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Financial: the development of the banking system wheel drives investment in the country
Date: Saturday 22/09/2012 07:19 am
Baghdad / Hossam al-Saadi
called a number of experts and specialists in the banking business to need attention banking sector and restructuring through the introduction of devices global banking modern and personnel training of its employees as well as issuing legislation legal format attracts investment companies of the country and facilitate its work,
Noting that some Iraqi banks operate without controls what made the citizen loses his confidence out.
said banking expert Mohsen Ali told (long): The development of the banking sector with modern technology has become an urgent need at the moment to drive investment in the country, the fact that the investor today needs to banking system talk to is his money on potential risks, pointing out that the banking sector plays a key role in attracting investors to the country.
said Ali that the Iraqi banking sector is one of the sectors underdeveloped at present dominated by bureaucracy because its distance from the evolution of the world what make it capable of interacting with international banks, calling the federal government to seek to improve the sector by resorting to the use of best technology in modern management banks, in addition to open regular training courses for cadres working in this vital sector.
Lama professor academic at the University of Mustansiriya Ahmad Hilaly He told (long): The indicators of scientific and results banking all indicate that Iraqi banks need urgent and necessary to find a new action plan in line with the technological development of modern, to develop work Almassarfa and advancement incident either state banks or private.
added: that the banking policy followed Currently in Iraqi banks are not clear and need to reconsider much of their actions because they contradict each other, leads to loss of time and effort and to freeze funds in banks without investment, believing it to the banking sector as the beating heart of each economic system in the world, because of its prominent role and senior finance all investment projects in the country.
stressed banking expert on equality between Iraqi banks (public and private) and tighten up and monitoring the work and money owned by the fact that the data suggest that there is a financial surplus large banks to hang and is an investor.
Meanwhile between economic expert Ismail Redha The development of the banking sector and restructuring will lead to the movement of a large investment in the country and will enhance public confidence in banks, calling for restructuring through the development of regulations and laws by the Central Bank on the Iraqi banks and they need to apply because some banks operate without controls what affected the economic activity and lost audience .
said Abdolreza told (long): Although the private banks operate obsolete new imposed by the central bank but routine still prevalent in their work and some of them facing great difficulties at work because they operate without legal controls, pointing to the existence of banks declared bankruptcy , affecting economic activity and lost the trust of the citizens out.
added: should the Central Bank to put new controls on banks and force them to be applied to organize their work and banks offense impose sanctions for up to fines large order Tntam work, noting that the banking sector is the main player in attracting investment to the country because the investor when he goes to the investment environment looking for a banking system developed to facilitate its work.
Meanwhile called member of the Finance Committee MP for the coalition of Kurdish blocs Najiba Najib to introduction of modern technology in the banking sector through the provision of banking services to mobile subscribers, to facilitate trading cash in the country.
said Najib in a press statement: The Iraqi banking sector needs to new reforms and restructuring, because the Iraqi economy is undergoing a transformation from a totalitarian system central to a free economy is the central, stressing that the banking system in Iraq is still governed by old laws and decisions not being able to promote incident.
added: must work to make the banking sector in line for the development of modern technological and which is a basic point and important banking business in all countries of the world, by connecting all banks network unified communications offering banking services to the citizen through mobile devices.
pointed to that the federal government has formed a committee for more than two years to restructure the banks, and that the parliamentary Finance Committee continues to organize conferences and seminars panel discussions and workshops out new legislation supporting the banking sector and its development, can not develop the banking system without the presence of a suitable platform has Kalaslahat and legislation.
mentioned that the system Iraq's banking consists of forty-three banks as well as the Central Bank and distributed by property (7) government and banks (30) waged, including banks (7) Islamic banks, in addition to (6) of foreign banks. Although the Investment Law No. 13 of 2006 has excluded investment in the banking sector of its provisions except that the investment in the banking sector takes its legal framework based on the legal central bank No. 56 of 2004, banks No. 94 of 2004, with a minimum to create a bank in Iraq 100 billion Iraqi dinars (ie around 85 million dollars).
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