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Invitation to the introduction of modern technology in banks
Date: Monday 28/5/2012 8:19
Baghdad / range
proposed banking expert Mohsen on the development of the banking sector through the introduction of electronic systems in modern done to give confidence to foreign investors to invest in Iraq.
Ali said, according to the Agency (news): The supply of the banking sector to modern technology has become an urgent necessity at the moment to boost investment in the country forward, the fact that today's investor needs a banking system for the newly away his money on potential risks, pointing out that the banking sector plays a key role in attracting investors to the country.
He pointed out: that the Iraqi banking sector is underdeveloped at present dominated by bureaucracy and red tape because of its distance from the development in the world and is unable to interact with international banks, calling on the federal government to seek to improve the sector by resorting to the use of modern technology in the management of banks, In addition to open regular training courses for staff working in this vital sector.
consists of the banking system in Iraq (43) banks as well as the central bank and distributed according to ownership between (7) state banks and (30) banks waged, including (7) Islamic banks in addition to (6) foreign banks.
In spite of the Investment Law No. (13) for the year 2006 excludes investment in the banking sector of its provisions, except that the investment in the banking sector takes its legal framework on the basis of legal central bank number (56) for the year 2004 and the Banking Act No. (94) for the year 2004, with a minimum of the founding of a bank in Iraq (100) billion Iraqi dinars (ie, up to $ 85 million.
In the meantime, said the central bank near the work to open letters of credit has, instead of the transfer of credit for the process difficult, indicating that this procedure will guarantee to make sure that the hard currency that are sold to traders are not paid what were not there the goods and the hyphen for the country. Deputy Governor of Bank of the appearance of Mohammed, according to (Rn) that the central bank will soon open letters of credit rather than transfer of credit, which currently employs.
"He added that This procedure will enable the central bank to make sure that the hard currency that are sold to traders comes against which goods to Iraq. "he said, adding that" the bank's move is part of a the assets of traditional trade is added to the measures the bank has taken recently to protect the hard currency. and picked up local media reports about the breadth the phenomenon of smuggling hard currency from Iraq to Syria and Iran on the border crossings which has not been confirmed by the Central Bank of Iraq.
and subject Iran because of its nuclear program, and Syria as a result of public protest to international sanctions harsh and exposed markets both countries to collapse economically because of poor cash flow of hard currency.
are summarized the task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.
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Date: Monday 28/5/2012 8:19
Baghdad / range
proposed banking expert Mohsen on the development of the banking sector through the introduction of electronic systems in modern done to give confidence to foreign investors to invest in Iraq.
Ali said, according to the Agency (news): The supply of the banking sector to modern technology has become an urgent necessity at the moment to boost investment in the country forward, the fact that today's investor needs a banking system for the newly away his money on potential risks, pointing out that the banking sector plays a key role in attracting investors to the country.
He pointed out: that the Iraqi banking sector is underdeveloped at present dominated by bureaucracy and red tape because of its distance from the development in the world and is unable to interact with international banks, calling on the federal government to seek to improve the sector by resorting to the use of modern technology in the management of banks, In addition to open regular training courses for staff working in this vital sector.
consists of the banking system in Iraq (43) banks as well as the central bank and distributed according to ownership between (7) state banks and (30) banks waged, including (7) Islamic banks in addition to (6) foreign banks.
In spite of the Investment Law No. (13) for the year 2006 excludes investment in the banking sector of its provisions, except that the investment in the banking sector takes its legal framework on the basis of legal central bank number (56) for the year 2004 and the Banking Act No. (94) for the year 2004, with a minimum of the founding of a bank in Iraq (100) billion Iraqi dinars (ie, up to $ 85 million.
In the meantime, said the central bank near the work to open letters of credit has, instead of the transfer of credit for the process difficult, indicating that this procedure will guarantee to make sure that the hard currency that are sold to traders are not paid what were not there the goods and the hyphen for the country. Deputy Governor of Bank of the appearance of Mohammed, according to (Rn) that the central bank will soon open letters of credit rather than transfer of credit, which currently employs.
"He added that This procedure will enable the central bank to make sure that the hard currency that are sold to traders comes against which goods to Iraq. "he said, adding that" the bank's move is part of a the assets of traditional trade is added to the measures the bank has taken recently to protect the hard currency. and picked up local media reports about the breadth the phenomenon of smuggling hard currency from Iraq to Syria and Iran on the border crossings which has not been confirmed by the Central Bank of Iraq.
and subject Iran because of its nuclear program, and Syria as a result of public protest to international sanctions harsh and exposed markets both countries to collapse economically because of poor cash flow of hard currency.
are summarized the task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.
[You must be registered and logged in to see this link.]
