Call for cooperation and integration of global economies

8/18/2015 0:00

BAGHDAD - Hussein al-Tamimi Tgb
head of the Iraqi private banks association meek ​​Handal said the formation of team orders Diwani by the Prime Minister during the January 2015 came to contribute in determining the correct paths of the Iraqi economy through the economic reforms pursued by the government to achieve economic development, and between the main team composed of Nine people were specialists in more than a detailed economic, there are sub-teams technical and economic aim of the issuance of policies and measures to support the private sector package, and policy development to ensure the implementation of Article 25 of the Constitution included reform of the Iraqi economy according to modern foundations and the diversity of sources of income and support the private development sector and encourage investment in the various sectors .

Handal said the package was launched from several directions the most important shared national vision between the public sector and the private sector beyond political considerations factional and personal interests narrow, and that the postponement of the reform will have a negative effect, pointing to the need to strengthen the capacity of the national economy on a sustainable growth and modernization of technology of production and diversification of income sources as well as providing employment opportunities as well as to preserve national wealth of material and human resources and development.

He pointed out that the package directions focused on the need to strengthen the bonds of cooperation and integration or merger with Arab, regional and global economy and this requires upgrading to international standards and abide by the general conditions of the WTO that Iraq is seeking to join to it, as it would take to achieve partnership with international companies in the list of new projects or in various activities, which owns its products competitive advantage in the domestic market or export markets, especially that global companies prefer to partner with the Iraqi private sector and not the government.

And the fundamentals of the group's work study experiences to ten Mrabha the past years that the Iraqi economy where methods are useless adopted which led us to organize continuous workshops with experts. Pointing out that the expert group goes to great lengths to reach the economically viable outlets, and then raise several proposals Vdilan proposals submitted by the Iraqi private banks association, was also touched on the successful experiences as a banking Ulkipalalt a local example and experience Emirates Airline and successes as an example of a regional.

He called the media snapped its leading role in supporting the orientations aimed to promote the national economy Bmphasalh production and service.

Executive Director of the Association of Iraqi private banks Ali Tariq said that the government is working to support the private sector and this is leading to the rise capabilities of this sector in the various terms of reference, especially in the banking sector Special which represents the axis of the starting point for the process of economic development.

Tariq stressed the need for legislation to guarantee deposits law, which works to document the relationship between private banks and citizens who Ictnzn cluster of large cash worth billions of dollars that could be invested in activating the economy through employment in projects A_i_marah income-generating.

He that directing the 5 trillion loans, as well as the "1" trillion dinars need the division of tasks between all relevant authorities in this matter, as well as the need for international expertise in the subject of consultation, especially as the foreign experts have a future vision for the coming years and reach the target set for it.

Tariq had confirmed the efforts of the Association for the development of human resources to operate in private banks under a plan prepared this Ahan.hat stressed the importance of creating raise the competencies of employees in private banks to contribute to the advancement of the banking and mastery of advanced banking technology, which supplies to Iraq gradually.
At the time confirmed Association of private banks in Iraq to comply with instructions of the Central Bank of Iraq in organizing the work of private banks for being the sectoral supervising the private banks.

A statement from the Association that the current stage requires sectoral entities that have a role in the running of the economy, including the banking sector, which is practiced and compliance with the supervisory authority