And in his view reality and prospects of development of the banking sector in Iraq and challenges and our shaping strategy and the Iraqi banking sector's contribution to economic development in order to contribute effectively to support reconstruction, development and investment.
"in an interview for (morning) to study the structure of the banking sector in Iraq require a background review of the sector in the previous phase, the banking sector was part as Asia structure centralized economic system based on rely entirely on so-called economic rents, which proceeds from oil revenues, about The banking sector to interface with all the requirements of unilateral development, dependence on State requirements, funding and management directly.
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[millionday] He said: for the purpose of ensuring the application of clear and specific strategy to reform the Iraqi banking sector in economic development,
we recommend that administrators and specialists and members of Congress to study and discuss the working papers presented and recommendations clear and realistic hope that a higher body for banking reform in Iraq,
pointing to the need to include the Economic Commission of the Council of Ministers and the economic and Financial Committee in the House of representatives and the CBI selected consultants, economists and bankers in the private sector by building strategic Iraqi banking sector's contribution to economic development and policy And mechanisms for transition to reform the Government and banking sector
and set a five-year period, ending in 2017 to get the job done in stages in conjunction with the five-year development plan.
[millionday] note -- these are the recommendations
[millionday] note -- to activate the economic plan that starts in 2013 now to move forward with all informed and educated committees at the ready
[millionday] He also stressed the importance of creating a banking regulatory environment allow for the development of the banking system through the enactment of a new law on banks is consistent with the current and future developments in the banking system and a law for Islamic banks and to review and amend other laws related to monetary policy and banking regulation. Foundation
[millionday] note -- in other words -- activate everything including the currency banking and economic reform
[millionday] And the relationship to that of the banking sector, a key pillar in the process of economic development as a project financier stream, as well as the important banking and employment and building experiences that serve the economy, although the banking sector is new and enables the expansion of venture capital funds and savings it needs to expand the adoption of advanced systems, commensurate with the size of the local economy.
The role of private banks has become an urgent necessity stems from the philosophy of the existing State.
[millionday] note -- has become urgent !!!
[millionday] To review relevant legislation and laws which are in some very constraint and scaled to the role of private banks, and we hope that this Conference, specific proposals for legislative and regulatory amendments and we are ready to work with them and adopted.
The Conference is invited to develop a comprehensive plan for reform and development of this dynamic sector and sets out ways to improve the field of private banks, and develop appropriate rules for joint cooperation between the sector and Government banks, the Central Bank and Ministry of finance.
[millionday] note -- they are asking to finish any laws etc in place that have to be changed at this conference while they have help -- nice
[millionday] The Director General emphasized the Trade Bank of Iraq hamdiya dry need to pay attention to human resources the success or failure of the banking sector and the services it provides to the public. She drew attention to the importance of the administrative side in banking,
saying that administrative errors is difficult to treat, and demanded that the Conference will discuss the theme of human capital and the development of capacities.
[millionday] note -- they are wanting to have input and have it completed to have enough employees ready for the trade bank while this is going on -- so they have no problem arise from lack of workers and info --- labanon is there and offering to help greatly
[millionday] The representative of the Association of banks in Lebanon, Samir long noted the close cooperation between the Association of private banks in Iraq and the resulting assembly training helped develop competencies and enabled them to better handle modern banking techniques,
pointing to the signing of a protocol of cooperation to support the Lebanese experience in the latest science and technology.
Member of the Board of Directors of the Association of private banks Dr. Sadiq al-shammari has addressed in his paper on Islamic banks and high activity continuously Conference organized to treat Bank development parameters that represent a starting point for comprehensive development. He noted that the Conference would prompt the Audiencia Nacional
[millionday] they are saying that they are familiar with all the new technolgy and are willing to help for the pure help of it as islamic banking
[booboo] how long will the conference last?
[millionday] another two days i believe i know it is tomorrow too but not sure about monday yet
[millionday] here is some more on activating legislation right away and the changes they are talking about at the conference to be done right away hmmm
[millionday] Increased calls for legislative and executive bodies to the need to activate legislation that supports the local economy and encourage investment in several areas, as well as laws that safeguard the free competition in trade, industry and agriculture.
Economist Dr. Majid mock felt that an integrated understanding of a market economy, it does not mean the private sector, but the public sector contribution. said mock (morning): "the package of laws needed to encourage investment and national production is not activated or legislator, since the basic objective to encourage them is activated and the legislation of laws on investment and improve the local economy.
" he called on stakeholders To cancel the previous laws concerning State control over production, and to support and encourage domestic production, adding that the key issue is to deal with all laws concerning the totalitarian economy
[millionday] note -- the laws needed are set and ready for their investments etc -- they are talking about sifting and removing anything out of place and of course activate the monetary and economic policy and reform now to move now
[millionday] According to article 25 of the Constitution states: "the State undertakes to repair the Iraqi economy according to modern economic fundamentals to ensure full investment of its resources, diversifying its sources, and encourage the private sector and development"
continued in hContemporary: "the public sector must be at the service, because it needs very large investments, especially in the energy sector, generation and service sectors helping to stimulate industrial and
[millionday] agricultural production, housing, indicating that you must transfer management of the productive sector to private capital and the economic process, and there should be an independent management boards without State intervention in this area.
the expert stressed the need to push the productive sector to do its duty, especially that move the productive economy In particular the private sector will solve a lot of problems such as unemployment, arguing that some laws have not helped to support and strengthen the agricultural sector, industrial sector, specifically the tariff Act, which is supposed to protect existing industries and industries can do to encourage them.
[millionday] nice -- they are saying at the conference that they need the economy of iraq to move forward with not just cash but with everything -- huge pushs to move forward and in a hurry
The Iraqi delegation to the meeting included eight representatives from the Ministry of Transportation. The U.S. delegation included representatives from the Departments of State, Transportation – including the Federal Aviation Administration – Commerce, the U.S. Coast Guard and the Transportation Security Administration. This is the first JCC for this sector of the SFA.
[millionday] The delegations noted the progress made in the transportation sector in Iraq since 2003 and emphasized the importance of continued close cooperation on all modes of transportation.
They reviewed U.S. assistance related to the development of Iraq’s aviation, rail and maritime sectors, and explored opportunities for U.S. companies to invest in Iraq’s transportation infrastructure.
Participants identified ways to expand cooperation and advance the Government of Iraq’s efforts to strengthen safety, security and economic freedom at Iraq’s seaports and airports.
[millionday] The United States reaffirmed its commitment to continue to provide advice to the Iraqi Civil Aviation Authority as it prepares for an audit to be conducted by the International Civil Aviation Organization (ICAO) in 2014.
The U.S. pledged to support Iraq as it develops capabilities to conduct adequate communication and navigation surveillance; augment security at seaports and airports; further develop and modernize its aviation infrastructure; and improve its ability to conduct investigations of significant accidents in all modes of transportation-aviation, railroad, highway, and marine.
[millionday] note -- this is compliant with international laws and expectations
[millionday] On the margins of the JCC, the Iraqi delegation conducted site visits of major transportation facilities, including the Port of Baltimore, and participated in a roundtable with the U.S. Chamber of Commerce to discuss opportunities for economic cooperation.
The Iraqi and U.S. delegations noted the successful delivery last month of the first of 30 Boeing 737-800 aircraft to Iraqi Airways at Baghdad International Airport, which will help Iraqi Airways to reconstitute its fleet and allow it to expand its operations.
They also discussed ways to facilitate the delivery of the remaining aircraft during the period of 2013-2019.
The Iraqi and U.S. delegations agreed to continue discussions of all issues through working groups and hold the next meeting of the STET JCC in Baghdad, at which time participants would plan to discuss ongoing transportation issues and other issues that are the purview of this JCC, to include science, environmental, and strategic water issues.