Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Central Bank of Iraq is preparing a lending strategy and recommends a plan to attract deposits

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 270664
    Join date : 2012-12-21
    • Post n°1

    The Central Bank of Iraq is preparing a lending strategy and recommends a plan to attract deposits Empty The Central Bank of Iraq is preparing a lending strategy and recommends a plan to attract deposits

    Post by Rocky Mon 20 Mar 2023, 7:38 am

    [size=52]The Central Bank of Iraq is preparing a lending strategy and recommends a plan to attract deposits[/size]
    • Today 14:01




    [You must be registered and logged in to see this link.]
    Information/Baghdad..
    Today, Monday, the Central Bank of Iraq announced the size of the lending amounts within its initiatives for projects, and while confirming that it stimulated the economy in solving the housing problem, it revealed work on preparing a lending strategy.
    The Governor of the Central Bank, Ali Al-Alaq, said in a speech at a conference on activating lending programs in Iraq, “We extend our thanks to the Association of Banks and the US Agency for Development for keeping pace with the banking sector and Attempts to advance it and push it in directions that achieve the desired goals of the Iraqi economy.
    Al-Alaq added, "Bank lending represents the main pillar in the work of the banking sector, whether with regard to its revenues, profits, and operation, or with regard to economic activities in all its forms."
    He pointed out that "the Central Bank was a pioneer in stimulating the lending capabilities of the banking sector, as we launched in 2015 an initiative, perhaps the largest in the history of Iraq, and it was represented by the allocation of 5 trillion dinars for industrial, agricultural and housing projects, as well as a trillion dinars for small and medium projects," noting that "this initiative was able to greatly stimulate the Iraqi economy, whether at the level of some projects or in solving the housing problem by providing lending to the housing sector.
    He pointed out that "the amounts that have been lent so far amounted to about 13 trillion dinars, which is a very large amount," adding, "We are now in the process of evaluating these initiatives, benefiting from lessons, putting them in the right directions, and focusing them on specific goals.”
    He continued, "There will be a great focus in the next phase on financing small and medium enterprises, as well as with regard to projects or loans related to renewable energy in an attempt to contribute to the Central Bank in facing climate challenges and the field." of clean energy." 
    He stressed, "Simulating the banking sector towards enabling it to lend policies should not depend on the central bank, because this role of the central bank is an exceptional role dictated by some circumstances, but the first and foremost is that the banking sector is able By itself to assume and provide lending capabilities by bringing in deposits and through his own financial ability.
    And Al-Alaq continued: “We will soon work on developing a national strategy for lending, and I presented the paper last month when I was outside the central bank, but realizing the importance of bank lending, I presented a paper at a conference at Al-Mustansiriya University on building rules for lending policies or the national strategy for lending.”
    And he indicated that “these are very important and national issues because the issue of lending is not only related to the financial capabilities of banks, but rather is related to the work environment and its regulatory and legal conditions and many factors that fall outside the banking.” system, so the strategy will be shared and presented to the government and other parties to be a matter of their participation in supporting this plan is to provide the necessary decisions and procedures for its success. 
    He added, "We have more than 70 trillion dinars outside the banking system for circulation, and this is a very large amount and represents a high percentage of the gross domestic product, so we must focus in the next stage on finding the necessary means to activate the deposit movement through several procedures in this regard, after we have completed Develop a comprehensive and strategic plan for electronic payment to expand the connection between these funds that lie outside the banking system and their uses, which can be large and wide in the event that these funds are attracted to the banking sector.
    The Governor of the Central Bank called on the banking sector to “be a key partner with the Central Bank in what it will do in terms of providing electronic payment methods on a broad national level,” adding: “Also, among the matters that fall on the banking system in this regard and direction, it is a review of banking services in quantity and quality, because banking services have come a long way despite the short life of some banks, but some of them have reached advanced stages and others still need to upgrade the level of banking services in different types and in the way of presentation.
    He pointed out that "the Central Bank issued a wide circular to the banking sector in this field, and it will be the focus of our attention and field monitoring of banking services and the extent to which they keep pace with the standards and achieve the goals." that we referred to.
    And he stressed that “the sectors in Iraq need stimulation, growth and construction, so focusing on a specific sector should not be the goal and the final result of bank loans, as it happened now. It is still at its lowest levels.” Ended / 25 BC
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Thu 23 May 2024, 10:26 am