the financial sector
21/1/2018 12:00 am
When talking about the financial sector, you have the image of the three components and knowledge in economics as banks, the stock exchange, and insurance.
In the first assessment of the financial sector "banks", they have moved in a single step towards development after the decline witnessed by the financial sector as a whole, inspired by global experiences the best means of development in order to catch up with what started the world.
However, its movement is still limited, as banks have the technical qualifications to acquire new technologies and technologies that enable them to play their role in achieving development.
The banks now need to invest these technologies in the provision of products and services that contribute to the promotion of development programs and reduce the decline and make bold attempts to actual banking trends,
and banks are now immune to their compliance with international standards and legislation that can be implemented with the availability of new technology and technologies,
We need legislation to reduce potential mistakes in order to provide guaranteed banking facilities and products Success.
As for the second chapter of the financial sector, it is the main engine of the banking and insurance hubs.
It has achieved remarkable breakthroughs in the possession of modern systems due to its rational management ability in dealing with the development.
However, it depends mainly on the performance and efficiency of the two aforementioned joints.
Perhaps one of the most important indicators of the new development is that the bourse will trade the national and sovereign bonds after the Central Bank allowed them to trade through the bourse, where the Iraqi market for securities depends on the circulation of shares, thus expanding the role of the stock market in economic growth.
Thus, the detailed picture of the banks and the stock exchange has been completed.
The third chapter, which is no less important than the joints, is the "insurance".
It is strange that it is completely absent in most of the forums, seminars and economic workshops, despite its importance.
This may be due to the lack of development of this sector, which declined after it was one of the most active tools in the financial sector because of the wars and events that have passed in the country, which lost public confidence and non-dealing with him because of the losses suffered at those stages.
Now that we are in the stage of construction and challenge, we must return the insurance detail strongly to play its important role in development because it is one of the most important requirements for attracting international and domestic investment as well.
A sincere call for attention to the insurance chapter in the workshops and forums of the economy; and the public and private insurance companies to promote the organization of the introduction of a new role.
Thus, we understand the importance and impact of the financial sector as a whole in achieving development.
Will we pay attention to its three components with one package?
Yes, we need an engagement involving the three parties in the financial sector.