Handal calls for creating banking awareness in Iraq

Since 11/23/2016 18:42 pm (Baghdad time)

Baghdad balances News

The head of the Iraqi private banks association Wadih Handal to create a banking awareness in Iraq and achieve financial inclusion horizontally through the delivery of banking products and services to all cities and towns.

Turning Handal during the second session of the Forum held in the Iraqi banking sector in Beirut today to the positive relationship between the Association and the Union of Arab Banks, stressing "the need to invest a memorandum of understanding between the two sides in the issue of banking compliance and transfer of successful experiences of banks to Iraq in particular the Lebanese.

He called bitter melon is to "expand the government deposits in the Iraqi private banks, noting in particular the settlement of salaries of employees in these banks," noting that "state revenues are still exclusively on government banks," referring to "the existence of initiatives in this area bode well."

He pointed to "the allocation of $ 6 billion initiative to support agricultural and industrial sectors," stressing "the importance of providing certain guarantees repayment of loans by localization of the employees' salaries in the private banks."

Turning to the issue of the launch of deposits citizens in the province of Kurdistan banks stressing "the need to pay special attention to this issue to shore up confidence in the banking sector."

She spoke during the meeting, Director General of the President of the Board of Directors of the Rafidain Bank, Khawla al-Asadi about the experience of the bank since its inception has so far confirmed the need to strengthen the Iraqi depositors in banks in general confidence and take advantage of the banks, Arab and foreign countries experiences.

For his part, the Iraqi banking expert Samir Abbas Nasiri talked about Iraq's dependence on oil, which is almost entirely around the country to yield neglected other development sectors of its economy due to a shift to a single-source economy.

And accept the evolution of the Iraqi banking sector in the areas of deposits, capital and credit growth, monetary banking.

He pointed out the reasons for failure of some of the private banks and the efforts of the Iraqi Central Bank to overcome the obstacles faced by them and exclude filtering procedures by adopting a policy of integration rather than liquidation.

He noted that the Iraqi Central Bank and the private banking sector, they were working as a team now, after they worked Kfriqin inept in the past.

The expert stressed Alnasiri the need to involve the private sector in Iraq, particularly Iraqi private banks association in shaping national economic policy through the activation of Economic Reform Act which provides for the establishment of Supreme Economic Council in Iraq.

At the conclusion of the meeting, secretary general of the Union of Arab Banks Antoine Hbeich adviser spoke about the importance of the independence of the private banks in shaping policies to be able to compete also stressed the importance of opening opportunities for private banks, its potential and its own bold and work in banks as customers.

And it kicked off this morning in Beirut businessman Forum Iraqi banking sector titled (restore confidence and avoid withholding money from banks) in the presence of Central Bank Governor Dr. Ali Keywords and general secretary of the Union of Arab Banks and Sam Fattouh and head of the Iraqi private banks association Wadih Handal and vice president of the Bank of Lebanon and a number of Iraqi Banking Leadership .anthy 29 / tc n


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