***** Adoption of corporate governance improves the payments system

12/28/2013 0:00

Expand their work reflects positively on foreign trade and banking
Baghdad, Mustafa al-Hashemi


Iraq seeks to expand the use of advanced technology in the economy to improve the payments system , which will be reflected in business dealings Aijaahaly external and internal , that began after a number of ministries, departments using corporate governance as well as a number of other banks and banking offices civil to accomplish transfers and delivery employees' salaries.

In this regard, said economic expert Hilal Taan : The adoption of corporate governance in the ministries raise the efficiency of the economy and reduces the time and effort in commercial transactions , banking and payments system to improve the DPS which is an acronym for Definition of payment system.

He Taan told ( morning) that Iraq other in improving the payments system and the adoption of modern systems in a number of ministries after that adopted this system and has trained a number of employees on e-governance as well as the central bank began this step in order to improve the payments system .

He explained that the adoption of the regimes of modern banking and the application of corporate governance are required to keep pace with the global development , but the circumstances of the country affect the extent of progress in this area , pointing out that there is a possibility for the introduction of corporate governance in the field of commerce and government transactions of buying and selling to private traders after it is expanded system governance on all circuits.

He Taan that a number of government departments adopted the system of governance in the completion of transactions of the citizens as a circle passports , which led to ease the time and effort on the staff , as well as that of government banks and banking offices in Baghdad and the provinces operate the system itself .

And the expert economic importance of expediting the improvement of the payments system to include the field of trade being will contribute to the reduction of corruption goods are perishable and non- survival at border crossing points for a long period , as well as it will ensure the speed of arrival of goods at the time of the fastest after he is making deals with traders or companies foreign and contact them through the Internet and agreed to buy what they want from their exhibits in electronic

And know the e-commerce (e-commerce) as business activity across computer systems in the Internet and its growth is linked to the growth of the movement of financial techniques and how to ensure their safety and security.

E-commerce is divided into three types: · E-commerce between businesses , companies and between companies and customers and between customers and clients.

For his part, economic researcher on the need to improve the adoption of new mechanisms for the implementation of the policy of economic reform, the adoption of electronic systems and advanced programs .

Ali said in a statement to 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 the working principle of feasibility studies , stressing that the adoption of e-governance would rise economy by being directly depend on the handle automated instead of manual , which prevents tampering and documents and official papers task.

He added that Iraq has the ingredients to be of great economic management wisely to achieve growth and the transition to a market economy through the enactment of appropriate legislation and regulations as well as a change in the accounting and control systems , financial and banking systems, the introduction of electronic trading .

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 completely to a market economy takes additional years could be reduced by using digital technology in trading interfaces between the citizen and government departments, and a culture of trading money -mail through smart cards instead of total reliance on cash .

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

continued result is important to analyze the need for financial markets to investor protection , show inherent in the legal structures in each country Valthasin marginal does not result in the degree necessary to protect the investor , by contrast, there are legal systems emphasizes investor protection .

He called for improving the 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 one day after another that supports the government sector these systems for the advancement of the economy and keep pace with global developments taking place in this field


http://www.alsabaah.iq/ArticleShow.aspx?ID=60805