Tuesday, 09/15/2015 - 14:38
Forum Iraq opened its banking today in Beirut in the presence of a large number of Lebanese and Iraqi bankers and business leaders, heads of companies, international organizations and banking experts and journalists, attended by about 400 participants from Arab and foreign countries. Speaking at the opening of both the Governor of the Bank of Lebanon Riad Salameh, the governor of the Central Bank of Iraq d. On the Keywords and President of the Lebanese Banks Association d. Joseph Tarabay and head of the Iraqi private banks association meek Handal and CEO of group economics and business Raouf Abu Zaki. Safety and announced in a speech during the forum that the process of issuing circulating to organize the participation of the private sector debt to the Banking Control Commission to deal with the challenges of the stage, stressing the introduction of new incentives to the basket for the year 2016 billion-dollar may rise to $ 1.5 billion. He also pointed to the launch of an electronic platform for trading stocks and contracts approaching. The d. Keywords stated in his address to the proposal for the privatization of the Rafidain and Rasheed, who possessing 80 percent of the total Iraqi banking sector.
Organizes the Forum Group Economics and Business and the Central Bank of Iraq in cooperation with the Central Bank of Lebanon and the Association of Iraqi private banks and the Association of Banks in Lebanon. And continue the work of the forum over two days in Venice Intercontinental Hotel, followed by specialized workshops.
Integrity of
Lebanon's Central Bank Governor Riad Salameh at the beginning of his speech focused on the decline in growth on a global level and its impact on funding outside of Europe and the United States. He stressed the importance of a regional grouping of banks relations
And the need to use local currencies. He said that the Central Bank of Lebanon seen the importance to deal with Iraq, especially the Iraqi Central Bank to coordinate risk and to achieve transparency and the fight against money laundering and exchange of experiences and activating the payment in local currencies between the two systems.
"Salama added that the Lebanese pound stable and are traded less than the intervention of the Bank of Lebanon, the prices affordable, and focused on the record for the reserves of the Central Bank. He said it would be the Banque du Liban initiatives to encourage confidence in the existence of stable benefits in spite of the expected release of Standard & Poor's rating for Lebanon from stable to negative. He said that deposits increased by 7 percent on average per year, with net worth rose by 12 percent, and expected that between 2015 and 2018 net worth rate will be 15 percent, he said, adding: "This is necessary to maintain the trust and the natural dealing with global banking".
He said: " 2015 will not be like the one we are witnessing growth achieved in 2014, and growth will be close to zero. That is why we introduced a package of incentives will include a credit of $ billion and up to $ 1.5 billion in 2016 and will be an interest rate at one percent limits. They include banks lending to sectors of housing, small and medium-sized enterprises and projects of alternative energy, environment, education and other university. He said that the number of debtors increased between 1993 and 2015, from 70 thousand to 700 thousand, and this Altmsrv useful for the banking sector and economic growth. " He said that the housing sector has a particular importance as a locomotive for growth, has resulted in packages of credit so far more than 100 thousand poverty housing finance.
In addition Salameh said that the Central Bank will issue a circular to regulate the debt with the private sector in a responsible manner and with the participation of the Banking Control Commission in order to overcome challenges stage. We look forward positively to Circular 331 issued by the Bank Bnaln to support knowledge-based economy. The Financial Markets Authority will launch an electronic trading platform. We will give one license to the private sector to manage the platform. And will be in this platform Tdaozl stocks, bonds and commodities, including gold, will be the currency speculation and sell successful emerging institutions. Being electronic platform will be in touch with world markets, and our goal access to Lebanese expatriates and others. " He concluded that Lebanon is going through tough times, but the Lebanese have not given up and Tmn saying: "will not give up."
Dr.. Keywords
The Iraqi Central Bank Governor d. Keywords Ali said: "Due to the depth of the relationship between Iraq and Lebanon held the second forum of the Iraqi banking - in the Lebanese capital, Beirut, and comes on the priority of this relationship is to increase and deepen the cooperation between the banking and financial sector in both countries head. Among the objectives of this forum to discuss the economic landscape and banking, and means to address the challenges, and provide future opportunities, as well as a survey of both the Central Bank and the Central Bank of Iraq and monetary policy of their respective strategy, aimed at achieving economic, financial and banking development through activating and developing the contribution of the banking and financial sector and branches of foreign banks to the development of the economy of the two countries. "
He added: "Iraq and Lebanon completely Mhaian and Kraidan in the Arab region for the transfer and development of industry Almsrvih.kma aware of countries that bear a responsibility to identify strengths and weaknesses in the process of the financial and banking sector, especially Lebanese banks that have opened branches in Iraq and are on the increase. As I was talking with His Excellency the Governor of the Bank of Lebanon that the central banks are no longer the last resort it has become the first and last refuge. We must invest this position to take the economic role of banks for economic development. We recognize that the private sector is the real starting point for achieving continuous and sustainable development, and this fact needs to absorb a great effort and resistance to change especially when some countries used to centralized totalitarian regimes as in Iraq. And thus it becomes change this environment and culture on the various procedures to evolve in order to achieve able to attract the private sector work environment, and this is what we believe in and we will invest every opportunity in the Iraqi Central Bank to emphasize this fact in order to open the door and field and framework for the work of the private sector. We want to create an atmosphere of confidence in the banks, and this was expressed by His Excellency the Governor of the Bank of Lebanon Riad Salameh and without strengthen that trust can not be the promotion of the private sector. Therefore we tried to start from this important point and we worked Baattabrna in the Economic Committee of the Cabinet member to promote cooperation with the private sector to improve relations between the institutions and private banks. And broken constraints: State restrictions on private banks and we take this process to its fullest extent. We have other actions that involve certainly to give the role of the private sector. We believe that the financial crisis will help Iraq achieve real growth in the future and this is available in Iraq through the human and other resources. "
He said: "Perhaps the most important step is the proposal to the Cabinet to convert the most important bankers in Iraq: Rasheed Bank and Rafidain Bank to private banks as companies contribution. The Iraq and by virtue of the size of these two banks intended to attract contributions from foreign banks, and this is very important. Perhaps the crucial element is important to restructure the banking sector helps to create a competitive role for the sector. We are working on the privatization properly and encouragement by the Minister of Finance and the Office of Financial Supervision and the support of the World Bank. We are in the stage of solving the problems existing there to be a chance to do a big step, but the largest in Iraq and in the region step. "
He added: "The CBI did all the technical requirements integration and interconnection of national PBX with several parties (Bank of TBI, Assyria Bank, Amwal, the Middle East) bank is ready for the actual start of pending termination of the supplementary Alemrahalh for the tests to be local e-payment cards through it and are settled through the RTGS system. The Bank is in the final stages of licensing two companies to pay by mobile phone and these two companies on standby to provide services in the whole of Iraq to get a license, as the bank with banks and specialized companies working to launch a collection of government operations electronically. On the other hand, and in order to keep abreast of developments in the field of banking communications, the Bank completed the plans in collaboration with the Ministry of Communications to create a network linking the main branches of banks with the central bank and its branches and is working techniques Alkybl photosynthesis to be a substitute for the current wireless network, which opens up new horizons in the field of data transfer confidentiality reliability and high availability is very high
said the head of the Iraqi private banks association meek Handal: "I am honored to speak in a number of topics that I hope that covered the forum Bnqachath and talks mused of this combination to reach the end of the forum on the recommendations that will serve the interests of the Iraqi economy and improvement of the banking sector's performance" . He added: "We are going through in Iraq, but the difficult part of the conditions of which is due to economic hardship as a result of falling oil prices is born a deficit in the budget burdened the government and placed them in a circumstance in which any of the previous governments have not placed. Iraq passes as political and security conditions is not the lightest on the people and the government of economic hardship. The conditions that I mentioned and put everyone, including the Iraqi banking sector in the atmosphere and difficult challenges, prompting Iraqi private banks association to improve its performance to perform and what it can contribute to it in light of this crisis. Association has undertaken since the beginning of this year and help support the Iraqi Central Bank to maintain a stable exchange rate. Association also played a prominent role through its participation in the national team of experts headed by her finance team who presented a package of policies adopted by the Government for the development of the financial sector and financial sector performance.
D. Tarabay
President of the Lebanese Banks Association d then occur. Joseph Tarabay, he said: "I am pleased the beginning, I repeat that welcome our guests Distinguished from brotherly Iraq. You Thlon in our country Welcome to the friends, colleagues not only a career, cherish Bmnaaqbithm and professionalism. We who Aktweina fire long wars and woes, suffer more severe pain and affects the degree of your country from terrorism, and caused by the killing and destruction and the displacement and destruction. At a time when you are in dire need to complete the construction of the state and its institutions and continue the reconstruction and the advancement and make up for what you missed by the wars as well. The entire region in the heart of a dark tunnel. The cost owed painful at all levels, including national economies. Losses pile up and surpass the capabilities of the census and the combination. No real growth and no development potential, but also exacerbate rising sharply existing economic and social crises already.
"He said:" Perhaps a harbinger of good and enlarge the size of the ambitions and hopes, qualitative steps that provide them successively concerned authorities in Iraq brother to hand banking structure to develop a legal and Amlanaa, especially the ones with regard to banking system and the law of electronic signature and the redefinition of capital required for banking units expatriate. This as well as the orientation of the tightening measures in the fight against money laundering and the financing of terrorism, and the establishment of the Deposit Insurance Corporation, and develop appropriate controls for letters of guarantee, and the establishment of units and the central query of risk, and instructions for the Islamic Bachirvh, and the law of the Islamic instruments. I'd, identify some of the critical areas that can achieve a common and rewarding benefit and save time and money on the brotherly Iraqi banks, including:
• Lebanese banks have a remarkable experience in the brokerage and management of versions operations in international markets.
• Lebanese banks have developed an integrated and vital systems in the context of the overall banking. And diversification of bundles of services and products in the areas of retail banking Retail, custom corporate banking Corporate, Investment Banking and Investment.
• holds Lebanese banks with advanced international standards and positions within the scope of electronic banking. And the issuance and management of bank cards of all types. The deployment and operation of the latest ATM.
• fought for Lebanon's early investment banking experience, and has become our tradition in determining Alaloyat and caveats.
• banks continue to adopt best practices in the framework of governance, segregation of duties and responsibilities.
• Lebanese banks are spread in 33 countries around the world. True that invested by Iraqi banks as outlets to satisfy their customers in these markets requests.
• the Lebanese banks important experience in the establishment and management of financial investment funds, are employed Akttabadtha in vital sectors of the economy.
• enjoying banking systems and equipment of the latest in the world of banking technology. It has a human cadres with high competencies and expertise and global.
• Lebanon has extended vital experience in the field of combating illicit funds. In addition to the law and the applicable provisions of the Central Bank, banks and internal oversight units and human resources, which holds these responsibilities according to the highest international standards developed.
• The banking system financing public and private sectors efficiently and professionally recognized by international financial institutions.
• The Lebanese banking sector runs the local assets of more than 180 billion Currently the dollar, which is comparable to about 3.5 times the gross domestic product. He maintains his brilliance and good growth investor acquired from the superior flexibility in the management of emergency to deal with the events, and accumulated from the experiences proven to absorb the consequences of repeated instances of disruption of internal stability and external influences.
Abu Zaki
was Group Chief Executive of Economics and Business Raouf Abu Zaki launched the opening word of the session, he said it: "Mmeltqana today is based on the success of the first conference, which was held last year under the title" the Iraqi banking forum - Lebanese "and integrates with him in his themes and in the number and level of participation which represented about 150 President and General Manager of Iraqi banks in addition to about 250 bank Lebanese, Arab and representatives of global technology companies. And the convening of this meeting in Beirut is the embodiment of the Lebanese banking expansion in Iraq, but the level of cooperation between the Central Bank of Iraq and his Lebanese counterpart on a number of fields, particularly in the field of training and coordination among regulators. This also reflects the high level of the Bank of Lebanon, which has become a school in the area of monetary policy and economic stimulus. The banking relations between Lebanon and Iraq Vkadimh Covenant, a renewed presence of Iraqi banks are currently in Lebanon and the presence of nine Lebanese banks operating in Iraq in addition to the tenth Bank completed steps in, so that it is in Iraq, about 24 branches of banks Lebanese are divided between Baghdad and Erbil and Basra and Sulaymaniyah. The economics and business group organized a conference on the Iraqi Stock Exchange last year in Dubai. Thus, the Group is now live the Iraqi situation in detail and keep pace with the Iraqi banking sector, both public and private. Therefore, when we raised the Central Bank of Iraq the idea of holding this conference, we start from an in-depth study of the market and the needs of the Iraqi banks in terms of infrastructure, software and training in addition to what is usually targeted conferences of communication and exchange of ideas and experiences. "
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