Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

UN Expert emphasizes banking sector’s role in Iraqi economy


SocalDinar
 Share

Recommended Posts

UN Expert emphasizes banking sector’s role in Iraqi economy

Added by Ibrahim Khalil on August 26, 2013.

Saved under Business

 
un-expert-emphasizes-banking-sector-s-ro

Baghdad (IraqiNews.com) The expert in the industrial development within the UN Organization (UNIDO), Ali al-Sudani, called the Iraqi State to work in reforming the banking sector in Iraq.

 

Sudani stated to IraqiNews.com ”The banking sector is an important sector in building and State economy and the Iraqi Government should pay more attention for this vital sector since it suffers from negligence and delay compared to the banks in the advanced countries.”

”The banking sector in Iraq needs to have legislated laws that facilitate the banks work and to follow up the latest technology among global and local banks to take advantage of advanced management methods,” he concluded.

Read more: http://www.iraqinews.com/business-iraqi-dinar/un-expert-emphasizes-banking-sector-s-role-in-iraqi-economy/#ixzz2d7XBhRiO

 

 

  • Upvote 2
Link to comment
Share on other sites

Here's a lengthier read on this..thanks Socal

 

UN expert: Iraq reforming its banking sector the laggard for the advancement of its economy
Monday, August 26 / August 2013 13:09

 

 

[baghdad - where]

Expert called for industrial development in the United Nations Organization [uNIDO] Sudanese Ali of the Iraqi state to work on the reform of the banking sector in order to promote the country's economy.

He says experts economy Araciyon that the banking sector in Iraq suffers from many challenges and needs to be comprehensive reforms with a view to its main functions to be able to keep up with international developments and operates according to its standards.

He said the Sudanese in a statement received by all of Iraq [where] a copy of "The banking sector is an important pillar for the advancement of the overall economy of the country, and the Iraqi state that contribute to its development because it suffers from a lot of reluctance and weaknesses and not keep up with the development that is happening in the banking sector for the countries of the world, form has become a heavy burden on the Iraqi economy. "

He said the Sudanese that "the development of the banking sector is through legislation that the House of Representatives laws to facilitate the work of banks, in addition to working on the need for cross-fertilization of experiences between international banks and local transfer of modern technology and good management, and reduce the dominance of state banks on the market banks, which currently stands at more than 80%" .

The economists pointed to an imbalance significantly in the banking system boils down to having huge liquidity but untapped promised this phenomenon Balemczuhh of banking activity, calling for investment of the money supply by expanding lending and the benefits of soft addition to the need to strengthen the partnership between the public and private sectors as a optimal treatment imbalances faced by the country's economy in the current transitional phase and follow-up program of economic reforms at all levels in order to increase economic growth, especially in light of the new economic trends in the shift towards a free market economy.

It is noted that with the tens of millions of potential customers who have a few of them only bank accounts, Pat Iraq represents an ambitious target of banking institutions the world, especially that the Iraqis are looking forward now to banking services is greater than those available to them is that the old laws of the banking sector and the economic, and the majority banks controlled by the government, and weak infrastructure for this sector, in addition to a huge number of obstacles Other political Kalazmat, and the security situation, make the banking activity in the country is not guaranteed results for businessmen and foreign banks. ended.

 

http://www.alliraqnews.com/index.php?option=com_content&view=article&id=95920:2013-08-26-09-40-32&catid=37:2011-04-08-17-25-57&Itemid=56

  • Upvote 1
Link to comment
Share on other sites

Do I like the UN and respect their opinions? No to a large degree...but...it is still an outside source saying that Iraq's banking is not up to speed with the rest of the world.  So how could they even handle what would happen with a RV? Yet we know they are running businesses, they have a stock market and there are plenty of big daddy Warbucks that want to see Iraq succeed. Surely somebody is overseeing the banks that has the knowledge and desire to see Iraq get up to par with the rest of the world! Everybody cant be asleep over there!  

Link to comment
Share on other sites

Do I like the UN and respect their opinions? No to a large degree...but...it is still an outside source saying that Iraq's banking is not up to speed with the rest of the world.  So how could they even handle what would happen with a RV? Yet we know they are running businesses, they have a stock market and there are plenty of big daddy Warbucks that want to see Iraq succeed. Surely somebody is overseeing the banks that has the knowledge and desire to see Iraq get up to par with the rest of the world! Everybody cant be asleep over there!  

***///

 

Agreed.... how can the auctions alone really be driving every single nook & cranny of the entire Country?

 

Okay, well that AND the black market.....

 

We read of Iraqi's tearing off pieces of IQD, they are SO desperate for lower denoms....

 

We know they had the DeLaRue machines,

the LD's were supposedly printed, then rejected then printed again (we hope!).

 

Everything seems to be a go.....

 

but behind the scenes, the subtleties of getting an entire banking grid up and running from scratch - especially with so much interference from the GOI - it must be extremely difficult for them - even with help.

 

Live in Hope, Lest We Die in Despair...... :(

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.