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7/22/2015 0:00
Shammari: a revisit its requirements and administrative structures
BAGHDAD - Hussein al-Tamimi Tgb
The need to develop the banking sector required by the process of sustainable development sought by Iraq, and the evolution of financial markets, the focus is starting to activate the productive and service sectors that suffer chronic disorder, according to an expert in financial affairs.
World Union of Arab Bankers member D.sadeg Shammari says that banks represent the container is important to mobilize deposits and savings of citizens and various institutions, pointing out that they represent an important source of most of the productive and service sectors that depend on its activity in the capital markets.
He said in an interview for the "morning" that the banks and the houses of the money required to adopt the principles and mechanisms of governance and this will necessarily lead to a reduction of the risks they are exposed, indicating that the promotion of the principles of good governance and mechanisms requires the adoption of two channels: first, the central bank responsible for the organization and supervision of the banking system, and second, banks themselves, because the absence of governance and mechanisms will result into chaos and corruption can not control them, demanding Alsultatin supervisory and regulatory aim to establish a central bank are to have a vital role calendar required departments of banks to take the necessary measures in the event of a physical failure has been the identification of the pressure test program as part of the the culture of governance and risk management.
Shammari stressed the need to reconsider the structures hierarchical councils departments and their responsibilities and powers granted to them and to ensure the efficiency of the members of the Board of Directors to enable the tasks entrusted to them for the management of the bank and they have a clear understanding of their role in the mechanics of governance principles and are subject to the effects of other, indicating that the banks linked to the process of sustainable development through responsibilities placed on it by supplying the best technology in the world of banking and adopted locally, especially as the international effort sophisticated looking for is capable of dealing with large blocks of cash banking sector.
He pointed to the importance of the adoption of mechanisms for positive collaboration between boards of directors and auditors for the purpose of reducing the gap between the board and management of the Executive and the adoption of the experiences of outside directors, indicating that they are necessary to bring ideas and new visions and perceptions of career centers they occupied for activating the role of boards of directors and increase operational efficiency, and on this basis It became necessary put the number of independent directors on the board.
Shammari stressed the importance of focusing more on the mechanics of internal governance as defensive strategies aim face the dangers of the external mechanisms and ward off competitors threats, and the commitment of boards of directors legally by the central bank to recognize the rights of all stakeholders in the banks and financial institutions and to reconcile them and the particular group in addition to the interests of the majority and minority on the one hand and the interests of employees, investors and financiers on the other hand, especially that it is a side to the Board of Directors - Board Eshravi- as is the case in Germany, where it is one of the basic functions of banks and change the vision of the evolution of long-term strategies.
And activating the process of economic development pointed to the importance of benefiting from international experiences in the field of Islamic microfinance banks that have achieved great success and work to be transferred to the country. Noting that the lending portfolio of Islamic banks to stimulate talented students in universities and owners of small factories food and crafts of up to 25 billion dinars under its responsibility in achieving. He praised the initiative to launch the Central trillion dinars for this purpose
The projects funded by the Islamic banks linked studies sober economic feasibility to be able to achieve sustainable development, especially that of more than 600 bank worldwide branches scattered in most of the cities with assets of more than $ 3 trillion achieved an annual growth rate exceeding 30 percent of the market share of the banking business, adding that the Islamic finance operations have become the focus of attention of many of the peoples of the world.
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7/22/2015 0:00
Shammari: a revisit its requirements and administrative structures
BAGHDAD - Hussein al-Tamimi Tgb
The need to develop the banking sector required by the process of sustainable development sought by Iraq, and the evolution of financial markets, the focus is starting to activate the productive and service sectors that suffer chronic disorder, according to an expert in financial affairs.
World Union of Arab Bankers member D.sadeg Shammari says that banks represent the container is important to mobilize deposits and savings of citizens and various institutions, pointing out that they represent an important source of most of the productive and service sectors that depend on its activity in the capital markets.
He said in an interview for the "morning" that the banks and the houses of the money required to adopt the principles and mechanisms of governance and this will necessarily lead to a reduction of the risks they are exposed, indicating that the promotion of the principles of good governance and mechanisms requires the adoption of two channels: first, the central bank responsible for the organization and supervision of the banking system, and second, banks themselves, because the absence of governance and mechanisms will result into chaos and corruption can not control them, demanding Alsultatin supervisory and regulatory aim to establish a central bank are to have a vital role calendar required departments of banks to take the necessary measures in the event of a physical failure has been the identification of the pressure test program as part of the the culture of governance and risk management.
Shammari stressed the need to reconsider the structures hierarchical councils departments and their responsibilities and powers granted to them and to ensure the efficiency of the members of the Board of Directors to enable the tasks entrusted to them for the management of the bank and they have a clear understanding of their role in the mechanics of governance principles and are subject to the effects of other, indicating that the banks linked to the process of sustainable development through responsibilities placed on it by supplying the best technology in the world of banking and adopted locally, especially as the international effort sophisticated looking for is capable of dealing with large blocks of cash banking sector.
He pointed to the importance of the adoption of mechanisms for positive collaboration between boards of directors and auditors for the purpose of reducing the gap between the board and management of the Executive and the adoption of the experiences of outside directors, indicating that they are necessary to bring ideas and new visions and perceptions of career centers they occupied for activating the role of boards of directors and increase operational efficiency, and on this basis It became necessary put the number of independent directors on the board.
Shammari stressed the importance of focusing more on the mechanics of internal governance as defensive strategies aim face the dangers of the external mechanisms and ward off competitors threats, and the commitment of boards of directors legally by the central bank to recognize the rights of all stakeholders in the banks and financial institutions and to reconcile them and the particular group in addition to the interests of the majority and minority on the one hand and the interests of employees, investors and financiers on the other hand, especially that it is a side to the Board of Directors - Board Eshravi- as is the case in Germany, where it is one of the basic functions of banks and change the vision of the evolution of long-term strategies.
And activating the process of economic development pointed to the importance of benefiting from international experiences in the field of Islamic microfinance banks that have achieved great success and work to be transferred to the country. Noting that the lending portfolio of Islamic banks to stimulate talented students in universities and owners of small factories food and crafts of up to 25 billion dinars under its responsibility in achieving. He praised the initiative to launch the Central trillion dinars for this purpose
The projects funded by the Islamic banks linked studies sober economic feasibility to be able to achieve sustainable development, especially that of more than 600 bank worldwide branches scattered in most of the cities with assets of more than $ 3 trillion achieved an annual growth rate exceeding 30 percent of the market share of the banking business, adding that the Islamic finance operations have become the focus of attention of many of the peoples of the world.
[You must be registered and logged in to see this link.]
