####### The Start of the Banking Conference 28-29 Sept., 2013

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CDs from the Iraqi currency in a bank[/ltr]
[ltr]Maliki calls for review of laws "hinder the work of private banks" and calling on the government to bank balance [/ltr]


[ltr]Author: HH, HUA
Editor: AJ, HH
28/09/2013 12:44
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[ltr]Range Press / Baghdad[/ltr]


[ltr]Called Iraqi Prime Minister Nuri al-Maliki on Saturday, reviewing legislation and laws that hinder the work of private banks, "calling on the central bank to" coordination between private banks and government ", while stressing bank on the need to" support the government's domestic banks and give a chance for a balance between everyone. "[/ltr]


[ltr]He said on the Keywords in a speech on behalf of Prime Minister Nuri al-Maliki during the first conference of Iraqi banks for which was held in Al-Mansour Hotel, in central Baghdad, and attended (range Press), "The indicators currently emphasizes low bank credit to important sectors such as agriculture and electricity," noting that "Iraq needs today to review legislation and laws that hinder the work of private banks."

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[ltr]Keywords expressed the hope that "the reach of the conference to propose amendments to this legislation," he said, adding "we will be supportive of her."

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[ltr]Keywords asked to "establish a special bank for investment involving the government and the private banks and the public," he said, calling at the same time the central bank to "coordination between private banks and government."

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[ltr]Keywords stressed in a speech delivered on behalf of the Prime Minister on the need to "do not drive failures in some private banks to harmful stress through measures harmful and unfair Ahli banking sector."

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[ltr]For his part, said a member of the Association of Iraqi private banks Shirvan Omran said in an interview to (Presse term) "We need to support the government and give opportunities to compete with government banks," and urged "not to bet on the government banks only."

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[ltr]Imran explained that "until now, the instruments issued by private banks is not supported in government banks and government departments because of the procedures and the Ministry of Finance," calling for a "change these procedures and give a chance for a balance between everyone and everyone is monitoring the work."

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[ltr]The Association of private banks in Iraq, announced in (25 September 2013), it will organize an international conference later this month to discuss a variety of topics related to the banking sector in general and the amendment of the law of private banks, and with an eye to the presence of negative impact on the work of these banks, confirmed the presence of a tendency to change These laws to return to the "right track" in the work of private banks.

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[ltr]It is noteworthy that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by the property (7) government and banks (30) waged banks including (7) Islamic banks in addition to (6) of foreign banks.


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Keywords proposes the establishment of banks, joint development contribution from the public and private sectors to support the investment process



28-09-2013 03:24 PM

Baghdad (news) .. Proposed by the Secretary General of the Council of Ministers on the Keywords, banks establish a joint development contribution from the public and private sector investment and specialized to support the investment process in the country.

The Keywords in his speech during the Matmrakdth Association of Iraqi private banks in Baghdad this morning under the slogan 'the banking sector - Reality and Challenges' and attended by the Agency (news): that the banking sector one of pillars of the country's development as provide important services on finance and investment, calling to take measures to facilitate the work of private banks and dismantling militant control them, to move out of the marginal role to the primary role in the economic development of the country,

And demanded Keywords: review of the relevant legislation, and modify some of them to suit and economic development in the country and has the capabilities of human and natural resources, encourage investment inside.

He called for: the establishment of a special nature banks, involving the public and private sectors concerned with investment, for the development of the economy of the country, and open new horizons and joint cooperation between the banking sector, the government and private sectors. / End / h. P /



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Calls for the development of the private banking sector in Iraq


28/09/2013

Called specialize in the banking business to the need to develop the private banking sector through the enactment of new laws that will promote this sector which has suffered a significant decline in recent years.

He called on the Secretary General of the Council of Ministers on the Keywords in a statement to Radio Free Iraq on the sidelines of the first conference of the Association of private banks in Iraq, which was held in Baghdad on Saturday, called for the advancement of the banking sector sector in Iraq, through enact laws that would contribute to the development of his work, pointing out the importance of establishing a specialist investment bank, to facilitate the entry of foreign capital into Iraq.

Meanwhile, a number of bankers that in spite of the presence of more than forty banks waged a factor in Iraq, but the contribution of the banking sector in the Iraqi national product does not exceed 7%.

The economist sees Bassem Jamil Antoine that the private sector continues to suffer significant setbacks, as described, emphasizing the lack of a clear economic strategy monuments of the state.

As a member of the Finance Committee in the House of Representatives Abdul-Hussein al-Yasiri was called to allow the private sector to open letters of credit with banks of the world, as well as open official circles to their own bank accounts to contribute to the support of the banks.

In the meantime, explained Executive Director of the Association of private banks in Iraq, Adnan al-Chalabi, in his speech at the conference, said that "Iraq's economy is still ريعيا and depends mainly on oil imports, which makes the economy in constant danger if exposed oil prices to shocks large," calling to make way for the private banking sector to contribute to the country's gross national product.

It is said that statistics from the Iraqi Ministry of Planning show that the contribution of the private sector in the state budget ranging between 3% and 7% which is considered by experts felt very weak, compared to the role of this sector in the budgets of some countries, which amounts to about 90% in developed countries industrially.



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Specialists : Legislation and modern technology a necessity for the development of banking
 

09/30/2013 12:00 AM

In order to create a sophisticated banking sector

BAGHDAD - Hussein ثغب of Tamimi

Examine a number of bankers on the second day of the conference, the Iraqi banking the first ways to improve reality of banking , particularly with regard to legislation governing the functioning of commercial banks, Islamic and propose remedies needed to address the determinants of development, especially after he showed the prime minister is ready to support the banking sector legislatively and administratively .

Executive Director of the Association of private banks in Iraq Abdul Azizi Goldfinch said: that the conference is the first of its kind in the country to address the determinants of development banking in the country and create an ideal environment contribute to the transfer of technology advanced banking to provide better services to the public beneficiaries , especially as the Prime Minister in his speech , which was read Acting promised to adopt the proposals issued by the conference and contribute to overcoming the obstacles to development banking.

He said: private banking sector needs to be justice in the application of the laws , regulations and instructions, and to oblige the government banks using modern banking systems for the purpose of compatibility with the clearing and payments systems administered by the Central Bank of Iraq , as well as forcing private banks adopting in its work .

Charter professional
He pointed to the importance of a charter professional inter-bank public and private under the supervision of the Central Bank of Iraq and the formation of a coordination committee a permanent follow-up flow of transactions among the parties to the banking system , pointing to the importance of putting an end by the authorities of the financial and monetary and other authorities of the smear campaign against her device Iraqi banking , which greatly affected the reputation and led to shake confidence in him , as well as stop the threat of punitive action and the boycott by the government banks to private banks .

Hassoun pointed out that the Iraqi banking system differs from Mthilath in neighboring countries , as it consists of banks owned by the government and other private sector, and despite the fact that this difference extends to the decades-long but the economic developments and policy in Iraq influenced clearly the reality of the banking business , noting the authorities of the royal banks government increased extremism in dealing with private banks to reach interrupt routines and is another much overall banking performance in Iraq after he was ignored this device but it is a single entity is not valid and can not be seen Kmqata or parts .

He emphasized that excellence in monitoring and supervision of the banks must be completed in order to upright banking transactions smoothly necessary in between all banks . Especially as the number of banks exceed fifty Currently , 43 of them private and seven government-owned , and include the number of private banks , branches of foreign banks and foreign Arab and the 11 . And has exceeded the number of branches of these banks (500) and the number of employees (11) thousand employees .

Global applications
But Tawfiq Murtaza manager one Arab banks operating in Iraq, he said that the conference , such as a good step to draw a roadmap for the growth of the Iraqi banks and contribute in bringing prospects of cooperation between the private banks and the government , pointing out that the meetings bankers with legislative bodies is extremely important because it contributes to discuss legislation that that will promote and allow banks to engage in a broader activity than it is now.

He said : We كمصارف foreign entered into the labor market of the Iraqi banking and found some things banking bit far for international applications International , stressing that our presence to the conference comes to draw the attention of those who on the banking sector mechanisms to contain the determinants of development banking , which represents the most important elements of economic advancement destruction.

Value of the dinar
While pointed general manager of statistics and research and Walid Idi Abdul Nabi that the successes of monetary policy, the current embodied in the long-term stability in the value of the Iraqi dinar, as well as the decline in the inflation rate basis to 5.6 percent in 2012 as well as building reserves, strong foreign currency promised Dolly the value of Iraqi currency , integrity and protection of the balance of payments of the external shocks and on this basis , has achieved the government 's economic program had outstanding success in part of what monetary policy has played in achieving its goals and as stipulated by the Law of the Central Bank of Iraq .

Comprehensive development
He stressed the competent بالصيرفة Islamic Sadiq Rashid on the importance of supporting Islamic banks by governments issued laws and regulations suited to its banking and especially the law of Islamic banks and this is what makes spread wider and more attractive and stable, and promote cooperation among Islamic banks and central banks , with the need to be there independence and clear the monetary policy of the Central Bank through the creation of pattern supervisory consistent with the nature of the work of Islamic banks because they are subject to the Sanitary control of commercial banks applied by the central bank , especially with regard to the reserve, the legal and the discount rate, and ceilings of credit and open market operations and debt securities and lender of last resort .

Determinants of development
And on the question of the (morning) about the importance of the conference , said Chairman of the Board of Directors of Commercial Bank of Assyria Wadih Alhandal : to organize the first forum banking specialist discusses the mechanisms for the advancement of banking in any case , something positive will come to that offer banking services to the public beneficiaries.

He noted that the proposals launched by the bankers are many in this conference , which meets in which public and private sectors and in the presence destinations legislative formed a real idea about the obstacles that limit the development bank, which will hopefully be addressed through cooperation between the public and private sectors.

He pointed out that the banking sector needs to support the mechanics of his work by allowing him snapped a wider role in the process of investment and development, pointing out that this trend needs to be a legislative amendment allows an investment of monetary mass in private banks in portfolios different investment holds many positives to the local economy , where will work to contain the problems of unemployment and the development of services and rotate the wheel of production and many positives .

And investment banks
Banking expert Samir النصيري said: that the banking sector Corner fundamental pillars of the pillars of a free economy , which supports government policies and push them towards the process of economic growth if the bases in the construction of this sector strong and solid and based on scientific planning and full of competence and experience and confidence , especially if managed this sector to contribute development plans and investment at the level of construction and economic growth. , and pointed out that the banks and investment pillars متلازمتان for making the process of growth and development on a sustainable basis , especially as the banking sector is a vicious financing the first and main for investment activities and that the current stage requires today more than ever before to open the way for banks to work easily and effectively contribute to the investment support for it 's nerve President for growth , evolution and development .


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