| 2007: Iraq intends to automate its general banking sector |
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May 6, 2007 He pointed out to the establishment of special training centers of the sector, in addition to external courses and preparation of studies to evaluate the annual performance, using research centers and specialists. He stressed that human resource development is a human long-term investment, leading to upgrade the performance of the banking sector, in addition to the importance of opening branches and offices to provide better banking services for the citizen, in all available areas, pointing out that “Rafidain” (founded in 1941) in about to implement a comprehensive process of development, includes linking all its branches with new techniques that enhance its competitiveness with foreign banks which are expected to open branches in Iraq. He explained that the role of the banking sector in economic development lies in its ability to mobilize savings and invest them in economic sectors, expanding monetary credit and long-term finance to projects serving the overall development; he added that the investment in this area is the most important factor in the development of the stock market. He pointed to the success of the Central Bank in raising the price of the dinar against the dollar, pointing out that the prices of goods and services remains high, which are reflected negatively on the cost of production. |