Bankers tend to believe that the next stage had to strengthen the banking sector tracks Iraqi government and private to enable it to perform better role in the financing of development projects and reconstruction, and increase the effectiveness of credit, which helps to lending widely for private sector projects are essential.
And stresses of these experts in comments for «weekly» that the government’s responsibility is to encourage these banks by giving them authority to expand the provision of banking services and dismantling of restrictions about to invest their money better, they also believe that the founding banks sector mixed, to which the State and the private sector the heads of big money tends to support investments in the home, through private ownership of flexibility in the work, plus the ability and experience of government and its power make it legal and administrative set up of the banking institution capable of activating the performance of the banking sector in general.
And stresses of these experts in comments for «weekly» that the government’s responsibility is to encourage these banks by giving them authority to expand the provision of banking services and dismantling of restrictions about to invest their money better, they also believe that the founding banks sector mixed, to which the State and the private sector the heads of big money tends to support investments in the home, through private ownership of flexibility in the work, plus the ability and experience of government and its power make it legal and administrative set up of the banking institution capable of activating the performance of the banking sector in general.
The success of some private Iraqi banks, to achieve measurable improvement in the level of production of banking services, pushing for increased effort in this area, especially since the success achieved is in line with the commitment achieved by the sector to international accounting standards in performance and application of regulations, guidance issued by the Central Bank of Iraq , the sector, which oversees these banks.
The Secretary-General of the Federation of Iraqi Chambers of Commerce Abdul Hussein blessed has revealed in recent statements that in the capital projects that Union intends to do by establishing a bank to lend to business processes, but the Banking Act and Central Bank instructions prevented the establishment of this bank in the absence of a banking system is stable in Iraq , which led to the establishment of the Central Bank to raise capital, banks are random, haphazard, from 10 billion dinars, as stated in Article (2) of the Banking Act to 250 billion, forcing the Union to stop the establishment of the bank.
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Eight European Union is moving to establish a body of international commercial arbitration to resolve disputes that may occur between the Iraqi parties and foreign parties before resorting to the courts, which is the safest and shortest way to settle commercial disputes, as well as it helps to lay the base for honest commercial activity in Iraq.
He blessed and that the Iraqi economy during the eight years ago is unknown, it is oriented economy (socialist), or free-market economy? And official statements of officials show that Iraq maintained an toward a market economy, but the official practice on the ground pointing to the other, as the government departments, the official is still sticking to the instructions the old and the dominance of the public sector on trade of the Chairperson, and the simplest example of this by General Automotive Company distributes cars citizens according to the mechanisms of the former regime, and the establishment of the Ministry of Commerce and citizens by forcing companies to display their products in the halls of the General Company for Iraqi Fairs (Baghdad International Fair) and not to allow private sector companies to set up exhibitions in Baghdad outside the halls of this show …
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And other practices of government departments, as signs to the growing role of government institutions and its interference in economic affairs contrary to the trends of market economy.
.
Add this to the Central Bank of the assassination of the private sector and issued a death certificate on the Iraqi Central Bank to raise interest rates to 23 percent, which led to the suspension of activity in the sector, which depends primarily on borrowing from banks to finance its projects, which led to the escape of the private sector out of Iraq and specifically to the neighboring countries, which embraced him and gave him the banking facilities for the establishment of productive projects on their lands and interest rates not exceeding 7 percent, which led to the settlement of the Iraqi capital in these countries and the transfer of investments to it.
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Blessed also explained that the confusion in Iraq was in fiscal policy and monetary policy, led to a decline in the role of the private sector in economic development and thus removed from contributing to the reconstruction as required.
As for the unemployment problem, he said: “required to find a solution, some problems such as restoring electricity to what it was before the Event to run the factories that had stopped by 80 percent, which was operated million workers, almost – this needs to be a political decision – in addition to re-work in supporting petroleum products for laboratories, and the provision of soft loans to the industrial sector to re-run factories, and controls to reduce the import random goods, and the reintroduction of controls standardization and quality control and testing laboratory, and amend existing laws to the investment law has adapted to the circumstances of the stage of the current economic as law of banks and corporate law and tax law, and the Law Customs and Trade Act. He also called blessed to make way for foreign investment, and amending some articles of the Investment Law are easier to obtain an investment license within one month only, and hold officials accountable if they exceed the period to avoid the rampant corruption, and establish a monitoring body, a private resort to foreign investors if the disrupted his treatment in one of the circles, and to facilitate obtaining an investment license by the Commission, issuance of strict instructions to punish any obstruction of the investment and for any reason.
..
And plague economic milieus in Iraq concerns the results of the continued suffering of foreign companies, operating in Iraq, due to non-availability of necessary facilities for the implementation of projects within the country, which prompted the Iraqi businessmen to hesitate in bringing in investors, because of red tape and bureaucracy prevailing in the approach to transactions of investors and companies investment, despite the instructions the relevant authorities, namely the National Commission for Investment, which provides for reducing the distance of time it takes for investment applications, and to the maximum limits … As well as the importance of investment projects and clearly defined the responsibilities of sectors in the adoption of the concerns of investors, and ensure good performance of departments of investment projects as provided by Act No. 31 of 2006 of the advantages of national and foreign investment.
The Secretary-General of the Federation of Iraqi Chambers of Commerce Abdul Hussein blessed has revealed in recent statements that in the capital projects that Union intends to do by establishing a bank to lend to business processes, but the Banking Act and Central Bank instructions prevented the establishment of this bank in the absence of a banking system is stable in Iraq , which led to the establishment of the Central Bank to raise capital, banks are random, haphazard, from 10 billion dinars, as stated in Article (2) of the Banking Act to 250 billion, forcing the Union to stop the establishment of the bank.
.
Eight European Union is moving to establish a body of international commercial arbitration to resolve disputes that may occur between the Iraqi parties and foreign parties before resorting to the courts, which is the safest and shortest way to settle commercial disputes, as well as it helps to lay the base for honest commercial activity in Iraq.
He blessed and that the Iraqi economy during the eight years ago is unknown, it is oriented economy (socialist), or free-market economy? And official statements of officials show that Iraq maintained an toward a market economy, but the official practice on the ground pointing to the other, as the government departments, the official is still sticking to the instructions the old and the dominance of the public sector on trade of the Chairperson, and the simplest example of this by General Automotive Company distributes cars citizens according to the mechanisms of the former regime, and the establishment of the Ministry of Commerce and citizens by forcing companies to display their products in the halls of the General Company for Iraqi Fairs (Baghdad International Fair) and not to allow private sector companies to set up exhibitions in Baghdad outside the halls of this show …
.
And other practices of government departments, as signs to the growing role of government institutions and its interference in economic affairs contrary to the trends of market economy.
.
Add this to the Central Bank of the assassination of the private sector and issued a death certificate on the Iraqi Central Bank to raise interest rates to 23 percent, which led to the suspension of activity in the sector, which depends primarily on borrowing from banks to finance its projects, which led to the escape of the private sector out of Iraq and specifically to the neighboring countries, which embraced him and gave him the banking facilities for the establishment of productive projects on their lands and interest rates not exceeding 7 percent, which led to the settlement of the Iraqi capital in these countries and the transfer of investments to it.
.
Blessed also explained that the confusion in Iraq was in fiscal policy and monetary policy, led to a decline in the role of the private sector in economic development and thus removed from contributing to the reconstruction as required.
As for the unemployment problem, he said: “required to find a solution, some problems such as restoring electricity to what it was before the Event to run the factories that had stopped by 80 percent, which was operated million workers, almost – this needs to be a political decision – in addition to re-work in supporting petroleum products for laboratories, and the provision of soft loans to the industrial sector to re-run factories, and controls to reduce the import random goods, and the reintroduction of controls standardization and quality control and testing laboratory, and amend existing laws to the investment law has adapted to the circumstances of the stage of the current economic as law of banks and corporate law and tax law, and the Law Customs and Trade Act. He also called blessed to make way for foreign investment, and amending some articles of the Investment Law are easier to obtain an investment license within one month only, and hold officials accountable if they exceed the period to avoid the rampant corruption, and establish a monitoring body, a private resort to foreign investors if the disrupted his treatment in one of the circles, and to facilitate obtaining an investment license by the Commission, issuance of strict instructions to punish any obstruction of the investment and for any reason.
..
And plague economic milieus in Iraq concerns the results of the continued suffering of foreign companies, operating in Iraq, due to non-availability of necessary facilities for the implementation of projects within the country, which prompted the Iraqi businessmen to hesitate in bringing in investors, because of red tape and bureaucracy prevailing in the approach to transactions of investors and companies investment, despite the instructions the relevant authorities, namely the National Commission for Investment, which provides for reducing the distance of time it takes for investment applications, and to the maximum limits … As well as the importance of investment projects and clearly defined the responsibilities of sectors in the adoption of the concerns of investors, and ensure good performance of departments of investment projects as provided by Act No. 31 of 2006 of the advantages of national and foreign investment.
Here highlights the role of the private sector in the development process so that the most important advancement of economic data lies in the activation of this role, particularly in the field of industrial production moved away from long time ago, and became stalled laboratories representing 90 percent of the total domestic industries. The reasons are clear to all and is the inability of the local product to compete with imported foreign goods that arrive and offer low prices, has encouraged citizens to acquire knowledge, although not quality and that it entered into the local market without being subject to standardization and quality control.
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Also, the industrial sector of Iraq’s needs to support integrated government legislation in the form of material support or help to accelerate the wheel of production, so that local products are many of interest to citizens. The industry can not advance in the light of the current reality for the market in Iraq, and must only be taken on the recommendations of economists and experts in this regard, and to translate these recommendations into legislation or processors legal protection for our communities.
.
All of this requires the government shift to the private sector and involvement in decisions affecting the sector, especially as we in the midst of transition towards a market economy.
.
Advancement of the ingredients available in most industrial projects stalled, where manpower and experience the outstanding help in the return of production to the various local industries, as well as a raw material for many industries within the country which is one of the most important ingredients for success.
And skilled hands, the country has the manpower in various fields, but most are trained and qualified to deal with modern technologies, which requires the sessions are continuing in specialized centers, to raise the efficiency of the unemployed in their professions and other occupations, and avoid the obstacle, which may disrupt the functioning of production .
.
Also, the industrial sector of Iraq’s needs to support integrated government legislation in the form of material support or help to accelerate the wheel of production, so that local products are many of interest to citizens. The industry can not advance in the light of the current reality for the market in Iraq, and must only be taken on the recommendations of economists and experts in this regard, and to translate these recommendations into legislation or processors legal protection for our communities.
.
All of this requires the government shift to the private sector and involvement in decisions affecting the sector, especially as we in the midst of transition towards a market economy.
.
Advancement of the ingredients available in most industrial projects stalled, where manpower and experience the outstanding help in the return of production to the various local industries, as well as a raw material for many industries within the country which is one of the most important ingredients for success.
And skilled hands, the country has the manpower in various fields, but most are trained and qualified to deal with modern technologies, which requires the sessions are continuing in specialized centers, to raise the efficiency of the unemployed in their professions and other occupations, and avoid the obstacle, which may disrupt the functioning of production .
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