Economists call a project to reform the banking system
04/02/2012 13:04

Baghdad, "Iraq's gate," Mohammed Sharif

A number of economists and bankers draft to reform the banking system and the establishment of the high bank in Iraq.

They discussed at a seminar house MP Ahmed Chalabi attended by "the gate of Iraq" on Thursday and paper work included the establishment of the bank senior mission overseeing the banking supervision, and help banks to implement Basel 2, and the development of methods of control depending on the methods of control of the Central Bank and the offices of the accounting audit and finance, and improve methods of internal control in banks by focusing on highlighting the importance of monitoring capital adequacy and adherence to the provision of international standards.

And the whole meeting on the importance of passing a law to guarantee bank deposits and the establishment of an independent body to ensure the deposits in which the central bank and the Ministry of Finance and shall have the powers of an independent monitor the performance of banks and the safety of deposits, and to ensure increase in the number of bank branches operating to at least 8 times the current size during a period of five years depending the standard population.

A number of communities on the need to invest deposits in banks, programs, industry, housing and agriculture are thoughtful, so does not constitute pressure on bank liquidity, along with the importance of encouraging all banks operating in Iraq to adopt the technology modern-based information systems developed for the management of its bank, and the adoption of debit cards, mail and publish ATM tens of thousands across the country by providing technical advice and tax incentives.

He pointed to the importance of meeting the establishment of training institutes for bank staff take it upon themselves to develop and train the personnel and the use of international expertise in this area.