97 Show Last update: Wednesday, February 17, 2016 - 10:36
Strategic central bank
Now the Iraqi Central Bank has set the main lines of the course of monetary policy for five years represented by firing strategic plan for the years 2016 - 2020, which had its opening ceremony of a high-level presence in the person of the President of the Iraqi parliament and the collection of the respective personnel in the banking sector who are the owners of the need for the central vision of the future with their activities.
It characterized the strategy clearly and transparently presenting perceptions of those in charge of the central bank in dealing with the economic situation as a whole, considering that money is the main driver of all economic events, including the houses of capital participated in the launch ceremony means that they are aware with all requirements out of the grim financial crisis, and thus the central vacated discharged from liability stumble for clarity Strutijeth.
Then there is a real need to clarify the nature of the relationship approaching on the implementation of this strategy and it is essential that people with groping involved in their implementation of the direct relationship they arm the central bank and the banking sector of the task entrusted to them.
Now required to work on the dismantling of this strategy according to the required roles of all the arms in question to ensure the success of this strategy in achieving the goals required to achieve financial stability, meaning that they can be the entire banking sector in response to both the private Awaovernma to hedge and determine the effects of the crisis .althadi most prominent facing this strategy lies in the gap in the ownership of modern technology and the adoption of international standards in banking transactions between the private and government sectors, where the government sector remained late in the recruiting technology.
This challenge requires first to legislate unzip government banks link the Ministry of Finance and linked Bantrza and then they can be structured to compel it to its laws and instructions and then privatized and thus implement the strategic smoothly.
Therefore, we stress the importance of attention to the need for expert calls the homogeneity of monetary and fiscal policy in order to respond effectively to the crisis so they can achieve financial stability essential in achieving the desired economic stability.