A partnership of private and public fundamental element in the development

12/15/2014 0:00

Assurances of the importance of providing an appropriate environment
BAGHDAD - morning


The role of the partnership between the public and private sectors is a cornerstone in the process of economic development, and standardization efforts in Bodqp one is an urgent need to address the determinants of economic advancement (according to the honored banking specialist).

Association of private banks in Iraq is a member Muhannad al-Saadi said that the public and private sector partnership achieve integrated process of economic reform, pointing out that providing an appropriate environment to activate the production and services is the responsibility of the public sector, while you find the private sector has the operational capacity and capital that can be invested in projects developmental.

He added in an interview (morning) that the government program focused on the role of the private sector and give him a great importance in the economic file management, especially as the Iraqi constitution within the transition towards open market economy, which gives the opportunity to the economic file management mechanism and the role-oriented economic processes the state.

Saadi said the big task in front of banks in contributing to addressing inter problems facing the economy at the level of the country, pointing to the need to work to make the private banks a key partner in the process of activating the joints of the Iraqi economy Baktaath production and service.

He pointed out that the reality of the structures of greeting in the country is suffering a state of collapse, adding that the mission to contribute actively to the development of private banks it by employing their funds in the implementation of infrastructure projects in all cities of the country, and its role in creating many job opportunities to a large segment of young people.

The students benefit from the experiences of countries lived the same experience of our country and the private sector was a pioneer in the development of its economy through the interaction that took place between the private and public sectors, as required by the designated authorities provide attractive environment for international effort and capital required for the activation of investments in the country.

He urged the importance of unifying the efforts of the state and the central bank to serve the local economy and there is more convergence to draw policy supports the production and service sectors of the economy, noting that it helps to activate the executive programs in the country, which are the responsibility of private companies.

Saadi said that the banking sector, despite the circumstances in which he lived, but he was able to attract money and help finance projects and the opening of its own funds, as well as granting loans to junior staff and entrepreneurs, calling on the central bank to move away from pure control and orientation control assessment and self-censorship out of forms specifically for her work .

He pointed out that the private banking sector is working to hold seminars and courses of development in order to reach the level of financial institutions are working professionally in the region and the world, pointing out that it needs to be given an adequate opportunity to prove the existence, as must the central alter his view of private banks and not be taken all lost in some of the banks that failed in the field of work.

And the implications of not approving the budget-Saadi said the private banking sector said to suffer a liquidity crisis due to lack of approval, as well as the stalled projects in more than one sector, pointing to the importance of creating an attractive environment for capital and labor to reduce the reverse migration of capital, indicating the importance of money to invest in the country and employment in sustainable development.

He pointed out that most of the private banks is working to raise the proportion of services provided to customers, including the United Bank for Investment, which relies best banking systems regionally and internationally, as has been the involvement of specialist human cadre to enable the most advanced technology in global banks, which operate on the adopted gradually in the bank and other banks dependent with developmental contexts.
He said the regional banks offering more than 100 banking service while our banks today did not serve up to 20 service at best, pointing out that the country in dire need of advanced technology, particularly that of the private banking sector has the human resources trained on this technology.
He concluded Saadi his reference to the importance of working on the deployment of banking culture in the country, and provide guarantees for savings storehouse of financial mass in houses within the private banks and employ them in the process of economic development, pointing to the importance of the development of an institution to guarantee deposits for its important role in the revitalization of the movement of funds within the private banking sector.


http://www.alsabaah.iq/ArticleShow.aspx?ID=82532