The Financial Liberation and Reformation in Iraq with Reference to Egyptian Experiment

Al-Shakarji, Dr.Bashar; Ali, Oday; AL-Noa,imee, Zahraa

doi:10.33899/tanra.2008.161747

	The Financial Liberation and Reformation in Iraq with Reference to Egyptian Experiment
TANMIYAT AL-RAFIDAIN
Article 10, Volume 30, Issue 91, 2008, Pages 177-201 PDF (877.77 K)
Document Type: Research Paper
DOI: 10.33899/tanra.2008.161747
Authors
Dr.Bashar Al-Shakarji; Oday Ali; Zahraa AL-Noa,imee
Abstract
ABSTRACT The financial sector in the growing countries generally includes the financial market liberation which is distorted by the financial restriction, the removal of the restraints on the capital, the circulation of foreign currency and interest rates, the decrease of joining barriers in the banking sector, the use of new means and privatization of banks and the introduction of changes on the ownership frameworks. All these are done in return for achieving several benefits. The subject of financial liberation has been of interest by the Arab countries during the last decades, in spite of the difference of their economical frameworks, because of the important role of financial sector in the reinforcing the economical increase. Iraq has followed the rapid method in the financial liberation in the absence of its support, which is represented by the economical stability and the financial reformation. However, Egypt has followed the gradual method in the reformation. The success of latter method is approved in spite of the increase of social cost which was about the collapse, defiantly in the last years. The study concluded that the financial liberation experiment is not able to achieve its looking for aims in Iraq only if the fitting environment which is manifested by this economic stability and the financial reformation exist and suitable timing to begin with the liberation steps according to the gradual method is chosen. .
Keywords
Financial Liberation; Reformation

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