Starting work Baghdad Economic Forum and banking

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Launched Friday businessman Baghdad Economic Forum and the first banking with broad participation from many departments of the Iraqi private banks and Arabic as well as senior Iraqi economic figures.

The forum aims to promote the opening of Arab markets to trade and investment and access to investment opportunities and identify the requirements of the banking industry and the priorities and challenges facing the financial and business sector in Iraq.

In his speech during the forum announced and central bank governor Abdul Basit Turki agency that economic administration in Iraq is heading towards a market economy system, calling to stimulate the private sector and not to rely on the central bank and make it the main source of foreign currency.

Turki said the central bank began activating its regulatory tools in order to combat money laundering coming from abroad, including money coming from the Kurdistan region of Iraq crossings.

For his part, Secretary General of the Union of Arab Banks and the International Union of Arab Bankers and Sam Hassan Fattouh said the Iraqi banking sector is still dependent on funding from the public sector, calling for a greater role for the banking sector to contribute to the increase of gross domestic product.

So stressed First Deputy Speaker of Parliament Qusay al-Suhail that the recent measures of the Central Bank of Iraq "is not deduced from the Government the private banking sector," noting that it "came to develop this sector, especially after reports from the World Bank indicate that the sector has become negative because of its reliance old banking methods. "

The forum held economic and banking for the first time in Baghdad and over two days looking through the mechanisms to develop the Iraqi banking sector and open new horizons for investment, as well as anti-bleaching and money laundering and drying up the sources of terrorism.

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Iraq is heading towards a market economy system,