Central strategy supports the transition to a market economy
Central strategy supports the transition to a market economy
7/7/2015 0:00
BAGHDAD – Hussein Tgb
over many countries of the world in the same experience and overcome the transition phase in the economy quietly and smoothly and mechanisms certified executive and the involvement of public and private sectors and relevant experts within the central goal is to move to a stable and free economy and the adoption of mechanisms and ways and procedures are clear for all to give the Iraqi banking sector role key The leadership of the private sector in the economic wheel and lead the market management.
Economic Member Baghdad forum Samir Alnasiri stressed the importance of the strategy of the Central Bank of Iraq for the next phase include activating Proactive control and review the instructions and executive guidance and regulations on the applications of monetary policy and a precise regulatory system to follow up implementation and in particular Mai_khas conversion external Auctions currency overseen by the Central Bank of Iraq.
He said in an interview for the “morning” to the importance of completing the special procedures system of information technology and system of payments and national divided executive and projects of modern other for the development of the banking business.
He urged the development of the scope and quality of monetary and financial data with banks with an emphasis on disclosure and transparency, the development departments of Statistics and research in all banks and holds the organization and preparation of the data and deliver it to the competent departments of the Central Bank of Iraq Bmeidha specified in order to take advantage of the indicators in forecasting and analysis and take the necessary steps to reform and development of the Iraqi banking sector, the central decisions.
Alnasiri stressed the need to develop human banking resources by adopting means Modern in training, rehabilitation and development capacity and functional expertise specialized, and approval of accounting and international standards and Maasdr all related to the global economy and international banking organizations and try to take advantage of it in the development process and reform the banking
and added that the current private bank financing structure to undergo a lot of failures and constraints, and in order to increase credit and finance the total of private banks and activate their contribution to various aspects of the reconstruction investment, and push the development process, and moving the economic cycle in Iraq, we see serious as an essential step is to begin to expand the financing of small and medium-sized private enterprises, as an objective social and economic with special and urgent priority. And develop and promote the financing of small and medium enterprises.
He Alnasiri: that the central strategy can not be the drafting of the executive its mechanisms without real and effective participation of the sector of government and the private banking, through opinion and advice, study and analysis of the reality of the banking sector and its impact on economic reality.
He suggested the formation of cell crisis holds the study and analysis of the economic reality and the role of the banking sector in sustainable development, and draw the priorities of the preparation of the strategy of the Central Bank of Iraq for the next five years according to Maaherna earlier, and the development of operational mechanisms and contexts for the implementation of the strategy on the ground and determine the time their tracks and recommendations, as well as took over the follow-up, monitoring and evaluation of the strategy of the desired task.
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