Iraq Banking Forum" held in Beirut safety: to regulate the private sector debt and near-zero growth year

It opened the "Forum Iraq banking" in Beirut its presence bankers Lebanese and Iraqis, businessmen and business leaders and international organizations and experts, bankers, journalists, and about 400 participants from Arab and foreign countries. organized the forum "Economy and Business Group" and the Central Bank of Iraq in cooperation with the Central Bank of Lebanon and the Association of Iraqi private banks and Society Banks in Lebanon. Speaking at the opening of both the Governor of the Bank of Lebanon Riad Salameh, the governor of the Central Bank of Iraq, Dr. Ali Keywords, and President of the Lebanese Banks Association, Dr. Joseph Tarabay, and head of the Iraqi private banks association meek ​​Handal, CEO and President for "the economy and the business group" Raouf Abu Zaki.
Emphasized safety in his speech The Central Bank of Lebanon seen the importance to deal with Iraq's central especially Iraq to coordinate the risks 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. "He declared 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 Central to the reserves, "revealed the existence of initiatives central to encourage confidence in the existence of stable interest despite the expected release of" Standard & Poor's "Lebanon's rating from stable to negative, pointing to rising deposits 7% annual rate, while the solvency rose 12%, and expected that between the years 2015 and 2018 solvency rate will be 15%. He noted that in the year 2015 will not be seeing growth like the one achieved in 2014, and growth will be close to zero, and for this we have provided a package of incentives will include a credit of $ billion and up to 1.5 billion dollars in 2016 and will be an interest rate at the borders of 1 %, and include lending banks for housing sectors, small and medium-sized enterprises and projects of alternative energy, environment, education and other university. " He pointed to the high number of debtors between 1993 and 2015, from 70 thousand to 700 thousand, from here will be issued BDL circular to regulate the debt with the private sector in a responsible manner and with the participation of the Banking Control Commission to overcome the challenges of the stage. And seal integrity revealing near the launch of the financial markets authority electronic trading platform, as it will give the Central Bank of Lebanon and one license for the private sector to manage the platform that will be traded through the stock, bond and commodities, including gold.

The relationships, he said: "One of the objectives of this forum to discuss economic landscape and banking, and means to address the challenges, and provide future opportunities, as well as all of the Bank of Lebanon and the Iraqi central monetary policy with their respective strategic reconnaissance, and 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 two economies.

"In turn, He said Handal said the Association "have undertaken since the beginning of this year to support the Iraqi Central Bank to maintain a stable exchange rate. also played a prominent role through its participation in the National Expert Group chair for team funding presented a package of policies adopted by the Government for the development of the financial sector and the finance sector performance."

Tarabay and identified some areas where it can achieve a common and rewarding benefit and save time and money to Iraqi banks, including the enjoyment of Lebanese banks experience remarkable in financial intermediation and management of versions operations in international markets, in addition to the development of these banks an integrated and vital systems in the context of the overall banking, diversification of bundles of services and products in the areas of retail banking, and custom corporate banking, and investment banking. "It holds Lebanese banks advanced and relevant international standards locations within the scope of electronic banking, and the issuance and management of bank cards, and the dissemination of the latest ATM up and running. These banks also deployed in 33 countries, and is true that Iraqi banks invest as outlets to satisfy their customers in these markets requests." He pointed out that Lebanon has extended vital experience in the field of combating illicit funds. In addition to the law of the Central and circulars, banks and internal oversight units and human resources, which holds these responsibilities according to the highest international standards developed, the banking system also serves to finance public and private sector enough and professional recognition by international financial institutions.

"The Abu Zaki launched the opening session speech in which he considered this the Forum in Beirut is the embodiment of the expansion of the Lebanese banking in Iraq, but the level of cooperation between the CBI and
his Lebanese counterpart.