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01-26-2014, 10:06 AM
Participants: banking reform axis starting economic development processes (http://www.alsabaah.iq/ArticleShow.aspx?ID=62803)


25/1/2014 12: 00 am

The Symposium examined the balance between public and private sectors

Baghdad-Hussein thghb Al-Tamimi, Farah pumice

Bankers and economists examined the mechanisms of financial sector development and the possibility of expanding the product offering to the public of beneficiaries of different banking needs, stand at the most important parts of the financial sector and the possibility of investment in the productive and service sectors activation (by participants in the meeting of businessmen and international projects).

Treatment legislation

President of the Federation of businessmen wants satisfaction Ragheb said that the meeting dealt with the obstacles facing the banking sector and the private sector and go into the challenges that confuse the reality of work, where we meet with the aim of reaching a formula to boost the private sector and deal with legislation that hinder the advancement of all his joints.

the Federation is the Organization of such forums where a meeting was organized during the last month the Iraqi economy through an integrated system, and will hold a meeting next month with attempts to enter Iraq to region Global trade.

Motivational procedures

And the importance of direct Avenue to implement sectoral alstratigiat approved and the approval and implementation of alstratigiat which in the authentication phase as well as the serious implementation of economic laws through solid institutions and a motivational package and revitalized the economy, serious management of sectoral bodies responsible for each of them, with the active participation of the private sector in the preparation and resolution, implementation, monitoring and follow-up.

Ragheb said that previous meeting recommended the establishment of the Higher Council for planning (or Supreme Economic Council) the Interleave of all sectoral alstratigiat and determine the strategic vision of the country and the policies and perspectives under the priorities, as the monitoring and evaluation process of operational procedures and continue her materializations and correction when needed.

Support of business organizations

International special projects Manager Mathy said: our work since 2003 to provide technical support to organizations and business associations through the strengthening of its role in economic reform across many programs, including agendas and develop investment commissions in all provinces aimed at creating attractive working environment for economic development, pointing out that the meeting deal with banking reform that has played a pivotal role in recycling economy and growth rates commensurate with the aspirations of the beneficiaries.

The financial and banking reform required the establishment of financial system mobilizes resources to achieve reform and restructuring of banks to attract savings and return on capital, indicating that the process of financial reform means liberalization of this sector to keep abreast of global developments and to raise the scientific and practical abilities.

Strengthen the joints of the economy

Member of the Association of Iraqi economists Dr. Akram Abdel Aziz said: Iraq has seen a change in the political and economic philosophy after 2003, there are trends focused on enhancing economic joints to expand the contribution of the private sector in economic activity, it also emerged later went to the rehabilitation and development of the activity of private banks which are central to monetary policy.

the local banks need to manage and expand the circle of attention by beginning with the adoption of advanced systems international, in addition to developing cultural awareness in society of the importance of Private banks and ensure liquidity in banks and develop a culture of dealing with ATM, which has become a priority in the region.


Drew Abdel Aziz that the banks need to develop skills and energies and specialization for those working in this sector is important, and here you must put the right person in place that can achieve the economic viability of the banking sector in the course of its work, as well as the need to activate cooperation with external sector through electronic clearing and settlement and other advanced systems and the variety of products that can match the ambition of the local business community and foreign investors, noting that the banking reform aimed at achieving a balance between the public and private sectors And to alleviate the burden borne by the State budget.

Move action

Amer Issa Al-jawahiri noted that the business community and investors looking for mechanisms to move the work, where there is suffering, how to take advantage of public or private property to trigger the mechanisms for the implementation of the project, pointing to a Bank and administrative bottlenecks and confusion into the adoption of good governance.

He noted that the initiatives of businessmen tend to develop the field, which requires the support of all its banking business through the creation of partnerships between the public and private banks and in cooperation with the owners of the investment projects, adding that such cooperation did not get far.

He said that private banks were busy in real activity, away from this symposium highlighted this.