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The best banking personal relations in the Arab world (Mr. Mohsen Al-Alaq, Governor of the Central Bank)
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Sources of the Union of Arab Banks, which are currently preparing for the convening of the Arab International Banking Summit in Paris, chose Mr. Mohsen Al-Alaq, Governor of the Central Bank of Iraq, the best conservative Arab. He will be honored with a special celebration on the sidelines of the conference which will be held for the period 28-29 June in Paris, the French capital and under the patronage of the President of the French Republic and in the presence of ministers and governors of central banks and heads of boards of Arab, French and European banks. This honor is in fact a tribute to the Central Bank of Iraq and cadres, whose role was distinct in supporting the national economy in the near difficult circumstances experienced by Iraq during the past three years.
Through prudent efforts and measures and the applications of monetary policy and development measures of the Central Bank in the difficult economic stage of Iraq, where they were able to draw a strategy for the years (2016-2020) and a clear road map goals and ambitions in achieving economic stability and stimulate fiscal growth and enhance financial coverage and structural and institutional construction and investment The human capital through the achievements of the task achieved during the years (2015-2017) and continues to be the most prominent: maintain the inflation rate of not more than 2% and the level of adequacy of foreign reserves within acceptable rates according to the latest standard IMF (imf) 0 by 160%, which is considered an international high adequacy ratio, where the foreign reserves of Iraq amounted to 52 billion dollars. And to stimulate the banking sector, regulatory, supervisory and supervisory, and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the Money Laundering Law 39 for the year 2015 and the development of payment systems and the application of all payments by retail and mobile and the establishment of the national division and work on the application of international standards in Financial reports in line with the principle of transparency and disclosure In addition to the efforts of the bank, which is committed daily to stimulate financial inclusion and focus on the initiative to settle the salaries of employees for the purpose of raising the proportion of coverage For the population with no accounts in the banking system, which actually increased from 11% to 22% based on the World Bank Bulletin. In order to restore confidence in the banking sector, the Bank re-evaluated and classified banks according to international standards and standards in evaluating business results and measuring the efficiency of performance. With a view to raising the savings rate To reduce the percentage of housekeeping and restore confidence in the banking sector and thus stimulate the economy through the activation of investment and bank financing initiative to finance small and medium projects and supervision and leadership of community initiatives funded by Iraqi banks such as project Baghdad and support the Iraqi Drama Fund and the establishment of two companies for national funding of large projects and the establishment of a fund for social benefits And taking the regulatory and structural measures and the establishment of the depository center in the Iraqi market for securities and the establishment of a national credit center. And the Iraqi Payments Board. At the level of international banking relations, the Central Bank and the exceptional efforts of the Governor and his team have succeeded in restoring relations with Arab and foreign central banks and delivering the achievements of the past three years to the international financial institutions such as the Financial Action Organization, which contributed to the transition of Iraq classification from gray to follow-up. The Governor in 2017 to the Security Council and presented the achievements and organizational and structural development and technical compliance with international standards in financial reporting and enhance confidence in the Iraqi economy and Iraq's ability to Commitment to international credit benefits and accolades of the World Bank and the International Monetary Fund and the Financial Action Task Force have had a clear impact in strengthening economic resilience and financial victory and move steadily towards financial sustainability.
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[You must be registered and logged in to see this image.]
Sources of the Union of Arab Banks, which are currently preparing for the convening of the Arab International Banking Summit in Paris, chose Mr. Mohsen Al-Alaq, Governor of the Central Bank of Iraq, the best conservative Arab. He will be honored with a special celebration on the sidelines of the conference which will be held for the period 28-29 June in Paris, the French capital and under the patronage of the President of the French Republic and in the presence of ministers and governors of central banks and heads of boards of Arab, French and European banks. This honor is in fact a tribute to the Central Bank of Iraq and cadres, whose role was distinct in supporting the national economy in the near difficult circumstances experienced by Iraq during the past three years.
Through prudent efforts and measures and the applications of monetary policy and development measures of the Central Bank in the difficult economic stage of Iraq, where they were able to draw a strategy for the years (2016-2020) and a clear road map goals and ambitions in achieving economic stability and stimulate fiscal growth and enhance financial coverage and structural and institutional construction and investment The human capital through the achievements of the task achieved during the years (2015-2017) and continues to be the most prominent: maintain the inflation rate of not more than 2% and the level of adequacy of foreign reserves within acceptable rates according to the latest standard IMF (imf) 0 by 160%, which is considered an international high adequacy ratio, where the foreign reserves of Iraq amounted to 52 billion dollars. And to stimulate the banking sector, regulatory, supervisory and supervisory, and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the Money Laundering Law 39 for the year 2015 and the development of payment systems and the application of all payments by retail and mobile and the establishment of the national division and work on the application of international standards in Financial reports in line with the principle of transparency and disclosure In addition to the efforts of the bank, which is committed daily to stimulate financial inclusion and focus on the initiative to settle the salaries of employees for the purpose of raising the proportion of coverage For the population with no accounts in the banking system, which actually increased from 11% to 22% based on the World Bank Bulletin. In order to restore confidence in the banking sector, the Bank re-evaluated and classified banks according to international standards and standards in evaluating business results and measuring the efficiency of performance. With a view to raising the savings rate To reduce the percentage of housekeeping and restore confidence in the banking sector and thus stimulate the economy through the activation of investment and bank financing initiative to finance small and medium projects and supervision and leadership of community initiatives funded by Iraqi banks such as project Baghdad and support the Iraqi Drama Fund and the establishment of two companies for national funding of large projects and the establishment of a fund for social benefits And taking the regulatory and structural measures and the establishment of the depository center in the Iraqi market for securities and the establishment of a national credit center. And the Iraqi Payments Board. At the level of international banking relations, the Central Bank and the exceptional efforts of the Governor and his team have succeeded in restoring relations with Arab and foreign central banks and delivering the achievements of the past three years to the international financial institutions such as the Financial Action Organization, which contributed to the transition of Iraq classification from gray to follow-up. The Governor in 2017 to the Security Council and presented the achievements and organizational and structural development and technical compliance with international standards in financial reporting and enhance confidence in the Iraqi economy and Iraq's ability to Commitment to international credit benefits and accolades of the World Bank and the International Monetary Fund and the Financial Action Task Force have had a clear impact in strengthening economic resilience and financial victory and move steadily towards financial sustainability.
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