ASSERTIONS OF THE IMPORTANCE OF THE STABILITY OF THE CURRENCY IN THE ECONOMIC ADVANCEMENT
BAGHDAD – morning continues votes demanding action to raise the value of the local currency through a range of measures that limit the cases of manipulation and control of the negative phenomena may be taking place in the domestic money market (according to a specialist affairs, financial), where he works market local currency according to regulatory action issued by the Central Bank of Iraq thus maintaining the value of the currency and raise its exchange rate against foreign currencies.
competent affairs banking Munir Hassan al-Jubouri, pointed out the importance that kicks off private banks, local principle the adoption of mechanisms of action to support the currency, through the avoidance of money laundering, and dollar selling prices set by the central bank, especially the adoption of new mechanisms adopted after a consultative meeting with the Association of private banks in Iraq.
He added in an interview (morning) that the work of private banks in the country should be heading to participate in the work of development and reconstruction ahead of all economic sectors in all the provinces, pointing out that the implementation processes require cash is great, and there are banks have the ability to finance some of the projects , especially as the number of banks directed to raise their capital continuously outside the ceiling set by the central bank extents different.
pointed to the importance to understand the banking requirements of the economic development process and lending mechanisms, which must be based on the work contexts logical guarantee the rights of the parties to the action, noting that the existence of guarantees for financing operations is extremely important and enhance confidence in the deal and doubles funding operations adopted by the private banks.
said: The investment projects are many and in different sectors and require financing can be for banks civil positive role in that, provided that there is coordination work between the investor and the bank financier, pointing to a number of incidents which impacted negatively on the operations of finance, which was the disappearance of the investor after receiving the first installment of the bank, which resulted in a decline in funding operations only after the measures guarantor may take a long time.
He pointed to the importance of work to modernize banking systems in order to achieve the multiplicity of advanced products and catch up with the international banks that exceeded the (100) product, while our banks to today stands at number Hjul of products to exceed (15) product.,
And stressed the importance of the promotion of human talent and make them keep pace with developments technological witnessed by international banks through participation intraining courses organized in various countries around the world, or in the centers ofinternational banks, especially that some international banks began to open branches in the country, pointing out that the Gulf Bank, for example, is working to involve competencies in cycles continuously outside the country to stand on the most important developments in the global banking sector, especially after the plan, which was developed for the advancement of capitalizing it to (850) billion dinars.