Baghdad Economic Forum recommends to reconsider the Central Bank Law and Banking Law

Baghdad Economic Forum recommended banking and the development of the retail payments system through the adoption of the latest information technology systems and electronic payments. “

He’s recommendations in his closing statement today, today, “the importance of activating Mrkzaltdreb banking within the central bank’s plan to develop the Iraqi monetary policy in Iraq and raise the level of banking culture and diversification of banking services in cooperation with the Union of Arab Banks and the Union of Iraqi banks. “

The recommendations to “unite the efforts of Iraqi banks in the public and private sectors and work closely on the development of the Iraqi banking sector., Legislation and laws governing the work of Islamic banking with its products and services comply with Islamic law. Well as a review of the banking laws to make the investment law. Addition to re-consider the Iraqi Central Bank Law and the laws that regulate the work of Iraqi banks to conform with the requirements of the current stage to contribute to the promotion of investment and engagement with the private banks and investors in the financing and development of projects and economic infrastructure. “

The recommendations stressed “on the application of international standards relating to the control, internal audit and further opening branches in various areas to be an average of one branch for every 25 thousand people with the global standard depends ratio of one bank for every 5 thousands of people in the developed countries. “

During the forum, which was launched in Baghdad yesterday held 4 meetings lasted over two days discussed during which a number of topics, mainly economic reform and banking sector in Iraq and growth banking / role of banks in financing the economy / and prospects of investment and reconstruction in Iraq and the role of the productive sectors and the chances of success of Islamic banking.

The forum systems Union of Arab Banks and the Central Bank of Iraq, in cooperation with Etihad Iraqi banks, in the presence of more than 800 personal Arab and foreign politicians, Arab and foreign ambassadors, Economists and bankers.