Prof. Dr. Munir Hamid al-Saadi, rector of the University of Baghdad has participated lately in the proceedings of the first annual international scientific conference held under the slogan “Reforming the insurance sector in Iraq: the challenges at present and opportunities for future”, accompanied by the dean of the institute of accounting and financial studies, Prof. Dr. Fayha Yacob, and in the presence of His Excellency the Iraqi minister of finance Dr. Ali Abdul Amir Allawi. The conference was sponsored by the Financial and Accounting Training Center of the ministry of finance and held at Nahrain University.
The conference included the presentation of several research papers that highlighted the role of risk selection in determining insurance prices, the reality of the insurance sector in the country, the guarantee of bank deposits in Iraq and ways to develop, as well as the financial reporting standard No. 17 for insurance contracts for the sake of reducing the comparison gap between the insurance sector and other sectors, in addition to the factors affecting the profitability of companies is an applied study in public insurance companies in Iraq. Then the researchers addressed the topic of the supplementary health insurance for health insurance, analysis of insurance risks and their impact on enhancing credit classification of the insurance company and the sales contract on the basis of cost, insurance, and freight (CIF) and its reflection on the size of the marine insurance premiums (goods). The working papers participating in the conference have all agreed upon the development of the insurance sector, with a clear and deep vision of the sector based on a sound methodology for reform in this economic sector. For his part, the rector Dr. Munir al-Saadi, during a special statement to the university’s news center, called for developing the legislative environment of the insurance sector in Iraq in a modern way in accordance with the best practices across the world in this regard.
It is noteworthy that the conference witnessed in its first day the discussion of seven scientific researches with the participation of experts and scholars from outside Iraq, to come up with a set of recommendations that contribute to the reform of our insurance sector. The conference was attended by the acientific agent of the ministry of higher education and scientific research Dr. Yassin al-Eithawi, and advisors to Prime Minister Dr. Muzher Mohammed Saleh and Dr. Alaa al-Saa’di, as well as Deputy Governor of the Central Bank of Iraq Ihsan al-Yasiri, as well as the head of the Insurance Office Israa Saleh Dawood, the Director General of the Financial and Accounting Training Center Dr. Ahmed al-Dahlaki, as well as a number of general managers at the ministries of finance and higher education, as well as a number of assistant rectors, deans of colleges and experts. The conference was held in cooperation with the Insurance Diwan, the National Insurance Company, the Iraqi Insurance Company and the Iraqi Reinsurance Company, in addition to the college of administration and economics at al-Mustansiriyah University and the college of business economics at Nahrain University.
