***** Participants : banking reform axis starting economic development processes

1/25/2014 0:00

In the seminar examined the balance between the public and private sectors

BAGHDAD - Hussein al-Tamimi Tgb - Farah pumice

Examine the economists and bankers mechanisms advancement sector money and the possibility of expanding the product offering to the public the beneficiaries of different needs of banking , where he was standing when the most important joints of the financial sector and the possibility of investing in activating the production and service sectors ( according to participants in the meeting Businessmen Union and the Organization for International Projects ) .
   
Treatment legislation
President of the Union of businessmen willing satisfaction Blibl said : This meeting deals with the obstacles faced by the banking sector and the private sector , and delve into the challenges that bedevil the reality of work , where we meet the goal of reaching a formula to contribute to the activation of the private sector and addressing legislation that hinder the advancement of all his joints . Pointed to Union in the past to organize such forums where the meeting was organized during the last month eating revitalize the Iraqi economy through an integrated system , as the meeting will be organized during the next month, deals with attempts to enter Iraq to the World Trade Organization .

Stimulus measures
And the importance of direct, earnest implementation of strategies sectoral approved and adoption and implementation of strategies that at the stage of validation as well as the serious implementation of the economic laws through the institutions of a solid and a package of measures motivational and invigorating the economy , the administration is serious by the relevant sectoral responsible for all of them with the active participation of the private sector institutions preparing and making and implementation and monitoring and follow-up .

He said Blibl the previous meeting recommended the formation of the Supreme Council for Planning ( or Supreme Economic Council ) shall interleave all strategies sectoral and determine the vision of strategic integrated country and policy and the views implemented under the priority , as The process of monitoring and evaluation of operational procedures and follow-up Thakqatha and corrected when needed.

Support business organizations
The Director for International Private Enterprise Mohamed Alaa El Din said : worked since 2003 to provide technical support to organizations and business associations through the strengthening of its role in the economic reform across many programs , including calendars, business and the development of investment authorities in all provinces aimed at creating a work environment attractive for economic development , he pointed out that the meeting dealt with banking reform , because his pivotal role in the recycling economy and achieve growth rates commensurate with the aspirations of the beneficiaries .

He said the financial and banking sector reform requires the creation of a financial system to mobilize resources in order to achieve reform and restructuring of banks to attract savings and return of capital immigrant , noting that the process of financial reform means liberalization of the sector to keep pace with global developments and enhance its scientific and practical .
 
Strengthen the joints of the economy
Member of the Society of Economic Iraqi Dr Akram Abdel Aziz said : Iraq has seen a change in economic philosophy and politics after 2003 , and became there are directions focused on strengthening the joint economic direction of the expansion of private sector participation in economic activity , also emerged then went to the rehabilitation and development activity private banks, which The basic foundation of the monetary policy . and followed by local banks need to manage technical and expand the circle of attention by starting the adoption of electronic systems developed internationally approved , in addition to the development of the cultural awareness of the community of the importance of private banks and insurance cash at banks civil and develop a culture of dealing with an ATM that has become a priority in the region.

Specialization
She drew Abdul Aziz that the banks need to develop the skills and energies and specialization for those working in this important sector , and here we must work to put the right person in place , which can achieve the economic viability of the banking sector through his work , as well as the need to activate the ties of cooperation with the external sector of the through the electronic clearing and settlement and other advanced systems and the diversity of banking products that can match the ambition of the local business community and foreign investors . , and pointed out that the banking reform aims to achieve a balance between the public and private sectors and to ease the burden borne by the government budget .
 
Move work
Amer Issa jeweler pointed out that the business community and investors looking for mechanisms to move the work , where there is suffering in how to benefit from public money or private to trigger mechanisms for the implementation of projects , pointing to the existence of bottlenecks banking , administrative and stagger in the adoption of good governance .
He noted that the initiatives of the Union of businessmen tend to develop the field of employment , which requires the support of the banking business all his joints through the creation of partnerships between the private and public banks and in cooperation with the owners of investment projects , noting that such cooperation did not happen until now . He said that private banks are busy in the aspects of its activity away from the real , and this symposium shed light on this matter.



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