Achieving the objectives of monetary policy requirements until the year 2020


 


08/05/2017 0:00

Samir Nasiri

The monetary policy of the most prominent efforts to achieve economic stability and stabilizing the exchange rate rates that the national economy will also increase the strength and effectiveness to meet the economic challenges of economic policies, as the achievement of foreign exchange reserves currently stands at up to 49 billion dollars, and install the Iraqi dinar exchange rate against the dollar are preparing to be necessary and appropriate, as the window of foreign currency held by the central positive role in maintaining an appropriate level of the exchange rate and install it.

The Central Bank of Iraq has taken several steps to expand the list of available tools formonetary policy and to cover the required reserve to include government deposits and granting facilities on deposits maturing in a short period in order to allow banks tomanage their liquidity situation more effectively.
You can identify the most important of what has been achieved monetary policy instruments during the years 2004 2006 and the first of the relative stability of the rates of the exchange rate of tight monetary policy and the stability of the financial system, as well as reducing inflationary phenomenon, and control the levels of liquidity and management, and motivate banks to move towards the market.
Since the central bank is currently implementing its plan for the years ahead, we see that you are studying a series of observations , including monitoring the implementation of thecentral strategy and future policies of cash until the year 2020 with the contribution of thebanking sector in gross domestic product, as well as necessary to search for new policies to achieve this goal and allow banks government and private participation in the growth and investment in accordance with the mechanisms and policies that can be implemented without imposing strict policies and give adequate elasticities, and address the apparent gap between the fiscal policies of the state and monetary policies adopted by the Central Bank of Iraq and the requirements of anti – pressure Inflationary and reducing current expenditure and coordination of plans and programs to achieve the rescue of the Iraqi economy from financial collapses.
It is important to activate the monetary policy to support the private banking system and review the policies of lending and mechanisms of credit risk management in the granting of credit to small and medium investment and loans in productivity and investment sectors that achieve cash flow clear and revive the economic cycle will contribute to the economic development and diversification of the financial resources of the general budget.
It is necessary to develop and support and stimulate the Iraqi market for securities and find the means and tools that drive towards the lifting of the market and the companies index of prices to suit the assets and standards of production and profits at least inevitably the true value of stocks and to prevent speculation that harm the Iraqi ancestry- which does not fit the true and actual value.
It is important that accurate follow – up instructions for a window of foreign currency issued in 2017 and regulate the sale of dollar process and determine the role of banks in the mediation between the customer and the central addition to determining theresponsibility of the ministries of trade, finance and planning in the offenses committed by some customers and not only load responsibility for banks.
Creation (Fund) or ( a private portfolio) certificates of deposit issued by banks wishing to address the deterioration of stock prices in the Iraq Stock Exchange and the addition ofnew banking management current investment investment climate in the market to stimulate as well as increasing the volume of bank deposits leads to increased investment activities in all economic sectors and thus achieve positive impact for investors.
The boards of directors in banks approving a strategy for operational risk and implementation of the executive management of the bank to ensure that the operational risks related to all kinds of products Almsrvih.aadh considering the provision for doubtful debts in accordance with the list of guidance and re – elasticities and extended additional time for banks to determine in order to be able to filter these debts , mostly dating back to periods precedent and that most debtors have migrated outside the cities of Iraq for security reasons beyond their control and that these ratios lead to a reduction in theirprofits actually realized as a result of the deduction of these percentages of net profit and thus affect the investment banking activities Yeh new.
The restructuring of the banking sector, particularly the government banking sector and tostudy the privatization of some of its divisions and branches and to activate the operating banks to expand and diversify their banking services especially to increase credit and investment share in a balanced way with its revenue total to become these banks aneffective pillar of economic growth that move away from the monopoly of some banking operations and the withholding of government activities and public institutions for private banks.

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