Banking expert Basel banking standards should apply in Iraq to improve performance and adopt international standards

Posted: November 4, 2013 in Iraqi Dinar/Politics
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Expert: application of the Basel standards rise the performance of the Iraqi banks

11/04/2013 12:00 AM

Baghdad – Mostafa Hashemi
counting expert bank standards Basel banking in Iraq from the good things that drive to achieve stability through the creation of fair competition between government and private banks through the services provided by these banks to citizens.

And said banking expert Samir النصيري to apply the terms of the Basel in Iraq between the central bank and other banks would improve the performance of banks, indicating the importance of the application of Basel standards across the follow-up developments taking place on the subject of Basel standards (2 and 3) in order to prepare for its implementation and adoption of international standards with regard to capital adequacy rate and liquidity ratio.

added النصيري told ( morning) that work on the follow-up application of the principles of Basel’s main operational risk management ensures that the risks associated with all types of products, activities, processes and systems adopted by the banks.

pointed to the need to provide a base of information flowing in the bank, which play an important and key role in establishing and maintaining a framework effective management of operational risk. In addition to follow-up the extent of owning banks an effective system for identifying, measuring and monitoring operational risk as part of risk management.

stressing that the banks do disclose risks to participants in the financial market and banking evaluate their exposure to operational risk and the quality of their management of operational risk.

aims of the Basel Committee to help strengthen stability the global banking system, especially after the worsening crisis of external indebtedness of developing countries, and remove an important source of competition is fair between banks arising from differences in the requirements of national controls on bank capital, in addition to working to find mechanisms to adapt to changes global banking and foremost financial globalization which stems of financial liberalization and market liberalization cash from banks, including legislation, regulations and constraints that limit the widening and deepening of the banking activity of banks across the world in the light of the technological revolution. The committee aims to improve techniques for the control of banks and to facilitate the circulation of information about those methods between the monetary authorities different.

, founded the Basel Committee on Banking Supervision, under the name of (Commission banking systems and practices SFC), the initiative of the central bank governors of the Group of ten major end In 1974, under the supervision of Bank for International Settlements in Basel, Switzerland, was limited to members of officials from the bodies of banking supervision and central bank governors of those states (which became 13 states), represented in Belgium, Canada, France, Germany, Italy, Japan, Netherlands , Switzerland, Sweden, Britain, Spain, Luxembourg and the United States of America (OECD).


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