Lebanon: the recommendations of the Iraq Banking Forum

Thanks Leigh Ann

Follow-up: wrapped up "the banking Iraq Forum" yesterday sessions that lasted over two days in Venice hotel, followed by a day a series of specialized workshops two-day visit at the Bristol Hotel.

Today saw the program of workshops presented by global IT companies dealt with the following headings: "Risk and Security", "adopt an approach in external financing to digital banking", "banking services developed according to experience," and "digital transformation".
The forum was held in the presence of Lebanon's Central Bank Governor Riad Salameh, the governor of the Iraqi Central Bank on the Keywords. It organized the forum "Group Economics and Business" in cooperation with the preparatory committees in each of the Central Bank of Lebanon and the Central Bank of Iraq, and was held with the participation of Lebanese and Iraqi and regional and international banks and foreign companies investment banking sector, and the Association of Banks in Lebanon and the Association of Iraqi private banks, and the presence of an effective technology companies, information and experts, specialists bankers and millions of Arabs and foreigners.

The forum came out the following recommendations:

"Development of the role of banks in the banking business to improve and increase its effectiveness, through our secure credit and investment to provide proper service to economic development in both countries requirements.

Strengthening the role of foreign investment and take advantage of the investment opportunities available in both countries for the development of infrastructure and the development of the residential sector and other priority sectors, according to the laws of investment in both countries.

Operating in Lebanon and Iraq to cooperate and open banking branches and banking offices in both countries, and to provide mutual lines of credit for the development of economic sectors and providing equal opportunities for both sides urged banks.

Central Banks of the (Lebanese and Iraqi) the exchange of expertise and experience in the banking, economic and financial area, to improve and develop the banking business through the Coordinating Committee that will shape by both banks.

The development of banking technologies and the transfer of expertise between the Central Bank of Lebanon and the Central Bank of Iraq, especially the electronic payment systems.

Commitment to Iraqi banks and branches of Lebanese banks in Iraq to work in earnest and within the timing set by the Central Bank of Iraq to the implementation of the technical requirements to join the National divider, according to electronic payment services and instructions issued thereunder system.

Lebanese and international information software specialized venture capitalists and technology companies in both countries urged to enter the Iraqi market more effectively, in light of the Iraqi Central Bank's efforts to create legislative and banking environment encouraging so.

Activate and develop joint agreement between all of the Iraqi Central Bank and the Bank of Lebanon to include cooperation in the field of combating money laundering and terrorist financing through the exchange of information and training.

He urged both countries working in the banks to abide by the rules of governance (good governance) and abide by the laws and rules of work in Iraq and Lebanon.

The formation of a joint committee between the Iraqi private banks association and the Association of Banks in Lebanon to put the above recommendations into practice according to a timetable to be agreed upon between the two sides for this purpose.

The second meeting of the day

The forum has completed its work yesterday held a number of hearings, and in the fourth session entitled "electronic banking, the new reality" and dealt with the legal and regulatory environment and the readiness of the central bank, the role of technology and information systems to the development of the banking business, technical infrastructure of the Iraqi banks requirements, foreign banks and the role Hopefully them in the transfer of expertise. Associate Director-General of the Directorate-General in which he spoke of the banking and credit control in the Iraqi Central Bank Alaa Abdul Ghani Sabbagh, Chief Technology Officer at Bank BLOM Antoine Aondos, director of the Department of payments at the Central Bank of Iraq sacrificed Abdul Karim, the director of the infrastructure project to pay retail at the Central Bank of Iraq Adnan Abd al-Asaad, director of infrastructure and financial services for the Middle East in "Huawei" Solutions Engineering Mohammed Damasi.

The fifth session was entitled "Prospects for the electronic banking and payment-mobile", and addressed the opportunities that may result from the adoption of governmental institutions, electronic payment systems, the role of technology and mobile services companies to provide innovative payment services, the development of digital payments in emerging markets, smart credit cards: operating systems and applications available, electronic banking and its role in the development of the banking sector. The president of emerging products and innovation to the Middle East and North Africa in the "Visa" Company Nathan Kouchna, Chief Technology Officer in the global smart card - to Card Hassan Al-Khatib, the director of payments in the "Hyper Bai" Aladdin Majid.

The sixth session entitled "Strengthening local capacity" in which each of the Chief Technology Officer in the Africa and Middle East region occur within the VCE Company Tom O'Reilly, the director of the Iraqi market in Misys company Mohammed al-Moussawi, the CEO of the "New Vision" in Iraq, Mohammad Qasim and Business Development Manager and sales in the Guardia Systems - Lebanon shady patron. The seventh session came to bear the title "international experiences" and in which he spoke of all sales manager in Iraq as part of Cisco Zulfikar Alkhalkhala, senior director of technical sales at Microsoft - Moez Tunisia and Egypt, Director of scientific solutions in Oracle - Emirates peace properly.