Iraqi Dinar
Would you like to react to this message? Create an account in a few clicks or log in to continue.

A banking expert calls for the activation of monetary policy

Go down

A banking expert calls for the activation of monetary policy Empty A banking expert calls for the activation of monetary policy

Post  Admin Wed May 24, 2017 3:12 pm

Called the banking expert Samir Nusairi, the Iraqi Central Bank to activate its monetary policy to support the private banking system, and reconsider the lending policies and departments of credit risks, stressing the study of some observations in the framework of the strategy to be adopted in the coming years.

Nusairi stressed that the implementation of the strategy of the Central Bank of Iraq for the coming years requires the study of a number of observations, including monitoring the implementation of monetary policies to the future until 2020 with the contribution of the banking sector in GDP, as well as the search for new policies to achieve this goal and allow government and private banks to participate in growth Investment in accordance with applicable mechanisms and policies, without imposing strict policies and giving sufficient flexibility.

He added that it is necessary to seek to address the gap between the state's fiscal policies and monetary policies adopted by the Central Bank and the requirements to combat inflationary pressures, in addition to reducing current spending and coordination in the plans and programs that save the Iraqi economy from financial collapses.

Al Nusairi also pointed to the importance of activating the monetary policy to support the private banking system, reviewing the lending policies and credit risk management mechanisms in the granting of credit and small and medium loans, in addition to investing in the productive and investment sectors which generate cash flow and revive the economic cycle, And diversification of financial resources to the public budget.

In the context of the central dollar sale, Al Nusairi called for careful follow-up of the foreign exchange regulations issued this year, the need to define the role of banks in customer-to-central mediation, and the responsibility of ministries of trade, finance and planning for offenses committed by certain customers , And not to take responsibility for banks only.

He stressed the importance of the adoption by banks' boards of directors of a strategy for operational risks and their implementation, review of doubtful debts in accordance with the regulations and the return of additional mortgages and time limits for banks to liquidate these debts, most of which are due to the migration of civilians from their governorates for security reasons beyond their control.

He called for the restructuring of the banking sector, especially the government, stressing the need to examine the allocation of some of its sections, and to activate the banks working to expand and diversify banking services, especially increase their share of credit and investment in a balanced balance with their total revenues to become an effective basis for economic growth, provided that move away from monopoly Some banking operations and the blocking of government activities and public institutions for private banks.

He added that there is also a need to develop the Iraqi market for securities and support, and to find the means and tools that drive to raise the prices of the index of the market and companies, in line with their assets and production standards and profits, and prevent speculations that harm the Iraqi assets in proportion to the real value, calling for the establishment of a special fund or portfolio Certificates of deposit issued by banks wishing to address the deterioration of stock prices.

He also called for the addition of new banking management to the current investment to enhance the investment climate in the market and increase the volume of bank deposits, which will lead to increase its investment activities in all economic sectors and thus achieve a positive return for investors.

Nusairi said that monetary policy is one of the most important economic policies aimed at achieving economic stability and stabilizing the exchange rates which increase the national economy to be effective and effective to meet the economic challenges. He believes that the realization of foreign exchange reserves, currently amounting to 49 billion dollars, The dollar is necessary, pointing out that the central currency window held by the central had a positive role in maintaining an appropriate level of exchange rate and install.

He pointed out that the Iraqi Central Bank has taken many steps to expand the list of tools available for monetary policy and cover the required reserve to include government deposits, and grant facilities on deposits, which are short-term in order to allow banks to manage their liquidity more effectively.

The relative stability of exchange rates and tight monetary policy, the stability of the financial system, as well as the reduction of inflationary phenomenon, control and management of liquidity levels, and the promotion of market-oriented banks are among the most important instruments achieved in monetary policy from 2004 to 2006.




Mm
Content Link
Http://economy-news.net/content.php?id=7610

Admin
Admin

Posts : 29357
Join date : 2012-04-30
Location : Arizona

https://iraqidinar.forumotion.com

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum