Central Strategy called the next five years

2/16/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb
Fired central bank Stratejth five years ahead 2016 - 2020, which came targets designed to put the Iraqi economy back on track and build a free economy based on market factors and competition.

Saleem al-Jubouri, head of the House of Representatives Park starting strategy the next five years and to begin to address the economic problems and that requires wisdom and precision, he returned to solve the economic Palmkrj security first step of the solutions must be from the economic side, which leads to finding political and security solutions to achieve progress in the work of the state and be able to secure funding for a detailed security and challenges in the fight against Daash terror, and securing entitlements volunteers to fight and displaced persons, as well as addressing the pressure in the housing and reconstruction of devastated cities.

He pointed to the importance of the advancement of the banking sector and benefit from cutting-edge international labor standards of successful international experiences, focusing on the role of the General Directorate of banking, credit and prepare human resources stomach seamlessly, urging the need to adopt advanced technology is following the movement money Wi case of money laundering.

he said that the time is appropriate to approve the financial Court Act, and exercised its work as one of the most important interfaces supervisory any excesses and the reduction of all forms of corruption, noting that the government reform process focused on creating exceptional solutions with the search for new people according to the law and the Constitution, pointing to the need to increase the contribution of the banking sector in the gross domestic product, to move the Iraqi economy, stressing the lack of withdrawal of the cash reserves of hard currency to cover the deficit in the balance of payments, noting that Iraq has a lot of wealth that can allow you to move the economy.

Central Bank Governor Ali Keywords said, we launched a strategy of the central bank, which acquires special significance being the first integrated strategy prepared in accordance with the thoughtful approach and in accordance with the best international standards and practices, pointing out that they were built in the light of the objectives of the Central Bank stipulated by the law and of the achievement of price stability and maintain a stable financial system and work to strengthen sustainable development.

He pointed out that the central work after 2003 to achieve overall stability in prices, also succeeded in reducing inflation from 40 percent to 2 percent.

Keywords between the president of strategic goals is to support and achieve financial stability through the establishment of the financial stability Department and strengthen systems the comprehensive control and protection of the financial system as well as the establishment of credit bureau and promote financial inclusion, and goals focused on activating the role of financial Institutions banking sector through the development of banking systems to build a framework for corporate governance and enhance transparency and disclosure practices.

He noted that the strategic targets also include the development of the regulatory environment and the organizational structure and the development of Ras human capital, as well as activating the integration of internal and external relationships.

the role of Ali Tariq, executive director of the Association of Iraqi private banks that the presence of strategic work regulating the movement of funds into the banking sector is extremely important, noting that private banks are constantly striving to organize their work and develop their products and that these strategy will be a motive of the private banking sector.

Tariq pointed out that it stands for joint deposit guarantee is extremely important and went creates trust between the public and private banks.
the competent affairs in the banking Bashar Shaker has pointed out that the strategic focus on the adoption of advanced systems and this in turn represents a success element in strengthening the banking, both public and private sector capacity, indicating that advanced technology is very important in the development of banking products and make them compete with global banks, especially that Iraq is in dire need of large transactions commensurate with the size of the local economy.