Mokhtassan: transparency, the need for the advancement of the banking business and reduce corruption
19/06/2013 12:00 AM
A proposal to integrate the private sector banks
BAGHDAD - Hussein ثغب Tamimi person Mokhtassan in the banking sector challenges facing the development of local banks, which represent the backbone of economic development, where the regulated flow of capital trends drawn investors and employers, but it requires more advanced systems that draw paths banking business in the country, the center of a new proposal for the integration of the private sector banks. competent academic rapid changes in the banking affairs d. Sadeq Al Shammari said: there are challenges facing banks and financial institutions in Iraq as a result rapid changes in technology, information and financial crises, pointing out that, despite the considerable efforts made by the Monetary Authority and the Ministry of Finance to support the banking sector in Iraq are still these banks face significant challenges because of the circumstances experienced by the the country as well as the need to staff the banking qualification has and development of the banking business and the use of modern technology as a network communications and information systems and the Internet. overcome difficulties and pointed to the importance of the adoption of methods of control and disclosure of financial and accounting for the financial statements and that these factors can be considered the challenges in front of Iraqi banks, which is working hard in collaboration with the central bank to overcome.regulations guidance urged Shammari on the importance of compliance with regulations and rules, which represent a work of banks and the basis of its activity, and should be adhered controls governance and good governance and mechanisms as evidence of the work of financial reform, institutional and spared the operations of corruption. corrective action and pointed to limit some of the problems and constraints faced by financial and banking institutions in Iraq after studying the reality in which they operate in the weak and limited interest in the mechanisms of internal governance and external by the supervisory authorities and regulators for the purpose of forcing banks and financial institutions to take corrective action and limited or absence of special units of the stress tests that are part of the culture of governance, as well as the lack of specialized units in the financial and banking institutions Iraqi take on the responsibility of monitoring and implementation of the rules and legal regulations within the organizational structures through lack of assessments of measures internal and external audit. culture of governance and the existence of weakness and limited interest in studying the culture of governance and mechanisms of internal and external analysis of types and forms and to study their impact performance in the banking and address the risks of any lack of focus on governance in the resolution credit as well as lack of awareness of governance and mechanisms of the financial and banking institutions and its importance, and pointed to the absence of dimension strategic administrations banking on the role of these mechanisms in the banking performance and mitigate risks and to avoid crises and collapses deficiencies of financial incentives and administrative management Supreme in order to achieve work properly and effectively. moral values and said that the existence of methods of financial compensation and administrative consistent with the moral values of the bank and its goals and ستراتيجيته and banking environment to work towards the benefit of the bank rather than to achieve the benefits of real-time, in addition to lack of controls and mechanisms to control the structure and installation of boards of directors and their responsibilities and their powers In addition to weak controls and mechanisms that govern the issues of disclosure and transparency and the rights of the minority (shareholders) in addition to the internal control to ensure the functions of internal and external audit and independent administration of risk. relationship with shareholders and said we can identify some indicators through some of the special mechanisms of governance, whether internal or external, which contribute to the proper application and precise rules and regulations that govern the relationship between shareholders and managers, creditors and other stakeholders from the perspective of the fields and responsibilities and that the proper application of the mechanisms of governance necessarily ensure sound management and stable banks and avoid the negative effects of mismanagement technical, moral and divided into governance mechanisms internal governance mechanisms external. new system of banking expert Smiralnasiri pointed to the need to prepare a new system to ensure control over the companies and financial institutions outside banks that deal transfers of State for the protection of the interests of citizens and anti-money laundering operations. encourage loans and stressed the importance of encouraging banks to make loans in order to invest their money and reduce the risks they face and overcome limits the purposes specified a certain percentage to the bank's capital and reserves set out in the law of the CBI. banking branch and called to encourage banks to open more branches and offices banking in various provinces to increase density banking accordance with the conditions specified by the CBI with the provisions of censorship on the performance banks through follow-up field and office of its activity by the monetary authority and note the abuses taking place in the instructions banking and processed first Powell. large units and pointed out the importance of developing a future plan to achieve mergers between private banks to set up banking units large can occupy space is important to work the local banking. As the importance of obliging all banks apply the capital adequacy ratio according to Basel Committee (3) According to the announcement issued by the Committee at the end of the year 2010. , as well as the establishment of the Institute (for training, consultancy and research banking) contribute to government banks own in the membership of its board of directors that plays a role in the development of human cadres banking and building a sound base for the development and modernization and deployment of banking culture. |
No comments:
Post a Comment