Posted by on April 26, 2018 3:17 am
Categories: Column 3

26/4/2018 12:10 am

Baghdad / Al-Sabah

The start of the financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure from where the world ended, andpromote the national economy through interaction with all Segments of society without exception to be the results in favor of the national economy through the positive interaction between the banking system and the citizen
 The activities of the week of inclusiveness have been launched for seven days, targeting all segments of society and in different places and sectors. This interest stems from the important positive role of financial coverage in the reality of the national economy. 

Financial services

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Salehpraised the step and promised the task and promote the Iraqi financial sector and said: “As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments of society, a renaissance led by the government and the Central Bank together to make the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. “ 
“Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today,” he said, adding that “the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. “ 
“Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era,” Saleh said. Banking Education 
Director General of Payments at the Central Bank of Iraq, Souha Abdul Karim, has shown “the Central Bank’s efforts to develop the financial and banking sector through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society,” noting that“In this framework Comes attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the education of banking services, especially for women, as well as to the segment of students, whether schools or universities, which are considered effective tools for the dissemination of culture and combating banking illiteracy. Mainstream products 
Executive Director of the Association of Iraqi Private Banks Ali Tariq said: “The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector.”
Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties.
“Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy.Electronic payment 
He added that “the Central Bank and the Association of Private Banks directly supervise the organization of the week of financial inclusion, which was launched in conjunction with the Arab countries,” noting that “Iraq wants to increase the number of customers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public of loans and payment electronic And others. “ 
Tarek pointed out that “the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that they deem appropriate from universities
And commercial centers and others, “noting that” the banks will during the week of financial inclusion to open bank accounts and the granting of credit cards And others. “ Development Agenda 
International Financial Inclusion Expert Sadiq al-Shammari stressed that “it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. “
International statistics for 2014 show that nearly one billion of the world’s adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular.
“The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage,” he said.

Direct effect 
Director of relations of the South Islamic Bank Gamal Shaker al-Rubaie that “the speed in the changes and technological competition puts the media at the forefront of direct influence on public opinion because the role of the media is to create cultural awareness and a general direction in the community.”
“Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. “
He stressed that “financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards.

Short loans 
“Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity,” said Haidar Kazem al-Baghdadi.
“Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. “ 

Economic life 
In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari.Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion. 
The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community aboutfinancial inclusion and its role in achieving development for all segments of society and in all cities and towns.

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