Economist: Iraq needs a sophisticated banking system


20/10/2016 13:33




The financial expert said Ali Jaber, the banking operations starting axis represents the success of all economic actors both production and service, thus requires Iraqi reality build a sophisticated banking system capable of serving a major economic effort.

Jaber said in a press release, to build a solid banking sector requires strengthening human resources and enable them to contribute their sophisticated products globally acceptable, especially if the Iraqi economy is an important part of the global economy and waiting for future work.

He noted the importance to guide efforts to develop advanced banking techniques required workload, noting that Iraq needs to create specialized training centers in this joint, spread most of the provinces of the urgent need to create skilled in all disciplines.
And most traditional banking operations and banks did not enter the developmental activity with great effectiveness as it gets in the countries of the developed world.

He added that the expansion of banking products mean adoption of sophisticated systems lead to increasing banking transactions and achieve revenue and income commensurate with the efforts to a large segment of customers with different levels of companies or citizens.

And the importance of training and qualifying for Government and private banking staff and develop their skills according to international banking standards and Basel Convention 3 and take advantage of the lessons and the lessons derived from the global crisis through the years and their impact on global economies.

He noted that human resources are the basis for the development banks sector that we need to create a banking sector competing regional and international banks in providing services, noting that the Iraqi economy needs big numbers in his business dealings in all regions of the workload capacity, here must be able to cope with large numbers

Link