Efforts to improve the performance of the banking sector to the global counterpart

Wednesday, 19 September, 2012

BAGHDAD – Hussein Tgb Tamimi

heading efforts economists and money into researching how to bridge the wide gap between the performance of the domestic banking sector and his world.

This focus of the meeting that was conducted by the morning with a representative of the Association of private banks in Iraq at the Economic Commission for private sector in the Council of Ministers, a banking expert Nawzad dry, which stressed the importance of adopting action plans aimed at raising the efficiency of all workers in the private banking sector. Dry believes that actually requires a stand at the global developments in the international banks and the role of electronic systems to provide faster services to the beneficiary, and this requires the development of human resources bank because it represents the need to serve the development process of economic advancement that was sought by the country in the coming period. The main problems faced by the banking sector is not to provide expertise bank local competition of international experience, pointing out that the training of staff of private banks need long periods, and is available from training courses is not commensurate with the size of employees in the banking sector.

revealed dry for the past few days saw meetings with the International Monetary Fund and was our requirements far from loans and financial aid but focused towards organizing training courses for cadres banking in general and training in international centers specialized would raise the efficiency of workers and access them to experience the state in the nature of services provided to customers.

He noted that banks that rely sophisticated systems gain the trust of customers and multiply their numbers, especially after the prompt service internationally accredited and pointed out that some international organizations international ones (usaid) and Lebanese banks and Jordanian dealing with local banks have some courses specific size cadres something positive in the opening credits and money laundering, but they need to experience and more capabilities.

He continued dry modern saying: that Iraqi private banks and under economic transition is limited and disproportion size of the Iraqi economy, which is one of the giant economies in the region, noting that the banking sector today is in need long cycles and intense knowledge of international banking standards, is also seeking private banks to obtain a confession from the government as well as private sector, which has become a trusted best banks out of the race after the adoption of some advanced systems. Praised Dry to direct the central bank to increase the capital of the private banks, which is one outlets gain the confidence of the government and customers beneficiaries working with private banks, indicating that the private banks offer some services offered by banks, especially as the number of customers does not favor electronic trading with the bank to mistrust sometimes .

In this way we need to culture handle mail and this is the important banks in the first place, the media and in cooperation with banks in the first place. Predicted dry that occupies banks civil in Iraq privileged position in the operations of future economic development by and fit banking services provided by private banks, which offer better services from public banks Despite recent experience.

and the reality of the bad debts that hinder the work of banks said that the size of these debts take much shrink from the previous result of the crackdown and the cooperation of the judiciary to speed up the liquidation problems and civil fairness banks. Also, the problem of fraud taking place in official documents decreased significantly because of the audit emphasized during the last period on the books issued from various destinations.

Dry noted that in the capital of private banks has expanded after the broad participation of shareholders and thereby reducing the risk rate.


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