********* Assurances directing the movement of funds for development

10/12/2014 0:00

BAGHDAD morning 




Mokhtassan economic affairs stressed the importance of the advancement of the financial sector at a time of cash reserve upsurge continuously, arguing the importance of the development of the banking business and to enable the joints to be supportive to the stage of economic development sought by the country.


And stressed the competent affairs in the banking Samir Alnasiri the importance of strengthening foreign exchange reserves of Iraq and reserves of gold and maintain the dinar exchange rate and raise the credit rating and focus on attracting Alasttmarat.ofatt in an interview for the "morning" to the importance of activating the application of Basel Committee (2,3) and follow-up implementation with banks and focus on risk management and the application of what can be applied to the minimum capital requirements and the supervisory review process and market discipline.



The Basel Convention, the new third developed by the Basel Committee on Banking Supervision aims to enhance the hardness of the banking systems by addressing many of the defects revealed by the global financial crisis unveiled, which poses new standards for capital and debt and liquidity to strengthen the capacity of the banking sector in dealing with the pressures of economic and financial and improve risk management and increase transparency, and will be a great contribution to the financial stability and long-term growth. 


The economic expert Tawfik Ali lost between in an interview for the "morning" that the role of the current banking sector requires to be more effective for the activities abused by the private sector, pointing out that the cooperation between the beneficiary and the public banks and mixed private and is required during the current phase, indicating that the imbalance in the relationship between these parties generate negative effects consequent transfer of Iraqi funds abroad to invest, operate and saved, either in the home owner of capital preferred Aktnazha rather than saved or invested, which the size of the role of the private sector for decades.



He pointed to activate the role of the private banking sector and make it more effective in assigning economic sectors, stressing the importance of regulating the relationship between the central bank for the banks according to the vision can be taken from recent actual role in the processes of investment and development.




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