Alnasiri: proposes to enter Iraq economically meaningful agreements

1/13/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb
He stressed member of the Baghdad Economic Forum Samir advocate the need to move towards building infrastructure and securing sponsors and supportive of the economy and the introduction of Iraq and institutions in the agreements and long-term contracts with developed economies in order to develop production and service sectors and the oil industry in particular.

He called in an interview for »Sabah« apply the strategies prepared by the committees and bodies advisers in the Council of Ministers in collaboration with the UN and international organizations, of which there were up to 16 strategy needs to be put into

A clear strategy

Alnasiri urged to work towards identifying a methodology or strategy clear to the Iraqi economy, and that there be a vision for the coordination between fiscal and monetary policies, pointing to the importance that there will be financial management Court, as well as the fight against financial and administrative corruption, which represents a stumbling block in the way of sustainable development sought by Iraq .

The application of laws

He said that the current stage requires stand at the laws in question in economic affairs and work to Trchigaha and trimmed and not to hold on to the application of laws which does not correspond with the reality of the Iraqi economy, which began after 2003, including the 94 Banking Act of 2004 and the Central Bank Law 56 of 2004 and the law of Iraq Stock Exchange 74 for a year . 2004, and these laws are governing the banking and economic work in Iraq in addition to the legal investment and money laundering, which was conducted amendments to them recently after the debate and tugging the two continued much in the House of Representatives.

World Bank Reports

Alnasiri stressed the importance of study and analysis is accurate to the World Bank on the financial situation in Iraq and to benefit from the ideas put forward in these reports in order to reform the Iraqi banking sector and focus clearly on the creation of infrastructure, banking and application of modern technologies in the banking business with the completion of technical projects implemented by the central bank

Reality banks

And the importance of the central bank to proceed with the study of reality of government and private banks by reviewing, evaluating and rating these banks based on their financial statements and results of operations for 2015 and the adoption of an evaluation indicators and clear and based on force banks and international law and standards, pointing out that the leading indicators of financial position, liquidity, and how to employ Customer deposits and invest them and comply with the instructions window.

In particular, with regard to the granting of cash credit types to ensure the preservation of the rights of shareholders and the movement of funds to customers entering these banks and out of and transparency of data and information disclosed by the International Accounting Standards.

Comprehensive control

The Mediterranee has said in an interview to the need for the Central Bank of Iraq full and comprehensive control over the banking movement in Iraq by focusing on the control of pre-emptive electronic office and field and a programmer and the outline and identify irregularities and errors and excesses of the executive management of banking and take corrective action after giving them the time necessary and sufficient for correction and reform.

A dedicated team

He suggested that the central Mediterranee is a team of consultants, experts and economists and bankers Bankers Association of the private sector provides advice and expertise to the Board of Directors of the Bank and the relevant circles and before important decisions on monetary policy industry and its impact on the situatione.