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Activating the role of Iraqi private banks to contribute to development

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Activating the role of Iraqi private banks to contribute to development

 

 

   
 

 
 

4/26/2016 0:00 

 Adnan Kanani 

Iraqi banking sector is facing many challenges , which requires far and fast and my grandfather, more than ever, the need for reform and development of the banking sector and the unification of the ranks, and the establishment of the Iraqi Association of Banks, and focus on the development of the financing mechanisms of the banks in order to escalate and the development of banking products and services to increase financial inclusion and cover a larger percentage of the population, and increase the number of beneficiaries of bank loans, especially the medium and small enterprises and micro and need hard work and effort in order to get concrete results ». the 

banking sector is facing many challenges because of its close association with the Iraqi economy , which is facing at the present time many and complex challenges, and perhaps the most prominent of those facing the banking business to keep up with the activities and services of Arab and international banks to the needs of development in various forms process, and the fact that the nature of the economy requires a reliance on small and medium enterprises in economic development programs therefore have to focus on this aspect in the forthcoming her role any banks. 

as the goal of financial inclusion must be directed to these groups primarily, as well as individuals from low - income families in order to achieve financial inclusion in order to promote sustainable development programs and activating the role of government and the private banking sector in the process of activating the role of the economy, so it is necessary to work to identify essential points that allow for the exchange companies and post offices open savings accounts due to the limited surplus available for the segment of customers from low - income owners of private income that minimum balance fees and maintenance of bank accounts imposed by commercial banks to cover the huge investments in infrastructure development , which requirements, preventing enables these customers from opening savings accounts, through the lifting of these restrictions of 

 art. 

I see that Iraqi banks are still to Atrqy to the ranks of Arab banks and the World and lacks the provision of sound banking services, and actually are «shops» to sell the currency, so we urgently need a real banker aware, there at least $ 30 billion traded in the Iraqi market is deposited in a bank, and chunky in the role (houses) », and here the role of the Central Bank of Iraq , comes the need to speed up the development of an emergency plan to attract these funds for investment. 

banks and be more serious in provide prestigious clients banking services in order to attract these saved money because it inevitably will contribute to move the Iraqi economy and fix bugs in the basic supporting infrastructure. 

«in order to make a leap of quantity and quality in the banking activity in Iraq has to be government interference quickly to issue immediate guidance in the « activate Iraqi Doralmassarv, because the development of determinants and obstacles to the work of the banking sector will inevitably delay the work of banks, that the aim of moving the wheel of the economy and diversify sources and reduce unemployment and to hold corrupt and negligent. 

the political and economic destruction requirements change and put in front of him many new challenges as well as the emergence of many activities , especially, Iraq today is going through in a matter of Mali is difficult due to lower oil prices, at a time when its economy was characterized as a mono over several decades, it 's time to revitalize the economy, agriculture, tourism and other sectors, and to accelerate pursuing a new philosophy of state based on free economy and privatization, it is supposed to support the actions of this transformation through the emergence of a banking sector strong actor, and here comes the role of the banking sector to play a positive role by conducting an objective review problematic in some private banks , which harmed the interests of some of its customers and weakened the confidence to deal with it over the past years. 

as well as the need to speed up the implementation of lending for industrial and agricultural projects, housing initiative with $ 5 trillion dinars, as well as a trillion and a half trillion dinars for small businesses , which was launched a few months ago through the confirmation of the Iraqi government to take serious steps to ensure the success of these initiatives. 

the reality and prospects of development of the banking sector in Iraq and the challenges faced by our point of view in shaping the strategy and the contribution of the Iraqi banking sector in economic development We have to contribute effectively to support the reconstruction and development and investment. 

 required a comprehensive plan of reform and development of this vital sector and not Mejrdavkar insights and recommendations written in terms, we want a serious reaction and take the correct and proper implementation measures in order to upgrade the field work of private banks through attention to human resources Iatmdalleha success or failure in the work of the Iraqi banking sector and seriousness in providing sound and modern banking services offered by the banks of neighboring countries , especially Jordan and Lebanon and the Arab Gulf states, Turkey and other countries of the world to an audience of beneficiaries.

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sounds like grandpa remembers  when the Iraq dinar had  some  kick butt value  and  most likely  was traded as  the dollar is traded today ...   grandpa needs  his  new chews  for  his  feetiees   ^_^   get  the dinars back too the good ol` day  values

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The readiness of banking institutions determine the growth of the economy

 

 

   
 

 
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4/27/2016 0:00 

 BAGHDAD - Imad Emirate

D said. Fouad Youssef from the Faculty of Management and Economics at Mustansiriya University, said that the banking reform requires a real and fundamental overhaul of banking transactions from traditional roots to contemporary tender to provide the service on a personal level or business locally or globally on the basis of that measure the progress and growth of the economy of the country measured by the readiness of banking institutions to accept the rapid global changes and activate trade and formulating monetary and credit policies to suit global and policies, taking into account the economic Privacy for this country.

Credit money and added d. Fouad Youssef «Banking Corporation is of important contexts in money creation credit necessary for customers to contribute to the growth and progress of fiscal and monetary development on a global level, and the importance of banking reform came in restoring its banking engineering and drafting of policies and programming structure in harmony with the developments and new capabilities to draw knowledge of cognitive and enter the world of information and communication and the creation of a quantum leap by moving reality banking, economic , and keep up with it ideas and institutional policies that reduce the cycle of routines to dynamic banking service. » balance of competition and drew Joseph, that banking reform is designed to achieve a balance in competition between the public and private sectors and to allow the process the way for private sector initiatives, because this process is an integral part of economic reform programs because they represent a radical change needed for economic development of economic policies, and to mitigate the burden on the state budget economically and went public spending towards infrastructure facilities of importance of strategic support. this comes from through the financing of small and medium enterprises and companies to the private banking sector, and make it a support for the banking sector year in this financing operations because of its positive impact on the state budget, so that government funding will be focused on infrastructure projects to support the process of economic development, increase savings optimized and used to finance investments and projects that help to achieve the objectives of economic development and raising the people 's living standard. external shocks also contribute to enable the economies of the countries seeking economic reform to adapt their economies to face the requirements of economic development, as well as to face the external shocks that occur in the financial and monetary markets and its impact on other sectors economic, and aims banking reform to create a bank financial systems intact in order to strengthen macroeconomic stability and accelerate the pace of the desired economic growth, as banking reform works to reduce credit costs and increase the benefits from the market and make more transparent and competitive. mail performance and pointed d. Fouad Youssef, that global variables in a digital world and the information age is moving towards the use of electronic performance alternative to traditional in the completion of many transactions, especially banking ones, and became computerized banking stocks axis springboard events and activities of many organizations Ktmouh towards the top of the financial and banking transactions and credit with the assistance of the head of intellectual capital and knowledge accumulated by the human resource and the need for disciplines with high skills. He concluded d. Fouad Youssef on to say that he « has become appropriate to provide banking services to electronically adapt these variables, as this technology has helped in providing a  handler method is based on electronics (electronic cards modern, electronic networks, electronic payment systems), became an urgent necessity to reform banking for the transfer of monetary and financial world , and credit to the method is based on the pillars of contemporary systems  is the use of modern technology contribute to laying banking services are harvested in which customer satisfaction and achieve economic growth through fiscal, monetary and credit transactions growth, since studies and trade field for many investment banks have shown that use of the service technology banking shares have an effective contribution to the transfer of the banking reform movement to improve the value of transactions between the bank  and the customer. »

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