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Long-Presse / Baghdad
The Central Bank of Iraq, on Wednesday, his optimism improved domestic economic situation and reduce the budget deficit, noting that focuses on creating a platform wide electronic payment and strengthen prudential supervision system compliance and governance, while calling for the resettlement of staff eligibility banks salaries Bankers Association, Lebanese bank officials stressed the importance of cooperation between the two countries and compliance with international requirements and regulations relating to engagement banks globalized banking and cooperation between the Arab countries, transparency and automatic exchange of information.
This came during the third session of the Forum for Iraq’s banking system, which began today, in the Lebanese capital Beirut, with the participation of Governor of the Central Bank of Iraq, on the Keywords, financial advisor to the President of the Iraqi government, the appearance of Mohammed Saleh, Director General of the Rafidain Bank, Khawla al-Asadi, the president of Association of private banks Iraqi, Wadih Handal, the governor of the Bank of Lebanon, Riad Salameh, and 350 high-ranking officials in the Iraqi banking and Lebanese sector, and companies money, financial services and information technology in Iraq and Lebanon, according to a statement of the organizing committee, received a (long-Presse) a copy of it.
It seeks the forum, organized by the Central Bank of Iraq and “Economics and Business”, in collaboration with the Central Bank of Lebanon and the Association of Iraqi private banks and the Association of Banks in Lebanon, with the participation of 54 banks and 14 financial services company, and 15 IT companies, 26 corporate sponsor, to “discuss the future prospects of the banking activity in Iraq”.
It is held on the sidelines of the session, bilateral meetings between Lebanese banks operating in Iraq, and the Governor of the Central Bank of Iraq, to discuss the prospects for cooperation.
And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group, Raouf Abu Zaki, the head 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 strengthen banking experience in the two countries and the use of means modern technology in the banking activity, and ensure the safety of the banking business in the two countries. “
It focused words, 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,” calling for “Bridging corruption outlets and pay most attention to the safety of remittances and the fight against money laundering.”
He was head of the Iraqi private banks association, in his speech expressed his appreciation for “Lebanon to embrace the forum,” reviewing “developments in the Iraqi banking sector and the challenges it faces, in the shadow of the financial crisis and economic recession in Iraq and the region and the war on terrorism.”
He promised Handal, that “the Iraqi banking sector managed despite those circumstances to overcome the obstacles and addressed the risk of money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks,” noting that “the Iraqi private banks association is continuing its efforts for the rehabilitation of human resources, after having organized sessions training for two hundred employees of the banks during the past year in 2016, and seeks to train 400 more this year 2017 “.
The head of the Iraqi Association of private banks, that “the association is seeking to implement the Central Bank of Iraq, a plan and a commitment to standards issued by the compliance and paying special attention to lending in light of the central bank’s initiative to allocate six billion dollars for this purpose to support small and medium enterprises and revitalizing the Iraqi economic sector”, hoping that the “localization of employees’ salaries in private banks, just like the Central Bank of Iraq.”
In turn, the Governor of the Central Bank of Iraq, in his speech, said that “Iraq was able to overcome the great 2016 challenges were difficult years during which he faced a major financial and economic crisis and the forces of terror represented Bdaash,” noting that “Iraq has accepted a new stage bearing signs of hope and goodness of during the elimination of terrorism and the liberation of the country from the evils. “
And saw Keywords, that “the future holds pointers to the improved economic situation by reducing the budget deficit and rising oil prices worldwide and the international support for Iraq in the face of terrorism,” adding that “Iraq will receive between 15-18 billion dollars from the World Bank and the International Fund for the past the next. “
The Governor of the Central Bank, the importance of “the role of the bank in the face of the challenge resulting from the drop in oil prices by nearly 75 percent, in light of the challenges of military expenditures and the displaced,” revealing “to provide the Central Bank of 20 trillion dinars to support the financial liquidity and to secure the budget requirements.”
He Keywords that “the strategy of the central bank focused on rallying the technical strength and infrastructure through the creation of a platform wide electronic payment and the granting of companies specializing in this area licenses for the exercise of its work in Iraq,” Msttrda that “the central bank also seeks to strengthen the prudential oversight of the system of compliance and governance.” .
In turn, the governor of the Bank of Lebanon, said Riad Salameh, in his speech, said that “aspects of many and growing cooperation between the Lebanese and Iraqi banking sector”, stressing the importance of “compliance with international requirements and regulations regarding the involvement of banks in the international banking globalization through the use of modern technology, banking and cooperation among States Arabic”.
Meanwhile, the Secretary General of the Special Investigation Commission in Lebanon, Abdul Hafiz Mansoor said, in his speech, said that “banks face challenges to comply with global laws related to the fight against money laundering and terrorist financing and tax evasion,” stressing the importance of “transparency in the banking business and move away from the secrecy and automatic exchange of information between banks and adjust to international standards. “
And then it held the first working session of the forum titled “Iraqi banking sector Opportunities and Challenges”, was chaired by Advisor to Prime Minister for Economic Affairs, the appearance of Mohammed Saleh session.
Speaking at the meeting, each of the governor of the central bank adviser, Walid Idi, general manager of the Rafidain Bank, Khawla al-Asadi.