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Iraq: a program for economic reform ensures the diversification of resources and support banks
10.08.2015
IRAQ-SOCIETY-CORRUPTION-DEMOBAGHDAD - wisdom - the follow-up: a dedicated team in economic activity began supported by the private sector in Iraq to develop a plan includes an integrated set of policies and legislation and supporting measures to reform the economy in accordance with modern foundations, in order to ensure investment of resources, diversifying its sources and support and development of the private sector and encourage investment in the various sectors.
And see a member of the economic team and the head of the Iraqi private banks association, Wadih Nuri al-Handal, in an interview to the "life" that the implementation of this plan requires a commitment to conduct a series of structural changes at the level of the national economy with emphasis on the adoption of policies and laws in line with the objectives of the plan, which focused on several sectors in the forefront of private banks sector, where they are activating their role and allow it to organize itself according to a new vision that takes into account the role of the Joint Committee between the Central Bank of Iraq and the Association of private banks in order to increase the effectiveness of this role in the development of activity of the private banking sector.
Handal said that the group of experts believes that the pillars of the economic program of the government is the basis for the formulation of policies and procedures which are based on the principles of the most important basis of the availability of a common national vision between the public sector and the private sector package, beyond political considerations and factional interests and personal narrow, as prolongation of the transitional period which began transformation in 2003 and missed important opportunities to postpone the reform will have negative effects with the need to strengthen the capacity of the national economy to sustainable growth and modernization of production technology and diversify income sources and create jobs and maintain the national wealth of material and human resources development.
In regard to strengthening the bonds of cooperation and perhaps integration or merger with Arab, regional and global economy, Handal said that the Expert Group believes that it takes to live up to international standards and a commitment to the general conditions for "World Trade Organization" that Iraq is seeking to join her and partnership with international companies in the list or projects New in the various activities that have the competitive advantage of its products in the domestic market or export markets, noting that international companies and foreign investments prefer partnership with the private sector and not governments.
And that these economic reforms package which was based on the study of the results of experience of the past ten years and put and activists, government officials in the private sector include policies and procedures to encourage the private sector and the policies to diversify income sources and create jobs with a focus on strengthening public revenue package, pointing to an economic transition gradually be the least damage and negative repercussions through the application of new mechanisms of social security re-balance the interest of the private sector.
He concluded Handal to the plan program includes a set of objectives was looking forward working group formed by the Office of the Iraqi Prime Minister earlier this year to achieve, touching the private banks need to make a quantum leap in its activities and ambitions are in the forefront of the establishment of the company for the exchange of credit information among banks, regardless of whether they are a central bank or banks themselves and work on the organization of foreign trade in the form that allows the cooperation between the banking and tax system in order to reduce money laundering and combating financial and administrative corruption and the "CBI" to allow the banks to contribute to companies new to contribute.
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10.08.2015
IRAQ-SOCIETY-CORRUPTION-DEMOBAGHDAD - wisdom - the follow-up: a dedicated team in economic activity began supported by the private sector in Iraq to develop a plan includes an integrated set of policies and legislation and supporting measures to reform the economy in accordance with modern foundations, in order to ensure investment of resources, diversifying its sources and support and development of the private sector and encourage investment in the various sectors.
And see a member of the economic team and the head of the Iraqi private banks association, Wadih Nuri al-Handal, in an interview to the "life" that the implementation of this plan requires a commitment to conduct a series of structural changes at the level of the national economy with emphasis on the adoption of policies and laws in line with the objectives of the plan, which focused on several sectors in the forefront of private banks sector, where they are activating their role and allow it to organize itself according to a new vision that takes into account the role of the Joint Committee between the Central Bank of Iraq and the Association of private banks in order to increase the effectiveness of this role in the development of activity of the private banking sector.
Handal said that the group of experts believes that the pillars of the economic program of the government is the basis for the formulation of policies and procedures which are based on the principles of the most important basis of the availability of a common national vision between the public sector and the private sector package, beyond political considerations and factional interests and personal narrow, as prolongation of the transitional period which began transformation in 2003 and missed important opportunities to postpone the reform will have negative effects with the need to strengthen the capacity of the national economy to sustainable growth and modernization of production technology and diversify income sources and create jobs and maintain the national wealth of material and human resources development.
In regard to strengthening the bonds of cooperation and perhaps integration or merger with Arab, regional and global economy, Handal said that the Expert Group believes that it takes to live up to international standards and a commitment to the general conditions for "World Trade Organization" that Iraq is seeking to join her and partnership with international companies in the list or projects New in the various activities that have the competitive advantage of its products in the domestic market or export markets, noting that international companies and foreign investments prefer partnership with the private sector and not governments.
And that these economic reforms package which was based on the study of the results of experience of the past ten years and put and activists, government officials in the private sector include policies and procedures to encourage the private sector and the policies to diversify income sources and create jobs with a focus on strengthening public revenue package, pointing to an economic transition gradually be the least damage and negative repercussions through the application of new mechanisms of social security re-balance the interest of the private sector.
He concluded Handal to the plan program includes a set of objectives was looking forward working group formed by the Office of the Iraqi Prime Minister earlier this year to achieve, touching the private banks need to make a quantum leap in its activities and ambitions are in the forefront of the establishment of the company for the exchange of credit information among banks, regardless of whether they are a central bank or banks themselves and work on the organization of foreign trade in the form that allows the cooperation between the banking and tax system in order to reduce money laundering and combating financial and administrative corruption and the "CBI" to allow the banks to contribute to companies new to contribute.
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