Central action keeps the money of depositors and shareholders
Central action keeps the money of depositors and shareholders
8/26/2014 0:00
Two experts confirm the success of monetary policy in evaluating the performance of banks
BAGHDAD – Hussein al-Tamimi Tgb
adoption of the foundations of financial discreet in the management of the monetary sector represents the most important steps to achieve economic development, this was confirmed by (experts in economic affairs), departing from the mechanisms adopted by the Central Bank of Iraq to address the problems experienced Financial sector previously, They confirmed the existence of steps adopted by the Central cemented its program of work. break the monopoly of the economic expert Fares al-Rubaie pointed out that the central bank’s measures adopted boosted the prestige of the private banking sector, for its role in maintaining the capital of depositors and investors, pointing out that the most prominent steps adopted by the Central break the monopoly of remittances to buy the dollar, by giving greater opportunity for private banks and money transfer companies and banking companies to participate in the auction currency. streamlined sales and added in an interview for the “morning” to tighten control over the auction sale of the currency (dollar) and remittances is positive, especially that he was accompanied mechanism did not disrupt the flow of the sale and availability of hard currency in the local markets, indicating the importance of initiating Central to make the members of the boards of directors of private banks are law-abiding, especially those who were Ikhrkonh ignorance, indicating that this procedure is the calendar for the work of the private banking sector. legal ways and pointed out that the central depends ways various legal to keep the money of depositors and shareholders, indicating the presence of Angels experience high working on the follow-up mechanisms to keep the money in spite of the many variables facing their work, and so we can say that the spirit of the law applied in these procedures. pointed out that although inter measures adopted by the central work But he did not live up to the level of ambition, stressing the importance of that going efforts of the Central Botaúr mounting, through human capacity building fortified and the development of units and structures in line with the modern and the evolution of the crimes banking and corporate law (banking companies to contribute). called vernal reconsider legislation Legal regulating the banking business private, especially as the capital of private banks exceeded the barrier of 300 billion dinars, as well as expanding numbers of local banks and the entry of branches of regional and international banks. achieve the goals either banking expert Samir protagonist has confirmed that the followers of the stages through which applications of monetary policy in Iraq after the issuance of Iraqi Central Bank Law 56 of 2004 and the Banking Act 94 of 2004 it became clear that the CBI has succeeded in achieving the goals central to monetary policy in the stability of the monetary system and cope with waves of inflationary after the significant improvement in the exchange rate of the Iraqi dinar. interest rate and said that the building of reserves in foreign currency led to build the foundations of a solid in maintaining the building economic stability and external open a wide range of investment as the positive role played by the interest rate in reducing hyperinflation annual basis in 2006 to about 5.6 percent in 2012, as well as to identify the phenomenon of dollarization and Almdharbh.ofatt to The Iraqi Central Bank has succeeded in maintaining its independence and through Astqraúna and our analysis of the reality of the monetary policy and the experience of previous years, we hope the Board of Directors of the CBI study the proposals for the development and modification of some episodes of monetary policy currently applied and thus contributing to the restructuring and reform of the private banking sector and enhance the role of banks to move from the role of financial intermediation to the developmental role which is a modified strategy for monetary policy currently approved and proposed policies and processors are required for banking reform for the next phase outlining a new strategy for the banking sector for the next five years.
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