Development and banking sector initiatives

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Development and banking sector initiatives Empty Development and banking sector initiatives

Post  Admin on Thu May 31, 2018 8:35 am

Ministry of Planning spokesman Abdul Zahra al-Hindawi "Internet"
Abdul Zahra Mohammed al-Hindawi

Is it possible to say that the Iraqi banking sector is occupying an appropriate area commensurate with its financial and economic capabilities in achieving development in the country, or is it still looking behind the curtain of what is being planned and developed without being able to move its arms to be an appropriate partner in this field?

I think the answer to both questions will be yes and not at the same time !! .. But how can two answers stand on opposite sides that meet under one roof?

And let us stand by answering the first question, which will be answered, yes, and these blessings are derived through clear evidence witnessed by the Iraqi arena and specifically in the capital Baghdad, which has become the scene of important developmental and urban activities behind the institutions of banking effective government and private, The project "Baghdad", adopted by the Association of Iraqi banks, which includes a group of banks active in cooperation with the coordination with the Central Bank of Iraq and other government banks, with the participation of civil society organizations, led by the great musician Naseer Shamma, the initiative includes the development and rehabilitation of the main squares It is hoped that these squares will be completed with artistic and aesthetic vision, which means that we will have a new page that will give Baghdad a great artistic and architectural beauty and by the end of this year.

Such a wonderful initiative will undoubtedly confirm that the steps And other important initiatives will have a clear impact on the overall development map of the country and will encourage those who are afraid to go into development.

Certainly, any development will remain lame and unable to overcome the obstacles it faces if we do not have an active banking sector , Because the process of financing development projects Is very important, especially in light of the existence of a public sector is facing a lot of problems in the forefront of how to provide salaries and wages of workers in state institutions, ..

The experience of the project, "Baghdad" that the existence of funding required with the intention of sincere work, projects progress towards Is fully consistent with the timing of time and quantity, so the duration of the completion of this project is 200 days began at the beginning of this year has reached the completion rate now more than 50%., And ends before the end without adding any time to complete the project, The implementation is advanced in lots of large squares on both sides of the platform So, if we go to the second question we started talking about, which can be answered yes, or not, some banks are still watching closely without trying to get into the arena to be a partner in the development process, and I imagine that a position like this is not Because the time will not allow more waiting for those who fail to ascend ..

Hence we can not but applaud the initiators and those who seek to participate strongly in the process of development, and I am sure that the initiative "Baghdad Bag" will not be the last, But will be followed by other initiatives that will also be glamorous, but more important This is all because we want to have an effective banking sector capable of changing the development paths clearly.

The features of such a role have begun to appear in the development horizon through many practices and serious steps, including the question of financial inclusion, And many other banking institutions still need a lot of work to develop their reality in a way that makes them better able to provide more cheek. The first track is the process of correcting, developing, automating the work and keeping pace with the international banking systems in this field.

The second track is to open wide horizons and enter into the investment arena in various sectors.

It is certain that the results will be positive regardless of the challenges expected to face the banking process in Iraq in about a year.


Source: Al-Sabah newspaper


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