Association of private banks to mobilize domestic and international effort to promote the financial sector

Association of private banks to mobilize domestic and international effort to promote the financial sector In order to achieve development bank

9.22.13

BAGHDAD – Hussein ثغب Tamimi seeks Association of private banks in Iraq pursuit of financial sector development through mobilizing specialists in the matter banking domestic and foreign through the Conference of the Iraqi banking first that works to discuss paths advancement of the banking and mechanisms to contain all the determinants that negatively affect his career access to international banking services and reversible in our banks. conference the first

Executive Director of the Association of private banks in Iraq, Abdul Aziz Hassoun revealed that the conference will be held for this purpose is the first of its kind, sponsored by the Prime Minister to discuss the determinants of development banking and mechanisms to overcome them, pointing out that the Iraqi economy is on the verge of phase of real growth in all his joints, and can not achieve positive results without banking services advanced keep up with what the world is witnessing progress in this area.

Reality of banking activity and added in an interview (morning) that the conference, which carries the slogan Iraqi banking sector reality and challenges will discuss working papers, counted Experts Shan banking and finance is very important, where it came from threads of different start from the reality of the banking activity in Iraq and then transmitted to the axis important is the environment legislative available in the country and governing the work bank and the requirements of a new rise banking services.

banks and development and draw goldfinches that other hubs that are being discussed also represented banks and their role in development, environment and investment banks and the banking sector and international relations, pointing to move towards the subject of international institutions and their role in the development of the banking sector, and the mechanisms of action of modern banking activity as well as to discuss the possibility and practice within the framework of the concepts of Basel, also includes stations debate strategy of the banking sector, and the features of the strategy, will also be discussing a very important topic and holds the title of private banks in Iraq and the implementation of the program of financing small projects, pointing out that the last stations debate will carry the title role of foreign banks in the strategic target.

attract capital and said Hassoun that Congress will work to make recommendations that will impact positively on the reality of business banking in the country, where he will stand all specialists banking work in both the public and private sectors to overcome the determinants of development banking, providing legislative environment appropriate for the advancement of banking services in terms of attracting capital and the necessary guarantees that encourage cooperation with international banks to open branches in the country, pointing out that the conference was called to him most of the ministers and members of the House of Representatives and the Governor of the Central Bank and Chairman of the Economic Committee in the Council of Ministers and professional associations, as well as businessmen who represent the private sector that has a responsibility to manage economic profile in the country after orientation towards an open market economy, which acknowledged constitutionally, as pointed Goldfinch to invite representatives of the World Bank and the International Finance Corporation, as well as the Union of Arab Banks and the Association of Arab Banks, stressing that this crowd has a lot of proposals that support the growth process banking desired in the country during the coming period.

International effort specialist on Islamic banking and member of the governing body of the Association, Dr. Sadik Rashid Al Shammari said: that the domestic banking sector, both public and private sectors in dire need of effort banking International, pointing out that the period of interruption from communicating with field money Universal created a gap between Iraq and the countries of the developed world.

added Shammari said in an interview (morning) that the organization of the Conference of the Iraqi banking first, which represents Forum internationally to attend a number of Arab Bankers and foreigners who have the ability to communicate with the Iraqi banking sector and provide technological support, after the stand at the most important requirements for the Advancement of banking communities.

enactment of the said that Islamic banking will play an important role in the conference after the great successes achieved at the level of the world, and became represent a safer, will be the theme of Islamic banks in Iraq reality and challenges.

He pointed out that the conference will prompt enactment of a law of Islamic banks, which now managed through the instructions issued by the central bank, noting that the law regulating the work of Islamic banking which has achieved great successes in the overall services provided by the specialized banks, but we need new products can be offered by Islamic banks .

between the conference sheds light on the economic and social development through the development of the banking business, which can be reached through the necessary legislation and the adoption of advanced technology which proved its efficiency in the world.

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