Central and competitive

15/8/2017 1:06 am

Hussein Thagb

The financial sector is the real starting point for any construction and reconstruction of any size, and it must be supported by its advanced products for economic activities.

We are in the process of developing the banking sector and the competition must be the master of the stage of development as it is happening all over the world to create an effective financial sector, which is the most important axis to achieve the development in an accelerated world in this field.

The Central Bank should make competition an important development by encouraging all financial institutions to provide the same services. Here, it is possible to benefit from the experiences of the regional countries in this field and to encourage any institution that has a real direction in bringing about development and support through quick facilities for this service.

The center and its course, which we witnessed during the last period and aimed at developing the financial sector and actually the most recent development launched by the international institutions, bypassing the pages of patronage and abhorrent seduction which is useless in the development of the country, which requires that the competition be the basis of the advancement of the financial sector Beneficiary looking for advanced and fast service provided by it Time and effort in that one and this is possible in light of the rapid developments witnessed by the financial sector internationally and Nrom transfer to our financial sector and this goal can not be informed only by giving the competition legitimate right and that banks are racing to find formulas A new attraction for the beneficiaries, especially as the central tendency towards financial inclusion, which carries a real transition in the lives of all members of society.

The financial sector needs the combined efforts to compete in bringing advanced technology and modern services, relying on our own efforts and under the supervision of the Iraqi Central, and as long as we are out of monopoly, this is possible in a country waiting for a promising economic future needs a huge number of banks to facilitate the process of managing the money and transport.

The large numbers need a sophisticated banking sector that offers the best products that are adopted in the countries of the developed world. This can be attained by creating human competencies, and according to our knowledge, the central is the first of this importance and the creation of advanced competencies in electronic payment systems, which requires that this experiment be publicized in all public and private banks. Competitiveness Faisal phase between banks exclusively.

The country is facing the polarization of advanced technology that strengthens the capabilities of the financial sector and gives it the opportunity to bring about a major development in products, and here it is imperative that there be an active role supported by the Association of Private Banks to move banks in this direction and the diagnosis of banks that have sophisticated systems and support and exempt them from instructions that may make slower development .

The next round is a technological competition, and by addressing this matter, it will remain strong in the arena of the promising and large Iraqi economy at the level of the region and the world.

http://www.alsabaah.iq/ArticleShow.aspx?ID=142649