The Association of private banks mobilize local and international effort to promote financial sector

22/9/13 12: 00 am

In order to achieve the Development Bank

Baghdad-Hussein thghb Al-Tamimi

Seek the Association of private banks in Iraq their financial sector development through mobilizing experts in regard to domestic and foreign bank through the first Iraqi banking Conference to discuss the banking development paths and mechanisms contain all the parameters that affect its access to global banking and reversible in our banks.

The first Conference

The Executive Director of the Association of private banks in Iraq Abdul Aziz hasoon revealed that a Conference will be held for this purpose is the first of its kind, is jointly sponsored by the Prime Minister to discuss the determinants of development banking mechanisms, pointing out that the future of the Iraqi economy for real growth in all its facets, and achieving positive results without sophisticated banking services to the world's progress in this area.

The reality of banking activity

He said in an interview for (morning) that the Congress logo the Iraqi banking sector and the challenges will discuss working papers, counted the banking and finance experts regard very important, as different topics starting from the reality of the banking business in Iraq and then moves into an important hub in the legislative environment available in the country and governing the work of the Bank and the new advance banking services.

Banks and development

Hasoon said other topics discussed also the banks and their role in development, investment environment, banks and banking, international relations, referring to the transition towards the international institutions and their role in the development of the banking sector and the mechanisms of action of modern banking in addition to discussing the potential and application in the framework of Basel concepts, strategic debate banking terminals and strategic profiles, will also discuss critical entitled private banks in Iraq and the implementation of the programme of micro-finance, pointing out that the Most stations will carry the debate entitled the role of banks in strategic target.

Attract capital

Finch said that the Conference will issue recommendations that will positively impact on the reality of working in the country, will stand all banking professionals in the public and private sectors to overcome the limitations of development banking, provision of appropriate legislative environment to promote banking services in terms of attracting capital and guarantees that encourage cooperation with international banks to open branches in the country,

pointing out that the Conference called most of the Ministers and members of the House of representatives and the Governor of the Central Bank and Chairman of the Economic Committee of the Council of Ministers And professional associations, in addition to businessmen representing the private sector, which is responsible for management of economic profile in the country after the move towards open market economy in which the constitutionally recognized,

as noted in the goldfinch to invite representatives of the World Bank and the International Finance Corporation, as well as the syndicate banks Association and Arabic Arabic, the crowd has a lot of proposals that support the growth of banking in the country during the coming period.

The international effort

Specialist on Islamic banking and member of the governing body of the Association Dr. Sadeq Rashid Al-shammari said that both domestic banking sector in dire need of International Bank effort, pointing out that the disruption of communication with field of international capital has created a gap between Iraq and the countries of the developed world.

Shammari said in an interview for (morning) to organize the first Iraqi banking conference that represents an international forum attended by bankers and foreigners who have the ability to communicate with the Iraqi banking sector and technological support, stand at the most important requirements of local banking services.

Legislation law

He noted that Islamic banking will have an important role in the Conference having achieved great successes in the world, and is more secure, and will be the subject of Islamic banks in Iraq and challenges.

The Conference will seek legislation law Islamic banks now administered through the instructions of the Central Bank, indicating that the law governing Islamic banking which has achieved great successes in the overall services provided by specialized banks, but we need new products could offer Islamic banking.

the Conference highlighted the economic and social development through the development of the banking business which you can access through the necessary legislation and the adoption of advanced technology, proven worldwide.