Central strategic achieve financial stability
Central strategic achieve financial stability
BAGHDAD – Hussein al – Tamimi Tgb
aimed strategy of the Central Bank of Iraq for the years 2016-2020 to achieve financial stability and activating the role of financial institutions and the banking sector as it requires hard work to achieve the goals of the 23 efforts to support (according to the expert economist).
The International Union of Arab Bankers member Samir Nasiri: that make a fundamental change of approach to banking reform as stated Balstratejah according to an insight into the priorities and challenges facing the Iraqi banking sector requires that the Central Bank is examining reality of the government and private banks by reviewing, evaluating and rating these banks based on their financial statements and the results of its operations for 2015, pointing out the importance of the adoption of the assessment indicators are clear and based to force banks and international law and standards. work efficiency and added in an interview with «morning« the realization of the strategy needs to identify banks that continue to work in the banking sector or not, banks that are proposed merged with other banks in order to increase the efficiency of their work and change its departments current departments specialized and efficient and develop the work of the good and discreet banks and help them to continue to work within the Iraqi banking sector according to the safe and proper contexts for the fact that the banking sector is the foundation of the national economy. he noted the importance of the Central Bank of Iraq full control and supervision of the banking movement locally by focusing on proactive control the electronic office and field and a programmer and outline and identify irregularities and lapses and excesses of the executive management of bank and take corrective action , and sometimes a deterrent after giving them the time necessary and sufficient to correct and reform. an international team Alnasiri suggested assigning a specialized team in financial analysis and determine the efficiency performance standards for banks in all areas banking , administrative and banking and credit and would prefer that this team is international independent and impartial , taking into account the results of the US assessment of the 2013 and 2014 system. He urged the application of the Council of the Iraqi Central Bank Directors ‘ decision on controls the nomination of board members and staff leaders in the banking and focus on professional competence and functional integrity and personal reputation and commercial expertise specialist. finance projects and pointed out the necessity of activating and developing the promotion and financing of small and medium enterprises with development and economic feasibility and to achieve the goal of reducing unemployment and without the complexity of monetary measures and make the process of implementation initiative is one of the approved banks for 2016. The evaluation criteria and called for the central bank to form an advisory committee in conjunction with the Association of banks, experts and advisers economists and bankers from the private sector provides advice and expertise to the board of Directors of the Bank and their circles competent and before important decisions on monetary policy industry and its impact on the economic situation in implementation of the recommendations of the meeting held at the end of 2015. third Iraqi banking conference banks restructure Alnasiri stressed the importance of restructuring the banks government and work to be privatized in accordance with the memorandum signed with the World Bank with a focus on its contribution with some discreet banks in the private banking sector , and by no more than 25 percent, pointing to the importance that these banks are run with the mentality of the market economy and subject to the supervision of the Office of control and take deliberate steps to establish a development bank and investment involved capitalizing the state by no more than about 25 percent , and managed by the private banking sector and the state will undertake the guidance and supervision of the accounts to monitor and audit the audit Bureau Almalah.onnbh to the need to establish a deposit insurance company and credit guarantee what makes the bank contributes to the supervision and participation in the management and prevention of risks subject, indicating the importance of the central reconsider his policy for control of monetary policy, specifically its mechanisms and tools related to maintaining the Iraqi dinar exchange rate against foreign currencies.