Abadi: Banks stimulate the economy development a shot in the arm 12/13/2015
Abadi: Banks stimulate the economy development a shot in the arm
12/13/2015 0 Comments
BAGHDAD - The morning kicked off on Saturday the activities of the annual Iraqi banking conference in the presence of delegations of Arab and foreign heads of which was held under the banking sector slogan Gateway Financial Inclusion and a pillar of sustainable development. At the beginning of the opening ceremony, the representative of Prime Minister Haider al-Abadi, Minister of Planning and Development Cooperation Salman Jumaili a speech welcoming the outset to participate Arab vast praising the role of those in charge of the conference included the word a broad overview of the support shown by the government for banks as a development arm, indicating that the reforms have affected the banking sector confirmed its importance in achieving the revitalization of economic sectors.
The prime minister noted in his speech to the contribution of the government in supporting the productive sectors through launch development loans earmarked for various projects program.
The prime minister warned of placing obstacles in the implementation of this vital program and important on the road to development.
In turn gave the central bank governor, Dr. Ali Keywords word accept, during which prospects of the strategy of the Central Bank in the field of financial inclusion aimed at expanding financial services to include large segments of the poor and the unemployed, expressing confidence in the possibility of achieving significant activities in the productive sectors.
then head of the Iraqi private banks association meek Handal: The primary objective of this conference is to stand on what has been achieved from the recommendations of the previous conference and diagnosis of the obstacles that we faced together Over the past year and come up with recommendations complement what we started last year and down to achieve the conference title (the banking sector gate of financial inclusion and pillar of the reform and sustainable development).
He added .. that the general economic and security situation in Iraq cast a shadow over the reality of the banking business and make us great responsibilities to contribute with the rest of parties in promoting and overcome the crises that we faced and we expect to continue through 2016, has led the overall decline in oil prices globally to a deficit in the budgets of the state for the years 2015 and 2016, which requires a pause of everyone to diagnose kinks in the Iraqi economy and correct the path to enable Iraq to confront its crises.
Handal He stressed that the Association of Banks calling for the important role of the central bank in a pre-emptive control over the banking system and the independence of this role as part of the basis and essential in the banking market stability in general, and also calls on the parties concerned to find alternatives to the auction through banks to move away from what accompanies this activity from jamming is the auction for the purpose the foundation has a provision of the national currency of state institutions and the preservation of the exchange rate. He has much banks of internal reforms over the past year in line with the reforms policy and developed a lot of its business and its methods, but I am still suffering from a crisis of trust existing between them and the government apparatus which impact directly on its work and is reflected in the confidence of the public by and reluctance to deal with them and directing their money and their dealings to banks outside of Iraq or to continue by methods cash deal outside the banking system.
Union of Arab Banks was present with a large delegation headed by its secretary general Wissam Fattouh, who confirmed that the Iraqi banking sector stepping Confidence for the development of all his joints and attract cutting-edge technology to all aspects of the work, stressing that continued Iraqi private banks association with Arab and international banks will lead to building a banking sector, indicating the need for there to be an exchange of experiences at the level of the Arab region that has seen a lot of banks significant developments in the adoption of advanced technology.
Executive Director of the Association of Iraqi private banks said that the conference has become an annual tradition to bring the parties from Economists and government banks and companies supporting the banking business and in this conference there is a new addition consisted of an international presence on the high level of heads of Arab and international banks and international companies specialized information technology, as well as attend the Union of Arab Banks. He pointed out that this conference draws the Association of Banks plan for next year aimed at active participation in the development process as well as the development of the banking sector in light of the current circumstances, noting cooperation with the Central Bank of Iraq for the advancement banking operation inside Iraq through the adoption of the central plans, stressing that the future work aims to make banks path parallel to the path of the central bank to serve Iraq.
He said, we will discuss the mechanisms and the inclusion of all segments of society the financial funding that taking has broad and great interest in the world and we are hired to serve Iraq and represents Our strategic for the next stage of the adoption of all allocated means for this purpose.
And that Congress will stand at the role of finance in the development process and the creation of job opportunities and project the Iraqi Central Bank financing and company financing of small and medium enterprises as well as the role of microfinance and five initiative trillion Iraqi dinars through government banks.
In turn pointed Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani said in an interview (morning) to the importance of the conference and that it will achieve something positive for the banking sector, where our banks are located, along with banks and regional and international banks have the most advanced technology that can be employed to create an effective banking sector is able to deal with the best global companies that need to be developed banking sector. Bolani said that private banks must be supporting the foundation to build the economy, we should look to the future with confidence and creativity through a solid and well-developed banking sector and we hope to find bridges of international local bank cooperation emerge from this conference, which can be described as significant.
The Executive Director of the Company Iraqi Bank Guarantees Rula Saleh has confirmed that the conference holds a special significance through the stand at the successful Arab and international experiences of operations bank lending and its role in achieving sustainable development, pointing to the importance of the work on the transfer of successful experiences to Iraq through convergence with the regional and international successful effort. He noted the importance of the conference and its role in the development of the necessary to the problems of emerging economies solutions and mechanisms to overcome them by offering solutions that are appropriate to provide funding for the various production and service projects that contribute to the advancement of the economic actor. Dr.. Khaled al-Ghazzawi creative director Bank Microfinance Bahraini occur (morning) for medium and small enterprises and micro-world experiences that have achieved great successes on the level of the world, and pointed out that Iraq, including owned economic capabilities and human resources capable of creating a sophisticated banking sector, especially we know The Iraqi banking construction date could that be one of the best sectors in the region and the world.
But Mohammed Zakaria EBI adviser has stressed the importance of the role of human resources in the development of the banking sector, pointing out that they represent the most important axes of development of the banking sector, where he leads the rehabilitation of human resources to create banking services fit and all segments of society. He urged the need to work on building human capacity equipped to deal with cutting-edge technology that the world is witnessing the mechanics and make it serve the community through financial inclusion and Dorhvi achieve economic viability of different countries of the world.