The banking sector needs to be a comprehensive reform process
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The banking sector needs to be a comprehensive reform process
Admin Tue Aug 20, 2013 5:48 pm
08/21/2013 12:00 AM
Systems do not keep pace with modern banking
BAGHDAD - Hussein ثغب of Tamimi
Suffers the banking sector in Iraq from many challenges and needs sweeping reforms with a view to carrying out its functions key to be able to keep up with international developments and work according to their standards.
In this regard indicates banking expert Samir النصيري to malfunction significantly in the banking system boils down to having to huge liquidity but untapped promise this phenomenon Balemczuhh the banking activity.
النصيري In an exclusive interview for the (morning) called to invest this money supply by expanding lending and soft benefits. Pointing to the need to strengthen the partnership between the public and private sectors as an optimal solution to address the imbalances faced by the country's economy in the current transitional phase and follow-up program of economic reforms at all levels in order to increase economic growth.
He said that the issue of activation of the banking sector in national economic development is one of the urgent necessities, especially in light of the new economic trends in the shift towards a free market economy.
Development process
He comes here the role of government and private banks to strengthen the process of economic development in Iraq.
That's where the reform process should not be temporary and in the framework of vision piecemeal solution because it will lead to the return of the problematic crisis management in the treatment and suffered by the Iraqi economy, but that the solution must be within the framework of economic vision College-dimensional strategic fit with the orientations of the Iraqi economy towards reliance on market mechanisms as a parameter the President to support the private sector to expand its role and reduce the state's role in spammers out of the complex and interlocking.
Decline in the contribution of banks
He continued by saying: It is noted from the analysis of financial indicators above that of the reasons for the low contribution of the banking sector in economic development is that the Iraqi banking system for newly established and that most of the government and private banks are still capital is limited and their banking and administrative not kept pace with banking and modern information systems and analysis.
He pointed out deposits in these banks are still few compared to the government banks therefore will be its contribution to meet the requirements of development and reconstruction is very limited, especially in financing large projects will be their role is limited to twice the potential to finance projects which tend to finance small and medium enterprises and maturities short time.
Finance strategic investments
He said the role of government banks much greater in this area of the high ايداعاتها and will remain the state a larger role and the greatest in the financing of investment strategy, and that the legislative environment that regulate and control work offline and the requirements of taking precautions high of private banks as well as the determinants administrative in cash management and investment in the banks will make this the very limited possibility of shrinking resources for funding.
Significant risks
And increased النصيري saying: The high investment returns offered by the Central Bank of Iraq to private banks will reduce and reduce its investment in projects risks college major, where remains of private banks limited activity of its contribution to economic development as most of our banks business, has expanded its activities to include investment, consumption and some of the tools other banking classic known and there are the determinants of several legal and administrative determine investment within the regulations set by the Banking Law No. (94) for the year (2004) and Central Bank of Iraq Law No. (56) for the year (2004).
Real challenges
He stressed that the banking sector is facing real challenges are deficient legal environment of the current governing the banking business which is the law of the banks and the Central Bank of Iraq's 56 in addition to the registration law firms 21 of 1997 and the Law of the Iraqi market for securities 74 for the year 2004 and the Law of the Securities Commission and the Investment Law 13 of 2006 and Law laundering money 93 for the year 2004 as these laws contribute in some materials a significant contribution to reduce the contribution of the banking sector in the development and make it limited to the services concerned Bachirfah and business daily routine, which does not exceed 15 service at best out of 51 banking service must be carried out according to what you stated Article 27 of the Banking Act in force.
pointed to confusion economic vision, visions and policies that unite and coordinate between fiscal and monetary policy and the importance in reducing inflation and economic stability, as well as weak government support for the banking sector with the reluctance of the supervisory role and regulatory and supervisory bodies responsible for monetary and fiscal policy.
Oil revenues
He said that the economic and financial performance in Iraq influenced to a large extent on the performance of the oil sector.
Terms Oil revenues account for about two thirds of GDP in Iraq and all export earnings and fiscal revenues nearly so affected GDP growth shocks price and size estimation of oil., And there is a need to strengthen the financial sector in order to support the growth of non-oil sector. revealing the existence of the phenomenon of chronic afflicting the banking sector in Iraq is Bahtfazaa liquidity high could reach more than 50 percent of the capital but to no avail, or contribute to the development due to the inability to invest in development projects large, as well as poor planning and implementation of the policies of government support for the banking sector due to his careful nature of the economic development of the enormous world is witnessing and opening up to the free market and the failure of the government institutions, the organization of work in the banking sector and the capital market and support the business and overseeing the market through the mechanisms and procedures controlled where to organize the movement of the economy without radical intervention in the details and the involvement of all segments of the private sector in the process of growth and development for the advancement of the Iraqi economy.
The النصيري concluded by referring to the importance of work to address the technology gap in modern banking systems experienced by the banking sector compared with the findings of the other countries of the world.
http://www.alsabaah.iq/ArticleShow.aspx?ID=52396
Systems do not keep pace with modern banking
BAGHDAD - Hussein ثغب of Tamimi
Suffers the banking sector in Iraq from many challenges and needs sweeping reforms with a view to carrying out its functions key to be able to keep up with international developments and work according to their standards.
In this regard indicates banking expert Samir النصيري to malfunction significantly in the banking system boils down to having to huge liquidity but untapped promise this phenomenon Balemczuhh the banking activity.
النصيري In an exclusive interview for the (morning) called to invest this money supply by expanding lending and soft benefits. Pointing to the need to strengthen the partnership between the public and private sectors as an optimal solution to address the imbalances faced by the country's economy in the current transitional phase and follow-up program of economic reforms at all levels in order to increase economic growth.
He said that the issue of activation of the banking sector in national economic development is one of the urgent necessities, especially in light of the new economic trends in the shift towards a free market economy.
Development process
He comes here the role of government and private banks to strengthen the process of economic development in Iraq.
That's where the reform process should not be temporary and in the framework of vision piecemeal solution because it will lead to the return of the problematic crisis management in the treatment and suffered by the Iraqi economy, but that the solution must be within the framework of economic vision College-dimensional strategic fit with the orientations of the Iraqi economy towards reliance on market mechanisms as a parameter the President to support the private sector to expand its role and reduce the state's role in spammers out of the complex and interlocking.
Decline in the contribution of banks
He continued by saying: It is noted from the analysis of financial indicators above that of the reasons for the low contribution of the banking sector in economic development is that the Iraqi banking system for newly established and that most of the government and private banks are still capital is limited and their banking and administrative not kept pace with banking and modern information systems and analysis.
He pointed out deposits in these banks are still few compared to the government banks therefore will be its contribution to meet the requirements of development and reconstruction is very limited, especially in financing large projects will be their role is limited to twice the potential to finance projects which tend to finance small and medium enterprises and maturities short time.
Finance strategic investments
He said the role of government banks much greater in this area of the high ايداعاتها and will remain the state a larger role and the greatest in the financing of investment strategy, and that the legislative environment that regulate and control work offline and the requirements of taking precautions high of private banks as well as the determinants administrative in cash management and investment in the banks will make this the very limited possibility of shrinking resources for funding.
Significant risks
And increased النصيري saying: The high investment returns offered by the Central Bank of Iraq to private banks will reduce and reduce its investment in projects risks college major, where remains of private banks limited activity of its contribution to economic development as most of our banks business, has expanded its activities to include investment, consumption and some of the tools other banking classic known and there are the determinants of several legal and administrative determine investment within the regulations set by the Banking Law No. (94) for the year (2004) and Central Bank of Iraq Law No. (56) for the year (2004).
Real challenges
He stressed that the banking sector is facing real challenges are deficient legal environment of the current governing the banking business which is the law of the banks and the Central Bank of Iraq's 56 in addition to the registration law firms 21 of 1997 and the Law of the Iraqi market for securities 74 for the year 2004 and the Law of the Securities Commission and the Investment Law 13 of 2006 and Law laundering money 93 for the year 2004 as these laws contribute in some materials a significant contribution to reduce the contribution of the banking sector in the development and make it limited to the services concerned Bachirfah and business daily routine, which does not exceed 15 service at best out of 51 banking service must be carried out according to what you stated Article 27 of the Banking Act in force.
pointed to confusion economic vision, visions and policies that unite and coordinate between fiscal and monetary policy and the importance in reducing inflation and economic stability, as well as weak government support for the banking sector with the reluctance of the supervisory role and regulatory and supervisory bodies responsible for monetary and fiscal policy.
Oil revenues
He said that the economic and financial performance in Iraq influenced to a large extent on the performance of the oil sector.
Terms Oil revenues account for about two thirds of GDP in Iraq and all export earnings and fiscal revenues nearly so affected GDP growth shocks price and size estimation of oil., And there is a need to strengthen the financial sector in order to support the growth of non-oil sector. revealing the existence of the phenomenon of chronic afflicting the banking sector in Iraq is Bahtfazaa liquidity high could reach more than 50 percent of the capital but to no avail, or contribute to the development due to the inability to invest in development projects large, as well as poor planning and implementation of the policies of government support for the banking sector due to his careful nature of the economic development of the enormous world is witnessing and opening up to the free market and the failure of the government institutions, the organization of work in the banking sector and the capital market and support the business and overseeing the market through the mechanisms and procedures controlled where to organize the movement of the economy without radical intervention in the details and the involvement of all segments of the private sector in the process of growth and development for the advancement of the Iraqi economy.
The النصيري concluded by referring to the importance of work to address the technology gap in modern banking systems experienced by the banking sector compared with the findings of the other countries of the world.
http://www.alsabaah.iq/ArticleShow.aspx?ID=52396
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