Central tends to adopt a strategy to continue 5 years

Central tends to adopt a strategy to continue 5 years

3/9/2015 0:00

Central tends to adopt a strategy to continue 5 yearsBAGHDAD – Hussein al-Tamimi Tgb
examine the Central Bank and the Institute for the progress of policy development and a number of economists central role in supporting economic reform and the future requirements of the current stage, while the Governor of the Central Bank stressed the need for plans and programs represent a financial reform requirements in the country.
President of the Institute d. Mehdi al-Hafez said at the beginning of the seminar, which was organized for this purpose: the audience of economists and central bank governor and director of the Office of the Prime Minister Tnaulo important issues including the role of private banks in the development of the economy and activating the role of financial Court, which is the main reference for solving problems with private banks.
Governor of the Central Bank Ali Alak said (morning): The reform of the financial sector process need to plans and programs is measured by achievement of goals, also needs to be rational and administration implemented We must have the ability to do so.
He added that the tasks of the central bank’s future and wide and we are working to develop a strategy central to the work continues for (5) years to come aims to achieve big goals transferred to levels commensurate with the ambition.
organization of work

and pointed out that the strategy detailed address all the challenges within the time frames, including the amendments of certain laws and regulation of banking and Islamic banking, as well as deposit insurance and the law of instruments of Islamic law.
Keywords He noted that the central working on establishing institutions to guarantee deposits and small and medium enterprises, pointing out that the central ambition is moving to secure investment for major projects, is also working on the development of the debt market and tools, because there are no bonds of public debt, and this is an important tool in guiding the religion.
He said he suggested to be A unified account of all state institutions in order to accrue interest over the central bank, stressing the need to expand the adoption of electronic payment for its importance in controlling liquidity movement.
Among the importance of breaking the monopoly of government banks in dealings with state institutions and Aidaatha, indicating that the central works in cooperation with the economic and governmental Committee to reduce this monopoly and give private banks a chance in the big trade with the state institutions management.
Keywords continued by saying that the central adopted a project of banks to assess and classify This is necessary to deal with these banks and paints a clear picture of the beneficiaries in the interaction with any of the banks.
Association of private banks in Iraq expressed gratitude to the Central Bank of Iraq in the new orientations aimed to support the banking sector and corporate banks that suffer an imbalance in the work program.
guardianship raise

A statement of the association for its chairman and Wadih Handal as saying that the central bank is working hard towards lifting guardianship for bank Warka and the economy and that the measures taken for this purpose in final stages, pointing out that this is evidence of the extent of cooperation between the central and private banks, which is conducive to private banks to support and make it an important hub in the sustainable economic development process and reduce the burden on the Iraqi economy.
It pointed out that the calendar control by the central bank for private banks is a positive step in the process of these banks.
supportive environment

concerned the honored banking Ali Tariq said that the cooperation between the central bank and banking civil health check of great economic feasibility of the country, where the private banking sector needs to activate its role in the economic life and this requires communication with the Central Bank of Iraq to create a supportive environment for the role real banks in the process of economic development.