended by Director-General of Trade Bank of Iraq Hamdiya dry and general manager of money laundering in the Central Bank d. Khaled Cltag and general manager of studies in the central and Walid Idi and vice president of the Association of Banks Adnan Chalabi Multi ways to enhance the work of banks and the possibility of establishing a specialized bank for small and large projects and an investment fund proposed by the Director General (tbi) with the participation of private banks in Iraq.

Deputy Governor d. The appearance of Mohammed Saleh called on banks to the need for its shares in the process of stabilizing exchange rates of the dollar after the central banks to provide dollars for distribution among willing to travel for Hajj and Umrah purposes or for purposes of treatment and tourism.

He explained that the new measures central in this regard and seeks to activate the role of banks to contribute to the development process, pointing out that the assessments of the Central Bank in accordance with the new complete system for the banks is the norm in state institutions to deal with banks that will get the advanced assessments .

The President of the Board of Directors of Bank of the UNESCO International Wadi Handal engineer who ran the session and talk shows have praised the fruitful cooperation provided by the Central Bank of Iraq for the private banking sector through its response to the requests of the banking sector belief in the importance of private banks in the implementation of development programs .

He reviewed the prospects of the banking sector in the area for a program to support small and medium enterprises, which has achieved important achievements on the road to employment of young people unemployed.

For his part, urged the Director General of money laundering in the Central Bank d. Khaled Cltag banks to be is who stands up to laundering money through checking the sources of these funds and to know your CV to clients of banks and the banks of the core business of knowing the client's reputation and capabilities and sources of income

Cltag warned that the law is a red line that can not be exceeded, and said in this particular subject, any official in the state can not protect any client banks deal with money laundering, especially that involving mostly under the names of the funding of terrorism and it could not object of was missed. said the central bank would extend a helping hand to banks that have integrity and the preservation of public property and safety of the nation and expressed the readiness of the central organization of intensive courses and advanced in the detection of money laundering.

The Director-General of Trade Bank of Iraq has opened Hamdiya dry all the doors to the private banking sector for cooperation and partnership to achieve the required at this stage in order to promote the country's economy and touched on the most prominent challenges facing the banking business and ways to overcome them and announced during the meeting ready Trade Bank of Iraq post encase the establishment of private banks and investment equal contributions to fund the implementation of projects. IFAD works management and independent decisions to be the beginning of a new start and a genuine partnership.

For his part, Deputy occur Risrabotth private banks in Iraq, Adnan Chalabi, for the most prominent activities in support of the development process in the country, partnerships and coalitions among the private banks to support the development programs and create jobs for the unemployed through the establishment of company financing of small and medium-sized company and a guarantor for these loans is a bank guarantees provided by the Iraqi and These companies achieved good results in support of projects and its establishment and the provision of employment opportunities.

He expressed hope of private banks in the development of a national plan to support and develop these projects Khalalkiem relevant government institutions under the auspices of small investors as pioneers to build projects actively serving the national economy.

He noted that the formation of specialized bank for these projects will help ease the cost of funding and facilitating the procedures of funding and activating the participation of women Mncisdat business and others as this project will contribute to the development of efficient financial institutions participate in it and retaining it as well as reduce the risk in funding and increase the contribution of this sector in GDP and improve the economic performance of the private sector.

The meeting concluded the need to continue the ongoing meetings and look for anything that might improve performance and activation activities, and banking products aimed at the officials promised to the Iraqi Central Bank in overcoming difficulties and challenges faced by the private banking sector.



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