Economist: Iraq needs a well - developed banking system



Views 21 Date 10/20/2016 - 18:41

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Said financial expert Mohammad Ali Jaber, the banking operations at the core of the starting point for the success of all production and service economic actors alike, bringing the reality of the Iraqi case requires the construction of a sophisticated banking system is capable of significant economic effort service.

Jaber said in a press statement, he said that building a strong banking sector requires a strengthening of human resources and enable them to contribute their competence in providing advanced products acceptable in the world, especially as the Iraqi economy is an important part of the global economy and the future of the widely awaited action.

He pointed to the importance of the efforts directed to the development of advanced banking techniques required by the workload, noting that Iraq needs to create specialized training centers in this vital joint, spread with most of the provinces of the urgent need to create a workforce skilled in all disciplines.

And practiced most of the banks and traditional banking operations did not enter the developmental activity very effectively as it gets in the country of the developed world.

He added that the expansion of banking products means adopting advanced systems leading to the growing banking transactions and achieve revenue and earnings commensurate with the effort they give to a wide range of customers at all levels of firms or citizens.

And the importance of training and rehabilitation of government and private banking cadres and develop their skills in accordance with international banking standards and "Basel 3 agreement and benefit from the lessons and the lessons derived from global crises over the past years and their impact on global economies.

He noted that human resources working in the banks are the foundation of the development of the financial sector operations, which we desperately need them to create a banking sector that competes with regional and international banks to provide services, noting that the Iraqi economy needs a significant digits in the dealings of the capacity of the volume of work in all areas, and here to be to be able to deal with large numbers


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