The readiness of banking institutions determine the growth of the economy

The readiness of banking institutions determine the growth of the economy

4/27/2016 0:00

The readiness of banking institutions determine the growth of the economyBAGHDAD – 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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