Keywords declares near the application of the Deposit Insurance System

2/18/2017 0:00

Private banks called for funding large projects
BAGHDAD / Hussein Tgb

Face development challenges and build local capacities represent obstacles need to be addressed by the private banking sector on the process of achieving economic advancement as a device driver for all activities through funding provided from Mali.

Iraqi Central Bank Governor Dr. On the Keywords and during the opening of the headquarters of Iraqi private banks association ceremony demanded by attracting money deactivated without real employment of which an estimated 70 percent of the money supply in Iraq size, pointing out that it requires the creation of opportunities to attract money through confidence-building between the banking sector and the citizen who must We are reassured on his money.

Egyptian Central
Keywords thanked the first generation of Iraqis bankers who owned the good reputation and vast experience that established a solid banking system for decades and contributed to the construction of Arab central banks of the Egyptian Central Kalpnk.

He stressed that the central Keywords banking sector is pushing for the adoption of advanced banking systems that chime and adopted by the international banks, not striking that the central works on the infrastructure that will develop banking business in Iraq so as to enhance the services provided to beneficiaries at the retail level calendar.

He revealed near the private system application company guarantee deposits, which helps to create trust between the citizen and the banking sector, calling on all banks to be one hand to support this project, which serves all parties and guarantee the rights of depositors.

He called Keywords private banks to take a leading role in economic development by financing large projects process, and must rely sophisticated methods of work, especially that many of the private banks were able to build a modern framework for its work.



Great opportunities
He cautioned on the need for Iraq economic stimulus form in which it invests all resources, calling for banks that have a positive role in this area despite the inter challenges, but the presence of many big opportunities to overcome obstacles which requires effective products capable of supporting development.

He said the legacy public banking sector backwater of global developments and the movement became slow and you need to stand when a lot of joints.

Keywords and stressed the importance of training in the development of the financial sector and its impact on all sectors of the economy, praising the role of the Association in this important area, stressing that the courses achieved a real growth in capacity, given that the demands of the banking sector to keep pace with global developments.



Activity money
President of the Iraqi private banks association Wadih Alhntl said that the central bank's major role in the private banking sector development through follow-up prior and instructions that the activity money in Iraq, stressing that the Association gives financial capacity building within the priorities of their plans and annual programs aimed at rehabilitation of expertise in all banking activities without exception.

He noted that the new headquarters contains all the specific training requirements that provide an atmosphere ideal for Mtdreb and lecturer, pointing out that private banks aims to develop all joints

And be a competitor to the regional and international counterparts.

He described the celebration of the experiences that I got up Iraqi banks over the past decades and the duty because they put the foundations of a new generation of banking experience, which began its work and gained great experiences for the advancement and development of products.

It also included opening the signing of a Memorandum of Understanding between the Institute of progress for Development Studies and the Association of Private Banking activities.

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