Factors of Failure of the Iraqi Banking System in the Implementation of the Decisions of the Basel Committee

Abstract

The role of the banking system is very important and sensitive in any inquisitive system in our modern world, because it is the other side of this economy in exchange for real activities and the great crossroads of the efficiency of the economic system and the legitimacy of its organizations according to the basic objectives of each national economy in any society. Based on this importance above, the importance of applying the banking system to the rules and decisions of the Basel Committee in all its copies (1), which can ensure that the banking system could avoid the risks that can lead to the entry into crises and serious intransigence. This paper seeks to provide a broad presentation of the possibilities of application of the Iraqi banking system to the decisions of the Basel Committee and seeks to provide a presentation of obstacles and factors that led to the failure of the Iraqi banking system to implement the decisions of the Basel Committee in all copies and both internal and external. This paper also seeks to look at the possibility of adapting the banking system in order to comply with the requirements of the implementation of Basel decisions from an economic and financial point of view represented by the views of economists and financial institutions inside and outside this body.