Saadi: remiss in financing private sector banks

[yota691]

Saadi: remiss in financing private sector banks

 

 

         

9/2/2015 0:00 

Indicates a structural defect of the financial intermediaries 

 BAGHDAD - Hussein Tgb 

implementation of development work requirements based on the whole to repair the window legislative environment to reach the desired goal (according to an expert in economic affairs), which stressed that the promotion of productive sectors is an urgent need at the present time and in the light of the financial distress suffered by the the country. 

President of the Securities Commission d. Abdul-Razzaq al-Saadi said: "The promotion of investment attraction must coincide with the structure on various aspects of the legal structures and economic institutions, as well as aspects of fiscal spending adjustments," and that just switch on or legislation law will not lead to the desired results, if not accompanied by a review of profound of all other laws and the application of international standards and the development of the stock market combination. 

He added in an interview for the "morning", that "the banking system bears a major responsibility in the success of economic reform programs. We believe that there are some shortcomings of the private sector, especially owned by him in the field of cooperation and financing of the private sector in projects banks common, "pointing to the existence of a structural failure of the financial intermediaries in the revitalization of the capital market. 

Market economy Saadi said: "According to the constitution must be a shift from totalitarian economy to a market economy and this commitment in front of everyone, but that in spite of ten years after the private sector continues to suffer of marginalization, including exacerbate the negative effects of the continued existence of many of the legislative and legal obstacles. " He said the existing legislation in many sectors need to be a real consideration and not cosmetic, to enhance the overall growth in the framework of a reform process and wide, including various aspects of government work, to eliminate corruption and bureaucratic control and other inherent diseases for many departments and institutions. He stressed that the current and the next phase require activating the role of the private sector in sustainable development, as have a lot of potential and capabilities promising idle and unused, raises the importance of the development of the local business environment so as to be polarized national and foreign investments. In addition to the presence of cash block inside and outside the country code could be employed if there is the environment for it. implementation of programs in the light of the above, we can say that the current situation is going through the country needs us to embark on the implementation of the privatization, taking into account the social aspect programs according to a deliberate standards. Because what we need is the privatization capable of causing new flows of domestic capital and foreign able to pay the production process and is not privatization, which serves some of the expense of the majority. Hence the importance of a balanced economic policies, founded on the stability of fiscal and monetary policies (by Saadi) and aimed to take over deficit and inflation and bring about a balance in the exchange rate to achieve the overall stability of the national economy based on the consecration of transparency and disclosure and away from the foggy and confusion. He pointed to the importance of the stand at the problem of unemployment as one of the crucial issues because the number of unemployed is increasing, which means that the issue of education should be considered and dealt with seriously Vmkhrjat our education system does not meet the needs of the labor market. transparency and pointed to the adoption of transparency mechanisms where there are a lot of obstacles in the investment climate because of the lack of transparency and the existence of policies and laws militant and gave laws and confused and weak public institutions that interact with investors. Saadi between the axis the foundation for success is to bring about the desired reform of the economy and represents the establishment of a close partnership between the private and public sector transparency and confidence and asking local that represents two people interested, and requires the achievement of such a partnership exceeds the prevailing method in which the private sector's role is limited to receiving the economic, financial and legislative decisions but only work on involvement in the making of these policies through greater communication between government officials and representatives of the private sector and the real meetings and regular meetings to discuss their concerns and problems and work on them level.

 

[yota691]

Saadi: remiss in financing private sector banks

By Adminsa 9.2.2015 eleven fifty-two a.m. | Views: 360

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Brother - Baghdad

 

Chairman of the Securities Commission Abdul-Razzaq al-Saadi said that "the banking system bears major responsibility for the success of economic reform programs. We believe that there are some shortcomings of the private sector, especially owned by him in the field of cooperation and financing of the private sector in joint venture banks," pointing to the existence of a structural failure of the institutions financial intermediation in the revitalization of the capital market.

He said al-Saadi said in a statement seen by the Agency for News Agency (et), "according to the constitution must be the transition from a totalitarian to a market economy and this commitment in front of everyone, but that in spite of ten years later, the private sector continues to suffer from marginalization, including exacerbate the negative effects with the continued existence of many of the legislative and legal obstacles. "

He said the existing legislation in many sectors need to be a real consideration and not cosmetic, to enhance the overall growth in the framework of a reform process and wide, including various aspects of government work, to eliminate corruption and bureaucracy, control and other associated diseases for many departments and institutions.

He stressed that the current and the next phase require activating the role of the private sector in sustainable development, as have a lot of potential and promising capacity idle and unused, raises the importance of the development of the local business environment so as to be polarized national and foreign investments. In addition to the presence of a cluster of cash inside and outside the country code could be employed if there is the environment for it.

 

In light of the foregoing, we can say that the current situation is going through the country needs us to embark on the implementation of the privatization, taking into account the social aspect programs according to a deliberate standards. Because what we need is the privatization capable of causing new flows of domestic and foreign capital are able to pay the production process and is not privatization that benefits some at the expense of the majority.

[wbuse984]

Thanks Yota

[Texstorm]

In addition to the presence of cluster of cash inside and outside the country code could be employed if there is an environment for it ! Thanks Yota ! If they are talking about dinars we are on the right track....... Go RV !