***IMPLEMENTATION OF BASEL BANKING STANDARDS IN IRAQ

>
>
> Banking expert Basel banking standards should apply in Iraq to
> improve performance and adopt international standards
>
> Posted: November 4, 2013 in Iraqi Dinar/Politics
> Tags: Bank for International Settlement, Basel, Basel Committee on
> Banking Supervision, Central bank, Iraq, List of banks in Iraq,
> Switzerland, United States
> Expert:Basel standards rise the performance of the Iraqi banks
>
> 11/04/2013 12:00 AM
>
> Baghdad ? Mostafa Hashemi
> counting expert bank standards Basel banking in Iraq from the good
> things that drive to achieve stability through the creation of fair
> competition between government and private banks through the
> services provided by these banks to citizens.
>
> And said banking expert Samir ??????? to apply the terms of the

> Basel in Iraq between the central bank and other banks would improve

> the performance of banks, indicating the importance of the

> application of Basel standards across the follow-up developments

> taking place on the subject of Basel standards (2 and 3) in order to

> prepare for its implementation and adoption of international

> standards with regard to capital adequacy rate and liquidity ratio.
>
> added ??????? told ( morning) that work on the follow-up application

> of the principles of Basel?s main operational risk management

> ensures that the risks associated with all types of products,

> activities, processes and systems adopted by the banks.
>
> pointed to the need to provide a base of information flowing in the

> bank, which play an important and key role in establishing and

> maintaining a framework effective management of operational risk. In

> addition to follow-up the extent of owning banks an effective system

> for identifying, measuring and monitoring operational risk as part

> of risk management.
>
> stressing that the banks do disclose risks to participants in the
> financial market and banking evaluate their exposure to operational
> risk and the quality of their management of operational risk.
>
> aims of the Basel Committee to help strengthen stability the global

> banking system, especially after the worsening crisis of external

> indebtedness of developing countries, and remove an important source

> of competition is fair between banks arising from differences in the

> requirements of national controls on bank capital, in addition to

> working to find mechanisms to adapt to changes global banking and

> foremost financial globalization which stems of financial

> liberalization and market liberalization cash from banks, including

> legislation, regulations and constraints that limit the widening and

> deepening of the banking activity of banks across the world in the

> light of the technological revolution. The committee aims to improve

> techniques for the control of banks and to facilitate the

> circulation of information about those methods between the monetary

> authorities different.
>
> , founded the Basel Committee on Banking Supervision, under the name
> of (Commission banking systems and practices SFC), the initiative of
> the central bank governors of the Group of ten major end In 1974,
> under the supervision of Bank for International Settlements in
> Basel, Switzerland, was limited to members of officials from the
> bodies of banking supervision and central bank governors of those
> states (which became 13 states), represented in Belgium, Canada,
> France, Germany, Italy, Japan, Netherlands , Switzerland, Sweden,
> Britain, Spain, Luxembourg and the United States of America (OECD).


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