The legislation of laws contribute to the settlement of funds

Date: October 17, 2016


Phase through which Iraq is required to take measures to encourage the return of capital flight and the treatment of the problems facing resettlement of local money or attract inward through the laws of economic and investment regulations that guarantee local investor rights and foreign paint a legal relationship in line with the local environment and the data of the new world order legislation.

On this subject the Academy saw Dr. Abeer Mohammed Jassim, said the support and development of domestic investment sector and the development of regulations for local corporate investment is an important factor in the return of migratory capital.

She called Jassim in an interview , "to the creation of economic management in the country have a strong influence in the end all the problems that stand in the way investor Kalajraat routine in the completion of transactions required for its projects and investment requirements, as well as facilitate the privatization measures in the public sector and state - owned joint stock companies.

She added that the clarity and transparency, especially in the financial market, provide confidence to investors from home or abroad because they Aattiyan true picture of the reality of the investment, citing the need for attention to technology development in all economic activities and keep up investment activity requirements and the provision of bank financial organs advanced with work on the development of investment formulas in the internal banks in order to achieve the growth of investment in Iraq.

She pointed out that the phenomenon of capital flight, in general, pose a negative impact on the growth of developing countries ' economies, which represents the capital the most prominent production elements and reliable GDP significantly, hence the exodus of capital is the decline of the contribution of foreign capital in the gross domestic product, and when foreign currency used to finance the transfer of capital operations abroad, the levels of imports will be affected , whether the imports capitalist or intermediate and this negatively affects the gross domestic product as well.

The show may be the effect of the transmission of capital abroad at a time when serious crises, economic crises entail more migration of capital, and to reduce this phenomenon has to be a raft of measures to adjust the monetary policy tools.

Confirmed Jassim need to take advantage of the phenomenon of slowing global economic growth and low external ROI and fears a freeze on assets overseas and employ them in the return of Iraqi funds, pointing out that the return of all the money from foreign countries quickly and automatically is difficult, because of the large migratory money size and diversity of investments between short the medium and long term, in addition to the restrictions set by foreign countries on that money, which requires the exploitation of political relations between the countries and this requires suitable to attract these funds in an orderly and gradual mechanisms.

Jassim concluded by saying that: operations re - migratory funds require investment climate appropriate to improve the rates of economic growth and raise the level of efficiency of the management of all branches of economic activity saving, reduction of the budget deficit by emphasizing spending, taking into account the lack of a sharp reduction in public spending because it leads to a negative impact on private investment, and thus spending decreases on infrastructure and public sectors , productivity, and finally focus on the oversight role of banks and financial institutions that control include minimum capital adequacy and addressing credit concentration limits for lending to shareholders and determine the liquidity ratio in addition to activating the laws anti - money laundering.

Source / morning


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