Central Bank Tends to Adopt a Strategy to Continue 5 Years

BAGHDAD – Hussein al-Tamimi Tgb – Examine the Central Bank and the Institute for the progress of the development policies and a number of economists central role in supporting economic reform and the future requirements of the current stage, while the Governor of the Central Bank stressed the need for plans and programs represent a financial reform requirements in the country.

President of the Institute d. Mehdi al-Hafez said at the beginning of the seminar, which was organized for this purpose: the audience of economists and central bank governor and director of the Prime Minister’s Office Tnaulo important issues including the role of private banks in the development of the economy and activating the role of financial Court, which is the main reference for solving problems with private banks.

Governor of the Central Bank said (morning): The reform of the financial sector need to process plans and programs is measured by achievement of goals, and needs to be managed and implemented by rational We must have the ability to do so.

He added that the tasks of the central bank’s future is wide and we are working to develop a strategy central to continue to work for (5) years to come aims to achieve big goals transferred to levels commensurate with the ambition.

Organization of Work
He noted that the detailed strategic deal with all the challenges within the time frames, including the amendments of certain laws and regulation of banking and Islamic banking, as well as the deposit guarantee law and Islamic law instruments.

Keywords pointed out that the central working on the establishment of institutions to guarantee deposits and small and medium enterprises, pointing out that the central ambition is moving to secure investment for major projects, is also working on the development of the debt market and tools, because there are no bonds of public debt, and this is an important tool in guiding religion.

He said he suggested that there should be a unified account of all state institutions in order to accrue interest over the central bank, stressing the need to expand the adoption of electronic payment for its importance in controlling the movement of liquidity.

And the importance of breaking the monopoly of government banks in dealings with state institutions and Aidaatha, indicating that the central works in cooperation with the economic and governmental Committee to reduce this monopoly and give private banks a chance in the big trade with the management of state institutions.

CBI Governor continued by saying that the central bank adopted a project to assess and classify This is necessary to deal with these banks and paints a clear picture of the beneficiaries in the interaction with any of the banks.

Association of private banks in Iraq, expressed gratitude to the Central Bank of Iraq in the new orientations aimed to support the banking sector and corporate banks that suffer an imbalance in the work program.

Raise Guardianship
A statement of the association for its chairman and Wadih Handal as saying that the central bank is working hard towards lifting guardianship for bank Warka and the economy and that the measures taken for this purpose in the final stages, pointing out that this is evidence of the extent of cooperation between the central and private banks, which is conducive to private banks to support and make it an important hub in sustainable economic development process and reduce the burden on the Iraqi economy.

The statement noted that the calendar control by the central bank for private banks is a positive step in the march of these banks.

A Supportive Environment
Concerned the honored banking Ali Tariq said that the cooperation between the central bank and banking civil health check of great economic feasibility of the country, where the private banking sector needs to activate its role in the economic life and this requires communication with the Central Bank of Iraq to create a supportive environment for the real role of banks in the process of economic development.


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