Closure of "Forum Iraq banking" and the recommendations of the development of banking technologies and the transfer of expertise between Lebanon and the Central Bank of Iraq

Thanks Leigh Ann Thursday, 17 September 2015 Last Updated 16:17

He concluded, "Iraq Banking 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 improving the banking business and increase its effectiveness, through the safe provision of credit and investment proper to serve the economic development of both countries' requirements. Promote foreign investment role and take advantage of the investment opportunities available in both countries for the development of infrastructure and the development of the housing sector and other priority sectors, according the laws of investment in both countries. Urge operating in Lebanon and Iraq to cooperate banking and the opening of branches and banking offices in both countries, banks, and provide mutual lines of credit for the development of economic sectors and providing equal opportunities for both sides. do Central Banks (Lebanese and Iraqi) the exchange of expertise and experience in the banking and economic sphere and financial, to improve and develop the banking business through the Coordinating Committee that will shape by both banks. the development of banking technologies expertise and transfer between the Central Bank of Lebanon and the Central Bank of Iraq, especially the electronic payment systems. Iraqi banks and branches of Lebanese banks in Iraq's commitment to work in earnest and within the timing set by the Central Bank Iraqi implementation of the technical requirements to join the National divider, according to electronic payment and instructions Services issued thereunder system. urged the international information and the Lebanese specialized software and venture capitalists IT companies in both countries 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. induce labor in both countries banks to abide by the rules of governance (good governance) and abide by the laws and rules of work in Iraq and Lebanon. formation 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.