Bankers: Reform requires the confidence of the private banks
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Bankers: Reform requires the confidence of the private banks
1/28/2014 0:00
Examined the ways of development of the sector and its products
BAGHDAD - Shkran Fatlawi
Student bankers to expedite the reform of the banking reality and give the private sector banks more confidence and interest , arguing the need to get out of this crisis came during a seminar expanded hosted by the Institute for the progress of policy development during which discuss the crisis, the banking system in Iraq and the ways out of this crisis .
President of the Institute for the progress of development policies d . Mehdi al-Hafez accept it at the beginning of the seminar a number of important points indicating the importance of visibility and integrated to address the economic problems of economic life for all sectors , including the banking sector.
The creation of a middle class
Hafiz stressed that Iraq's future is directly linked to the promised creation of a growing middle class and economic reform and monetary and financial and reconsider all traditional practices that weakened the strength and vitality of the economy driving Kalmward financial and other .
Indeed, the banking
Advisor to the World Bank to restructure the Iraqi banks , an economist Majid picture talked about the reality of the Iraqi banking sector and the big problems that afflict pointing out that the banking system is made up of 54 banks , including seven state banks , one of them an Islamic newly established and there are 23 commercial banks, a special 9 of which Islamic banks as well as The presence of 15 branches of foreign banks not to mention the many institutions that do some banking , including 34 companies transform Mali, about 200 companies banking subsidiaries of banks or dealing with banks or with the company to ensure the loans and the company to finance small and medium enterprises with the two companies for banking services and electronic smart card as well as some 800 belonging to the branch banks and distributed among all of Iraq's provinces .
Heavy legacy
He attributed the picture deterioration of the banking reality to the heavy legacy inherited by Iraq and led to the collapse of the Iraqi economy and the failure of the banking system as a result of war and siege , militarization and entangle banks, government relations internal and external complex led to the obvious weakness in the banking culture and the decline of international confidence and the decline of the role of banks in economic activity and development .
Banking reform
Suri gave a brief vision of reform through the banking restructuring of government banks ( Rafidain and Rasheed ) and specialized banks and credit controls at the central bank , pointing to the need for the reform process and the development of appropriate regulations based on Basel .
Restructuring of the banking system
He added the picture that in 2006 signed a Memorandum of Understanding between the Ministry of Finance and the Central Bank of Iraq under the auspices of the International Monetary Fund and the World Bank and the U.S. Treasury to achieve the program of restructuring the banking system in Iraq pursuant to one of the terms of reference between Iraq and the International Monetary Fund relating to the restructuring of the Iraqi state institutions included the re- consider the organizational structure and diagnose problems of financial , operational and regulatory faced by all government banks .
Governance
Suri pointed to the importance of achieving everything related to the principles of good governance and to issue appropriate regulations by the central bank to regulate the work of the government and private banks .
And the importance of the revision of laws related as well as activating the role of the central bank in monitoring and supervising the work of banks without distinguishing between public and private , noting that this requires the establishment of Higher Supervisory Committee to oversee the achievement of the restructuring of banks consisting of the Governor of the Central Bank and the Finance Minister and Chairman of Supreme Audit Finance.
The international banking industry
Between the picture and the aim of the restructuring is to strengthen the internal construction of the banks and work on the foundations of good governance and upgraded to the level of the international banking industry and activating the role of banks in economic activity and the process of economic development as well as the development and consolidation of international relations of the Iraqi banks .
He stressed the need to develop the banking culture and change the thinking of the methodology employed in the banking industry in Iraq.
He pointed to the picture that all the studies submitted by the consultants confirmed that it can not achieve the principles of good governance , control and surveillance and immediate precautionary by the banks and the supervisory authority , but using the banking system overall .
Restructuring
He explained that the achievement of the restructuring of the banking system in general , both the government and the civil procedures and requires constant monitoring , pointing to the need for legal reform of the banking sector
Indicating that it will lead to improving the performance of Iraqi banks and improve the local and global reputation , noting that it will not work on activating the economic role that did not make the necessary amendments in the Banking Act that are consistent with the requirements of the Iraqi economy is growing .
Distinction between goals
He called at the conclusion of his speech to the need to distinguish between the activity of banks on the basis of the goals established for it , and to identify areas of work in accordance with the requirements of the stage on the basis of commercial banks are actively banker and investment banks is determined by its work in the field of investment , and Islamic banks operate according to Islamic law and the banks developmental work within the the objectives of the economic policy of the state in the areas of productivity , in particular such as industry and agriculture.
Dr Mehdi al-Hafez said at the conclusion of the meeting the importance of developing and expanding research in economic and financial issues and start the adoption of an integrated program for it , pointing out that this is what seeks him " the progress of the Institute of Policy Development " in the future .
http://www.alsabaah.iq/ArticleShow.aspx?ID=63078
Examined the ways of development of the sector and its products
BAGHDAD - Shkran Fatlawi
Student bankers to expedite the reform of the banking reality and give the private sector banks more confidence and interest , arguing the need to get out of this crisis came during a seminar expanded hosted by the Institute for the progress of policy development during which discuss the crisis, the banking system in Iraq and the ways out of this crisis .
President of the Institute for the progress of development policies d . Mehdi al-Hafez accept it at the beginning of the seminar a number of important points indicating the importance of visibility and integrated to address the economic problems of economic life for all sectors , including the banking sector.
The creation of a middle class
Hafiz stressed that Iraq's future is directly linked to the promised creation of a growing middle class and economic reform and monetary and financial and reconsider all traditional practices that weakened the strength and vitality of the economy driving Kalmward financial and other .
Indeed, the banking
Advisor to the World Bank to restructure the Iraqi banks , an economist Majid picture talked about the reality of the Iraqi banking sector and the big problems that afflict pointing out that the banking system is made up of 54 banks , including seven state banks , one of them an Islamic newly established and there are 23 commercial banks, a special 9 of which Islamic banks as well as The presence of 15 branches of foreign banks not to mention the many institutions that do some banking , including 34 companies transform Mali, about 200 companies banking subsidiaries of banks or dealing with banks or with the company to ensure the loans and the company to finance small and medium enterprises with the two companies for banking services and electronic smart card as well as some 800 belonging to the branch banks and distributed among all of Iraq's provinces .
Heavy legacy
He attributed the picture deterioration of the banking reality to the heavy legacy inherited by Iraq and led to the collapse of the Iraqi economy and the failure of the banking system as a result of war and siege , militarization and entangle banks, government relations internal and external complex led to the obvious weakness in the banking culture and the decline of international confidence and the decline of the role of banks in economic activity and development .
Banking reform
Suri gave a brief vision of reform through the banking restructuring of government banks ( Rafidain and Rasheed ) and specialized banks and credit controls at the central bank , pointing to the need for the reform process and the development of appropriate regulations based on Basel .
Restructuring of the banking system
He added the picture that in 2006 signed a Memorandum of Understanding between the Ministry of Finance and the Central Bank of Iraq under the auspices of the International Monetary Fund and the World Bank and the U.S. Treasury to achieve the program of restructuring the banking system in Iraq pursuant to one of the terms of reference between Iraq and the International Monetary Fund relating to the restructuring of the Iraqi state institutions included the re- consider the organizational structure and diagnose problems of financial , operational and regulatory faced by all government banks .
Governance
Suri pointed to the importance of achieving everything related to the principles of good governance and to issue appropriate regulations by the central bank to regulate the work of the government and private banks .
And the importance of the revision of laws related as well as activating the role of the central bank in monitoring and supervising the work of banks without distinguishing between public and private , noting that this requires the establishment of Higher Supervisory Committee to oversee the achievement of the restructuring of banks consisting of the Governor of the Central Bank and the Finance Minister and Chairman of Supreme Audit Finance.
The international banking industry
Between the picture and the aim of the restructuring is to strengthen the internal construction of the banks and work on the foundations of good governance and upgraded to the level of the international banking industry and activating the role of banks in economic activity and the process of economic development as well as the development and consolidation of international relations of the Iraqi banks .
He stressed the need to develop the banking culture and change the thinking of the methodology employed in the banking industry in Iraq.
He pointed to the picture that all the studies submitted by the consultants confirmed that it can not achieve the principles of good governance , control and surveillance and immediate precautionary by the banks and the supervisory authority , but using the banking system overall .
Restructuring
He explained that the achievement of the restructuring of the banking system in general , both the government and the civil procedures and requires constant monitoring , pointing to the need for legal reform of the banking sector
Indicating that it will lead to improving the performance of Iraqi banks and improve the local and global reputation , noting that it will not work on activating the economic role that did not make the necessary amendments in the Banking Act that are consistent with the requirements of the Iraqi economy is growing .
Distinction between goals
He called at the conclusion of his speech to the need to distinguish between the activity of banks on the basis of the goals established for it , and to identify areas of work in accordance with the requirements of the stage on the basis of commercial banks are actively banker and investment banks is determined by its work in the field of investment , and Islamic banks operate according to Islamic law and the banks developmental work within the the objectives of the economic policy of the state in the areas of productivity , in particular such as industry and agriculture.
Dr Mehdi al-Hafez said at the conclusion of the meeting the importance of developing and expanding research in economic and financial issues and start the adoption of an integrated program for it , pointing out that this is what seeks him " the progress of the Institute of Policy Development " in the future .
http://www.alsabaah.iq/ArticleShow.aspx?ID=63078
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