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Five-year plan is consistent with the strategy of the private sector
6/4/2015 0:00
Alnasiri calls for an active role of banks in the development of which
BAGHDAD - Hussein al-Tamimi Tgb
constitutes the Iraqi banking sector Episode key to manage the economic process and including the Central Bank of Iraq is responsible for the supervision and control of the banking sector is the monetary and financial adviser to the Government and is responsible primarily the basis for financial support efficient and transparent sector contribute to sustainable development and the welfare of the community, it also went on to contribute to building a strategy for the next five years in line with the government program and Article 25 of the Constitution and strategic private sector development for the years (2014-2030).
banking expert Samir Nasiri said that the role and contribution of the banking sector in GDP is limited not Atadian 8 percent which is very low compared with neighboring countries, pointing to a decline in the overall credit rate, which reached 15 percent of GDP, compared with 55 percent for all the Middle East and North African countries.
plan for five years and pointed out in an interview for " morning "that the need is necessary for the central bank to re-examine and analyze the current situation of the Iraqi economy and the role of government and private banks in the economic development and investment and challenges over the past years and reach a building plan for the next five years in line with the government program and Article 25 of the Constitution and the strategic development of the sector Special for the years (2014-2030). He pointed out that this requires to be at the Central Bank of Iraq is clear and analytical worries and problems and obstacles faced by the Iraqi banking sector and in particular the private banking sector image. Alnasiri suggested that the strategy of the Central Bank of Iraq for the next phase include programs and plans to move the banking work from the role of banking to the developmental role, and re-drafting and amending legislative environment laws governing the banking business and in particular to address the challenges faced by the banks on the subject of making investment with a focus on the central bank laws (56 of 2004, banks 94 for the year 2004 and the issuance of Islamic banking law and the issuance of the Deposit Insurance Act and the financing of small and medium enterprises). government program and explained the importance of laying the groundwork and mechanisms and regulations to combat money laundering and support of investment funds and financing large projects, as well as to activate what came paragraphs government program, particularly in regards to the activation of lending between the central bank and inter-bank market as well as between banks, and activating the role of the reserve compulsory basic tool for liquidity management. New model -Nasiri said that the coordination between fiscal and monetary policies in accordance with the specific contexts and mechanisms is important, and that is the central desired ones goal is to build a new model of the national economy, and to contribute with the government as a financial advisor and cash in transition from a rentier economy to a multi-resource economy and the re-distribution of national income, according to the directives of the market economy, and to be the adoption of a new monetary policy and financial lead to comprehensive reform and restructuring of the banking and financial sector of Iraq with an emphasis on restructuring the government banking sector, according to the false note, signed with the World Bank and support for the private banking sector and strengthening of the existing potentials for that without a sound banking sector can not build a sound national economy. concessional loans and continued, saying: You must activate the role of government banks, specialized banks and private banks to provide soft loans national private as well as finding solutions to the problems of tax accrued benefits resulting from the solutions to the sector the owners of the stalled production projects and the development of short and medium-term fiscal policy. bank financing and explained Alnasiri The current private bank financing structure mired with many failures and obstacles, and in order to increase the credit product and funding from private banks and activate their contribution to various aspects of the reconstruction investment, and push the development process, and move the session economic conditions in Iraq, we see serious as an essential step to begin to maximize the financing of small and medium-sized private enterprises, as an objective social and economic a special urgency, develop and encourage the financing of small and medium enterprises priority. small businesses and said that the activation of the role of government in building a strategy for the development of small and medium enterprises is the most important elements of success where the government that has the financial possibilities in yield economy in which the private sector weakens to a large degree and can not promote this sector without having a plan for the development of this sector and build a clear and declared mechanisms in which the private sector to actively participate so that they can be transformed from a small follow the government sector to partner Chairman and then to the commander in investment and construction operations.
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6/4/2015 0:00
Alnasiri calls for an active role of banks in the development of which
BAGHDAD - Hussein al-Tamimi Tgb
constitutes the Iraqi banking sector Episode key to manage the economic process and including the Central Bank of Iraq is responsible for the supervision and control of the banking sector is the monetary and financial adviser to the Government and is responsible primarily the basis for financial support efficient and transparent sector contribute to sustainable development and the welfare of the community, it also went on to contribute to building a strategy for the next five years in line with the government program and Article 25 of the Constitution and strategic private sector development for the years (2014-2030).
banking expert Samir Nasiri said that the role and contribution of the banking sector in GDP is limited not Atadian 8 percent which is very low compared with neighboring countries, pointing to a decline in the overall credit rate, which reached 15 percent of GDP, compared with 55 percent for all the Middle East and North African countries.
plan for five years and pointed out in an interview for " morning "that the need is necessary for the central bank to re-examine and analyze the current situation of the Iraqi economy and the role of government and private banks in the economic development and investment and challenges over the past years and reach a building plan for the next five years in line with the government program and Article 25 of the Constitution and the strategic development of the sector Special for the years (2014-2030). He pointed out that this requires to be at the Central Bank of Iraq is clear and analytical worries and problems and obstacles faced by the Iraqi banking sector and in particular the private banking sector image. Alnasiri suggested that the strategy of the Central Bank of Iraq for the next phase include programs and plans to move the banking work from the role of banking to the developmental role, and re-drafting and amending legislative environment laws governing the banking business and in particular to address the challenges faced by the banks on the subject of making investment with a focus on the central bank laws (56 of 2004, banks 94 for the year 2004 and the issuance of Islamic banking law and the issuance of the Deposit Insurance Act and the financing of small and medium enterprises). government program and explained the importance of laying the groundwork and mechanisms and regulations to combat money laundering and support of investment funds and financing large projects, as well as to activate what came paragraphs government program, particularly in regards to the activation of lending between the central bank and inter-bank market as well as between banks, and activating the role of the reserve compulsory basic tool for liquidity management. New model -Nasiri said that the coordination between fiscal and monetary policies in accordance with the specific contexts and mechanisms is important, and that is the central desired ones goal is to build a new model of the national economy, and to contribute with the government as a financial advisor and cash in transition from a rentier economy to a multi-resource economy and the re-distribution of national income, according to the directives of the market economy, and to be the adoption of a new monetary policy and financial lead to comprehensive reform and restructuring of the banking and financial sector of Iraq with an emphasis on restructuring the government banking sector, according to the false note, signed with the World Bank and support for the private banking sector and strengthening of the existing potentials for that without a sound banking sector can not build a sound national economy. concessional loans and continued, saying: You must activate the role of government banks, specialized banks and private banks to provide soft loans national private as well as finding solutions to the problems of tax accrued benefits resulting from the solutions to the sector the owners of the stalled production projects and the development of short and medium-term fiscal policy. bank financing and explained Alnasiri The current private bank financing structure mired with many failures and obstacles, and in order to increase the credit product and funding from private banks and activate their contribution to various aspects of the reconstruction investment, and push the development process, and move the session economic conditions in Iraq, we see serious as an essential step to begin to maximize the financing of small and medium-sized private enterprises, as an objective social and economic a special urgency, develop and encourage the financing of small and medium enterprises priority. small businesses and said that the activation of the role of government in building a strategy for the development of small and medium enterprises is the most important elements of success where the government that has the financial possibilities in yield economy in which the private sector weakens to a large degree and can not promote this sector without having a plan for the development of this sector and build a clear and declared mechanisms in which the private sector to actively participate so that they can be transformed from a small follow the government sector to partner Chairman and then to the commander in investment and construction operations.
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