Banking expert member of the World Union of Arab Bankers Samir Abbas Nasiri said although the measures the numerous and instructions issued by the government and the Central Bank of Iraq during the last months of the year 2016 for the purpose of repairing and organizing the government banking and private business and, most recently dismissals and appointments issued by the Prime Minister of the general managers decisions Government banks and the launch of the Central Bank of the strategy up to 2020, but the business Unaudited banks, particularly private banks results Mhoshrat disappointing showing and far from the expectations planned and reason, as is evident for the professionals is mismanagement in some banks and non-compliance with the instructions Banking and central intervention boards of directors executive departments of banks private and especially the lack of governance for boardrooms and the disposal of some of them was a private bank King The largest shareholders and the problem here is that most of the board members have warheads money and manage the bank their potential Resume without relying on experts and advisers banks and executives are well versed banking work added to the weakness of Proactive control internal stakeholders and in most cases twice the diagnosis and accounting also that disrupted and weakened the banking business in Iraq as well as other causes of Foreign Affairs, which has affected the Iraqi economy, a drop in oil prices and the financial and administrative corruption and the war on terrorism and the lack of economic, financial and monetary stability, which requires treatment and repair of the Iraqi banking sector government support from the central bank as well as the intervention of Aatakaz decisive and quick decisions to correct all the negative tracks above and address the imbalance in the Iraqi banking business and restore the public’s confidence to deal with the banks and achieve the central objective of the increase of the percentage of the savings at the expense of the compactness of the mass of cash according to the following:
First: the role of government support
The formation of a specialized team is linked to the General Secretariat of the Council of Ministers and the membership of representatives of specialists and experts from:
Iraq Central Bank
Ministry of Finance
Iraqi private banks association
Economists and bankers experts selected by the President of the team does not number more than 4 experts
The team shall be considered and discussed executive measures to reform the banking first economic reforms that step
1. amend laws governing the banking business and is the Banking Act (94 of 2004) and the Central Bank Law (56 of 2004) and the law of Iraq Stock Exchange (74 of 2004) and the law of money laundering (93 of 2004) and the Investment Law, as amended, (13 of 2006) and the Law companies (21 of 1997).
2. Adoption of new financial monetary policy lead to comprehensive reform and restructuring of the public and the private banking sector.
3. Develop contexts and mechanisms for coordination between fiscal and executive two policies.
4. activating the supervision and control of pre-emptive electronic banking and supervision in accordance with the preparation and issuance of instructions and regulations guiding the new executive.
5. activating the role of government in building a strategy for the development of micro, small and medium enterprise development and construction of the mechanics and Adkhh the private sector to actively participate so that they can shift from the government sector continued to a major partner and then to the commander of the market.
6. start mechanisms and bricks Aloradh strategy of the Iraqi Central Bank for the year (2016-2022)
7. focus on increasing credit and finance, soft loans and deposits in the activation of the employment aspects of investment and reconstruction and advancing the process of economic development.
8. development of information technology and banking technology and modern in all its forms, with emphasis on disclosure and transparency of financial statements for banks and customers.
9. instructions and mechanisms that contribute to the development of human resources and banking in particular, the protection of banking experience or leadership cadres as a national economic expertise will contribute to the stability and development of the banking business setting
10. Develop a plan to address the financial collapse experienced by some private sector banks due to lack of current liquidity conditions and harmed financially and physically, especially in hot areas affected by terrorism.
11. Establish new criteria for the classification of private banks in accordance with international standard norms
12. reconsider controls selection of members of the boards of Directors and Commissioners and define the duties of the Council planning and non-interference in the executive management of the banks and to focus on economic specialization and the banking experience for members and reduce the number of its members to 5 members only and the adoption of advisers and experts, bankers specialists to supplement the Council’s executive management advice and expertise categorize that nominated Central Bank of Iraq in coordination with the Iraqi private banks association
13. establishment of investment funds and the contribution of the banks to finance large and strategic projects
Second central Iraqi Doralpennek believe that one of the important and fundamental solutions to overcome the Iraqi banking sector problems currently faced by most of the private banks and also in the coming stage will face government banks is seriously thinking by the Iraqi Central Bank and the Ministry of Finance in cooperation with the Commission ..