It began the work of the third session of the Forum for Iraq’s banking system, on Wednesday, with the participation of Governor of the Central Bank of Iraq on the Keywords and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon.
It seeks Forum, which 54 banks and 14 companies involving financial services and 15 company Informatics and 26 companies patron to discuss future prospects of the banking activity in Iraq are also held on the sidelines of meetings Tnayah among Lebanese banks operating in Iraq and the Governor of the Central Bank of Iraq on the Keywords to discuss the prospects of cooperation.
And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group Raouf Abu Zaki and president of Banks in Lebanon Association Joseph Tarabay stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern banking and insurance the safety of the banking business in both countries
Tags also focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy
She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering.
The President of the Association of Iraqi private banks and depositary Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon. To Ahtzanh this forum, noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing that the banking sector managed in spite of all these circumstances, to overcome obstacles and counter threats compliance and money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks.
Handal and touched on the plans and projects of Iraqi private banks association in the field of rehabilitation of human resources, noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year, 2017.
He sought Association for the implementation of the Central Bank of Iraq, a plan and a commitment to standards issued in the area of compliance and paying special attention to lending in the light of this purpose, the Central Bank’s initiative to allocate $ 6 billion to support small enterprises, medium and revitalize Iraq’s economic sector, and expressed hope that the settlement of employees’ salaries in banks own, similar to the Iraqi Central Bank.
He gave then Governor of the Central Bank of Iraq on the Keywords speech in which he expressed his thanks to the efforts of the Iraqi private banks association, he said that Iraq was able to overcome the 2016 major challenges that were difficult year during which he faced a crisis, financial, economic and large forces of terrorism represented Bdaash.
He stressed that Iraq is on the verge of a new stage carrying the promise of hope and goodness through. The elimination of terrorism and the liberation of the country from its evils.
He noted that the future holds indices to improve the economic situation by reducing the budget deficit and rising global oil prices and international support for Iraq in the face of terrorism, noting that Iraq will get between 15-18 billion dollars from the World Bank and the Fund in the coming years.
He pointed out the role of the central bank in the face of the challenge resulting from the drop in oil prices by nearly 75 percent, referring to the challenges of the expenditures and military displaced alluding to provide the Central Bank of 20 trillion Iraqi dinars to boost liquidity and securing the budget requirements, also touched on the conservative to the strategy of the central bank in rallying forces functional and built infrastructure through the creation of a wide launch of electronic payment and the granting of companies specializing in this area licenses for the exercise of its business base in Iraq and plans for the central bank to comply with prudential supervision and governance system.
For his part, he gave the Bank of Lebanon Governor Riad Salameh speech Ttaul aspects of cooperation between the banking sector in both Lebanon and Iraq, stressing the importance of compliance with international requirements and Alantmh concerning the involvement of banks and international banking Vidalaolmh through the use of modern technologies
Banking and accept experience in Lebanon and the future prospects of this important sector, stressing the importance of banking cooperation between the Arab countries.
He spoke during the forum secretary-general of the Bureau of Investigation Aalzvi Lebanon word in the opening session in which he talked about the challenges of compliance with global laws linked to the fight against money laundering and terrorism financing and tax evasion, and stressed the importance of transparency in the banking business and stay away for the privacy and automatic exchange of information between banks and set the international standards.
And then it held the first session of the forum under the Opportunities and Challenges / Troas and the meeting Prime Minister for Economic Affairs Dr. adviser to the Iraqi banking sector, the title of the appearance of Mohammed Saleh.
He spoke during the meeting by Waleed Idi adviser to the central bank governor and Asadi mandated by the Director-General of the Rafidain Bank.