*************** Government moves to develop banks and financial institutions

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*************** Government moves to develop banks and financial institutions

Post  Admin on Wed Apr 12, 2017 8:54 am

12/4/2017 12:00 am

Baghdad / Farah Al-Khafaf
Many countries of the year are interested in tourism activity and are taking care of it because they are aware of its importance and role in moving economic activity.

 Most countries, whether developed or developing, have adopted the culture of tourism awareness and started to consolidate it at all levels of society in order to improve the tourism reality and improve the dealings with the tourists whether locally or The most prominent example of this is the launch of the United Arab Emirates Tourism Code of Ethics, which consists of ten axes aimed at improving tourism awareness.

The World Bank's fourth conference on the financial and banking sector, which was set up by the Central Bank to work on developing the infrastructure of banks and financial institutions, ended on Tuesday with the creation of new mechanisms to attract sound investments.


The 2017 Iraq Finance and Banking Conference is a continuation of previous Symexco conferences.

More than 1,000 delegates from all over the world participated in the previous conferences and succeeded in achieving the goals set for it, making it an annual event sponsored by the Central Bank of Iraq.


Implementation of recommendations
The economic analyst Rahim Al-Shammari in this regard, the need to implement the recommendations derived from these conferences, to support the financial sector and banking in the country, and greater openness to the world.

Al-Shammari also said that these events are important instruments that contribute to attracting international investments and partnership with their local counterparts.

 The country needs many necessary projects that serve the citizen, especially the reconstruction of the liberated areas from the gangs of terrorist gangs.

The aim of this important event is to research and develop the infrastructure of banks and financial institutions in Iraq by strengthening cooperation between the central bank and the ministries on the one hand and the banks and financial institutions concerned on the other, in addition to banks and international financial institutions as well as investors
International organizations.

 Representatives from Iraqi banks, World Bank, International Development Association (IFC), Organization for Economic Co-operation and Development (OCED), international banks such as JP Morgan, Standard Bank, Standard Chartered, representatives of Lebanese and Arab banks, banks and financial institutions attended the conference in Beirut. From the Middle East and North Africa.


Conference Themes

The conference discussed a number of axes that were put on the agenda, most notably, the plans and strategies of the Central Bank of Iraq for the next stage, the financial reforms that the government is trying to implement to attract and attract investors, the future of state banks, the role of Islamic banks and the new strategy of Bank Nahrain, Supporting the Iraqi economy, the current situation of the banking sector and the opportunities of participation of foreign companies involved in bank loans, in addition to the technological environment and its pivotal role in advancing innovation and reducing risks.

Al-Shammari pointed out that Iraq has great wealth and competencies that contribute to pushing the economy forward, but he saw the need to open up more to the world by attracting modern technology and applying it in the financial and banking sectors in order to protect public money. The conference also discussed several other important issues, including funding sources for large projects and infrastructure, developing the Iraqi stock market and funding opportunities for the Iraqi private sector.

As well as the study of the reality of the Iraqi economy and its expected developments, and investment in the projects of the Ministry of Oil, and investment in Iraq between reality and ambition, along with the file of reconstruction of the affected areas, and mechanisms of transition from the totalitarian economy to the market economy in Iraq, in addition to the management of Iraq's indebtedness and its relationship in the re-adaptation of the economy
the National.

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