Specialists promised the launch of a new banking strategy
Specialists promised the launch of a new banking strategy
09/26/2013 12:00 AM
Assurances of the importance of partnership banking between the public and private sectors
BAGHDAD – Hussein ثغب Tamimi
heading efforts of the banking sector towards the diagnosis of the most important challenges that confuse the reality of development banking in the country, as experts say money importance of banking cooperation between the public and private sectors to reach the ideal working environment supportive of all economic sectors.
President of the Association of private banks in Iraq, Adnan al-Chalabi pointed out in an interview for the (morning) to launch a strategic new banking During the conference, the Iraqi banking first, noting that the strategy is executed during the days of the conference to be discussed thoroughly by experts banks from the public and private sectors to exit agreement or semi- agreement around. prospects developmental said during a press conference organized by the Association in preparation for the conference to be held end of this month that the strategy governing the banking business now and in the future, and develop prospects developmental progress for the advancement of banking services gradually, pointing out that the conference is an opportunity to put forward opinions and suggestions pour in the development of the banking sector, in particular that the conference includes a display (12) in search of research, six within 28-29 days of the current month, in addition to the extensive discussions about the problems that limit the banking development process. sophisticated banks and Chalabi pointed out that all efforts are focused out the recommendations of value to contribute actively to the development of the banking sector, which is the most important element in the process of promoting economic destruction, can not be development of the economy away from the banking sector processions Technologies International Banking, and able to provide advanced services to the public beneficiaries. confidence of international banks either General Manager Bank of Mesopotamia Abdul-Hussein Islamic Mundhiri has pointed to the importance of the first Iraqi banking conference, pointing out that Iraq would emerge from the provisions of Chapter VII to make the Iraqi banking market and a new destination of the most prominent international banks known بثقتها in the global economy, such as neighborhood. Me موركن and Standard Chartered, Bank of America and Citibank, among others. He said the duty of our banks private and public partnerships and the signing of memoranda of understanding with these banks to get the experience accumulated in how to deal with financial crises and the internal and external economic and how to run their capital and deposits of the public in corporate finance and small and medium enterprises and large and others. As these companies will give workers in our banks the opportunity to gain experience and confidence in the input patterns of new investment on the banking market in Iraq. trust beneficiaries He continued: After the success of private banks to increase their capital overflowed has a mass of cash huge volume of liquidity exceeded five trillion dinars are currently looking for investment opportunities for funding. As well as trillions granted loans, real estate and commercial and industrial productivity, and others. This increase in capital restored confidence again banks own after the tremors experienced by its reputation as a result of ill some banks to conduct banking business right, as exposed to sanctions and deterrent measures from the central bank, as returned funds public deposited again in private banks. prospects for cooperation to that The executive director of the Association of private banks in Iraq, Abdul Aziz Hassoun: The strategic banking that will be working to develop the reality of the work of banks in general, in addition to consolidating the prospects of cooperation between the banking market and finance. said Hassoun that these efforts are being made to discuss the challenges that adversely affect the development banks, particularly the private banks in the country has come a long way in the adoption of modern techniques can not the government of banks accessible, especially because it lives in the restructuring phase. Stressing that the evolution of the private banks did not quite live up to the level of ambition although it girl good relations with international banks with a rating of Advanced on the list of the world rankings. amend the law on banks and between that of the most prominent papers will be presented during the days of the conference that on the subject of amending the Law of banks, and allow private banks to adopt the investments that will positively affect the reality of the Iraqi economy in terms of production and services. future of banks and returned Goldfinch to confirm that international participation will be the quality, quantity and its presence will be signed by the positive, as can convey a clear picture for the future of the Iraqi banking sector to the world, pointing out to allocate space for the World Bank Conference which will what Bjabth across a promising scientific research to be put in this conference, where everyone is aware of its importance in the economic development process. Pointing out that the presence of Arab Banks will be active through the Union of Arab Banks and the Association of Banks, in addition to the experience of banking is different. concluded Goldfinch his speech by saying: that the experience of private banks in the country’s modern and has faced significant challenges, noting that its inception effectively was after the year 2003, but you need to efforts great for access to the global banking sector in the services provided to the public beneficiaries.