Wednesday 06 March 2019 28
BAGHDAD / Hussein Tgb
continue preparations to organize the Forum “Iraq Banking” its fourth session in Baghdad on 26 – 27 March , the current under the auspices of the Central Bank of Iraq under the supervision of Economics and International Business Group, as it will address topics that the advancement of the domestic financial sector, and with the participation of a group of Iraqi and Arab Banking Leaders , and a group of experts and specialists, and officials from specialized technology companies.
Digital Banking Services
Addresses the forum several most important priorities of the Central Bank of Iraq and the elements of the Five-Year Plan 2016 – 2020 issues, harmonization of monetary and fiscal policy, and the return of the Iraqi banking sector to the international arena, as well as digital banking services and technological trends of the modern Iraqi banks towards electronic banking services, and stands at legislative efforts and organizational steps to keep pace with modernization, and the role of specialized technology companies and prospects for cooperation with ATM.POS Iraqi banking sector and the development and expansion of networks of payment points.
Executive Director of the organization of the group, Walid Abu Zaki said that “Iraq is on the cusp of a political radical changes, security and economic new, translated the completion of the editing stage and the launch of reconstruction and construction workshops, in parallel with the adoption of the government a comprehensive economic plan and procedures for the development of the investment climate and strengthening the role of the private sector to encourage the stage to attract investments, new towards vital sectors, and what it means that the need for substantial financial flows. ”
The application of international standards
He pointed out that “incentives to organize such forums that runs from the Central Bank of Iraq paid special attention to the need to keep up with the application of international standards, so as to enhance the confidence of international banking institutions sector, and its relationship with correspondent banks, and between these standards comply with Compliance, as well as international financial standards, as is the case with accounting standard No. 9 (IFRS9), and what it requires from the need to raise the efficiency of human resources in the sector and hone their Abraltdreb and raise the capacity. ”
Patrol platform for interaction
Between Abu Zaki that “Amid these developments, the Forum of Iraq banking comes its fourth session, organized by the Economics and Business Group, in cooperation with the Central Bank of Iraq and the Association of Iraqi private banks on 26-27 March, the current, in order to find a regular platform for interaction, dialogue and highlight the most achieved and how achievements meet the challenges resulting from the application of international standards or develop appropriate local environment. ”
He pointed out that “the role of the Central Bank of Iraq has become prominent in the quest to keep pace with the requirements of this stage, either through the adoption of a flexible monetary policy that takes into account the surrounding circumstances, or through the appropriate environment for expanding the participation of local banks in the financing.”
Islamic Banking Industry
Specialized in economic affairs Haider Kadhim al-Baghdadi said: “in front of the banking sector, large tasks to be supportive of actual development processes pursued by Iraq during future periods, and in the context of efforts to the banking industry development efforts, acquired the work on the Islamic banking industry and to provide appropriate regulatory legislative environment into development important from the Central Bank of Iraq’s efforts, as well as seeking to develop electronic banking services and digital services through recruitment of vital investments in the development of these channels to keep pace with global developments. ”