Experts stress need for the banking system to a new structur
Posted: Fri Oct 07, 2011 12:14 pmExperts stress need for the banking system to a new structure
Sat 10/08/2011 7:50
The whole number of experts on the urgent need for re-evaluation of the banking system in both its public and private sectors and restructuring, at the time of moving necessary to confirm the independence of the central bank authority cash in the country. He said economic expert Dr Majid picture: There are two main axes in the restructuring of the banks first,
Restructuring of the Rafidain and Rashid, at the same time restructuring the supervisory body in the central bank carries out supervision on the work of banks, while the second axis is the issue the instructions required for the development of banking business. He added that the recommendations of the Basel Committee on banking sector committed by the Iraqi Central Bank through the issuance of regulations, which included government and private banks alike, but the unfortunate thing is that these regulations delayed issuance of the years 2008 to 2011, which includes consulting and other procedures that have been published in the Official Gazette.
He said the picture that there is a problem in the process of making such regulations at the present time there is a difference between regulations existing between the potential of these banks and the supervisory organ of the Central Bank, and thus there is a need to regulate these regulations, and put the right foundations in dealing with banks with the availability of modern technology, indicating that without the presence of these developments, there will be no action in these regulations, since the basic problem in the use of modern technology in order to reach management or control of susceptibility susceptibility to the work of banks, and will not happen without the development of concrete in the banking business.
He pointed out the picture that the basic problem is that the central bank comes to him information in a month or two months to be able to release the budgets for the banks, which means that there is a need for a period of six months to monitor the performance of banks, a topic important to study what happens during the previous period, as can technological development to provide preliminary information for any topic in the same moment, through which monitor the performance of banks in order to apply the policy needed banking, which requires a move towards the application of modern means of monitoring the performance of banks and the Central Bank, which functions not related to the bank alone, but the World Bank as well as to restructure the banks governmental and civil society in Iraq.
For his part, said Dr. Falah Athwaina professor of economics at the University of Mustansiriya The quest to maintain the domestic price and strengthen the financial system stable and competitive, according to the laws of the Central Bank supports the promotion of sustainable growth and prosperity in Iraq, and that the issue of independence of the Central Bank as a central subject of the economic policy of public and how assume its responsibilities defined by law.
He added that under the study of monetary policy of the central banks in the countries of the world, clear set of standards that prevail in specific circumstances, some of the key variables against which specifies that the central bank independent or otherwise, and those standards the amount of time to set the governor and the party that you set or change , the standard the other is the formulation of monetary policy, and the fact that the central bank is responsible for drafting or there is a role for the Ministry of Finance or the ministries and other institutions with a role, and the third criterion is to determine the objectives of monetary policy and the selected bank or the other.
He said the standard the other is the stability of government, since many of the professionals in regard monetary preparing this axis, or the standard critical point, which gave him 50%, if we go back to the other criteria, we find that the standard change the conservative 20% of the set of criteria other While in Iraq is the standard rate of 15% as a contribution to the legislative authority of the Central Bank Board of Directors in the appointment of the Governor.
He pointed out that the percentage of the standard setting monetary policy in Iraq, amounting to 8%, while the actual proportion of 15% and the subordination of the Central Bank of the economic policies of other, as for the standard stability of the government and through which we recognize the strength of the monetary authority, monetary policy and the implementation of procedures in Iraq, amounting 46% of the 50%, while the gross proceeds of 78%, the ratio is high, according to the determinants of monetary policy, especially for the period after 2003, as they were not before that time the lowest elements of monetary policy such as those present.
As each ministry is currently working on its own without coordination with other ministries and relevant authorities in the common areas
http://bit.ly/pBR0MU
Sat 10/08/2011 7:50
The whole number of experts on the urgent need for re-evaluation of the banking system in both its public and private sectors and restructuring, at the time of moving necessary to confirm the independence of the central bank authority cash in the country. He said economic expert Dr Majid picture: There are two main axes in the restructuring of the banks first,
Restructuring of the Rafidain and Rashid, at the same time restructuring the supervisory body in the central bank carries out supervision on the work of banks, while the second axis is the issue the instructions required for the development of banking business. He added that the recommendations of the Basel Committee on banking sector committed by the Iraqi Central Bank through the issuance of regulations, which included government and private banks alike, but the unfortunate thing is that these regulations delayed issuance of the years 2008 to 2011, which includes consulting and other procedures that have been published in the Official Gazette.
He said the picture that there is a problem in the process of making such regulations at the present time there is a difference between regulations existing between the potential of these banks and the supervisory organ of the Central Bank, and thus there is a need to regulate these regulations, and put the right foundations in dealing with banks with the availability of modern technology, indicating that without the presence of these developments, there will be no action in these regulations, since the basic problem in the use of modern technology in order to reach management or control of susceptibility susceptibility to the work of banks, and will not happen without the development of concrete in the banking business.
He pointed out the picture that the basic problem is that the central bank comes to him information in a month or two months to be able to release the budgets for the banks, which means that there is a need for a period of six months to monitor the performance of banks, a topic important to study what happens during the previous period, as can technological development to provide preliminary information for any topic in the same moment, through which monitor the performance of banks in order to apply the policy needed banking, which requires a move towards the application of modern means of monitoring the performance of banks and the Central Bank, which functions not related to the bank alone, but the World Bank as well as to restructure the banks governmental and civil society in Iraq.
For his part, said Dr. Falah Athwaina professor of economics at the University of Mustansiriya The quest to maintain the domestic price and strengthen the financial system stable and competitive, according to the laws of the Central Bank supports the promotion of sustainable growth and prosperity in Iraq, and that the issue of independence of the Central Bank as a central subject of the economic policy of public and how assume its responsibilities defined by law.
He added that under the study of monetary policy of the central banks in the countries of the world, clear set of standards that prevail in specific circumstances, some of the key variables against which specifies that the central bank independent or otherwise, and those standards the amount of time to set the governor and the party that you set or change , the standard the other is the formulation of monetary policy, and the fact that the central bank is responsible for drafting or there is a role for the Ministry of Finance or the ministries and other institutions with a role, and the third criterion is to determine the objectives of monetary policy and the selected bank or the other.
He said the standard the other is the stability of government, since many of the professionals in regard monetary preparing this axis, or the standard critical point, which gave him 50%, if we go back to the other criteria, we find that the standard change the conservative 20% of the set of criteria other While in Iraq is the standard rate of 15% as a contribution to the legislative authority of the Central Bank Board of Directors in the appointment of the Governor.
He pointed out that the percentage of the standard setting monetary policy in Iraq, amounting to 8%, while the actual proportion of 15% and the subordination of the Central Bank of the economic policies of other, as for the standard stability of the government and through which we recognize the strength of the monetary authority, monetary policy and the implementation of procedures in Iraq, amounting 46% of the 50%, while the gross proceeds of 78%, the ratio is high, according to the determinants of monetary policy, especially for the period after 2003, as they were not before that time the lowest elements of monetary policy such as those present.
As each ministry is currently working on its own without coordination with other ministries and relevant authorities in the common areas
http://bit.ly/pBR0MU