Direct electronic trading interfaces feasibility check

08/18/2013 12:00 AM

Baghdad - Mostafa Hashemi
One of the researchers economists saw that the use of modern technology to hold direct bilateral dealings between citizens and government is an urgent need and check the economic feasibility as well as being a cultural phenomenon adopted by most countries of the world.

He said economic researcher improve on the need to adopt new mechanisms for the implementation of the policy of economic reform adoption of electronic systems and sophisticated software.

He explained Ali told the (morning) that the policies of economic reform, requiring speed up the adoption of new technologies and the computerization of information because the work according to priorities in determining the needs of the community also comes within the reform policies, as well as working principle of feasibility studies, stressing that the adoption of e-governance would rise by being economy will depend directly on the handle automatic rather than manual prevents the manipulation of documents, bonds and securities official task.

He added that Iraq possessed significant economic components to be managed wisely to achieve growth and transition to a market economy through the enactment of appropriate legislation and laws resolution cross them with each other along with a change in the accounting and control systems and the introduction of financial and banking transactions to electronic systems.

He pointed out that the transition from a totalitarian economy to a market economy phase experienced by many countries, and surpassed the experiment after several years.

 Adding that Iraq is now going through this phase and move entirely to a market economy takes additional years could be reduced by using digital technology in trading interfaces between the citizen and government departments and spreading the culture of trading money-mail through smart cards instead of total reliance on cash.

Pointed economic researcher to governance that if fully implemented will lead to the development of financial markets also through the protection of investors, and the protection of linked efficiently governance, which allow for the development of financial markets and the efficient allocation of capital by companies.

He said the result is important for the analysis of financial markets need to protect the investor, appear rooted in the legal structures in each country Valthasin not result in a marginal degree necessary to protect the investor and the other hand there are legal systems emphasize investor protection.

He called for improved training programs to allow the ability to acquire skills and scientific process and increase the validity of the work in the public sector in particular and then the development of the private sector which needs days after the last to adopt the government sector these systems for the advancement of the economy and keep pace with global developments happening in this field.


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