Iraq to join the membership of the Islamic Corporation for the Insurance of Investment

13/06/2013 12:00 AM

From the development of its economic indicators
Baghdad - Mostafa Hashemi


The Iraq's accession to organizations and blocs financial and economic of the key things that are in favor of the country's economy, and in this regard confirmed Mokhtstan economic affairs the importance of Iraq's accession to financial institutions and banking regulations Arab and regional because of its effect on the consolidation of economic relations between him and the member states, Msheertin in time the same to the importance of the study of accession and portability relevant sectors to develop and update their capabilities and keep pace with global progress.

The Central Bank of Iraq announced earlier for the government's approval on Iraq's accession to membership of the Islamic Corporation for the Insurance of Investment and Export Credit, returned that the decision will contribute to the increase in Iraqi exports and the inflow of foreign investments.

 He said in a statement that the government had agreed to join the membership of the Islamic Corporation for the Insurance of Investment and Export Credit (PE), "adding that" the institution has agreed to accept Iraq is a member.

He added that this decision would contribute to increased Iraqi exports and the inflow of foreign investments to it, as well as the protection of investments Iraqi in the Member States of the institution.

 On the other hand said economic Mona earthquake: that the issue of joining any gathering or conglomerate financial and banking Arabic or regional must begin the readiness of evolution includes a series of reforms to work contexts that may hinder the process of investment and the most important reform of the banking system.

 indicated in a statement (morning): that any accession must be considered carefully because the study that will develop capabilities sectors of the economy, the most important private banks.

stressed earthquake that he should to evolve our sectors of economic because it represents the entrance real investment and start to enter the Iraqi market, to Avcth need to be serious and the desire to exist., and expressed the hope that such hookups formality and protocol because it is in this case اتفيد the Iraqi economy in something while the implementation of the preparations for accession would raise the efficiency of the country's economy through the exchange of experiences and the consolidation of economic and trade relations between Iraq and the rest of the countries in these blocs or groups.

For her part, economic expert peace Sumaisem that Iraq's accession to financial organizations and regional economic would support the financial and banking sector.

 She explained the (morning) that Iraq needs to keep pace with global developments in the field of banking and money transmission speed between him and the countries of the world, through agreements with Arab economic organizations.

 She added that the world looks to Iraq as a market investment promising but need to develop the banking sector to facilitate the movement of money in and out of the country.

Mentioned that the Islamic Corporation for the Insurance of Investment and Export Credit was established in August 1994 and its membership includes 39 Islamic countries, except Iraq, aimed at expansion of the business transactions and encourage the flow of investments between the Member States in accordance with Islamic law.


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