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[size=36]Finance clarifies the details of the supervision of the joint committee with the Central Bank of the Agricultural Bank[/size]
Political| 03:07 - 16/03/2021
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BAGHDAD - Mawazine News The
Ministry of Finance clarified, on Tuesday, the details of the joint committee's supervision with the Central Bank over the Agricultural Bank.
The ministry stated in a statement that Mawazine News received a copy of, that “among the reform steps contained in the white paper, which stipulated that the Central Bank can effectively supervise and regulate the banking sector, including the power to merge and enforce the low-performing banks, the Ministry of Finance agreed today, Tuesday. 3/16/2021, the sole owner of the Agricultural Bank, with prior coordination between the Ministry of Finance and the Central Bank to proceed with banking reform measures, with the Central Bank assuming direct supervision and supervision of the Agricultural Bank.
"This step was taken with the full knowledge and support of the Ministry of Finance, and it is an important step in the process of restructuring and reforming the Agricultural Bank to allow it to play its role in developing the economy, especially the agricultural sector," the statement added.
He explained: "The supervisory committee will be a joint committee between the cadres of the Ministry of Finance and the Central Bank of Iraq, fully represented in the committee that supervises the process of reorganizing the Agricultural Bank."
The Ministry of Finance assured the customers and employees of the Agricultural Bank that the "banking procedures will continue during the reorganization period and without any delay."
Ministry of Finance clarified, on Tuesday, the details of the joint committee's supervision with the Central Bank over the Agricultural Bank.
The ministry stated in a statement that Mawazine News received a copy of, that “among the reform steps contained in the white paper, which stipulated that the Central Bank can effectively supervise and regulate the banking sector, including the power to merge and enforce the low-performing banks, the Ministry of Finance agreed today, Tuesday. 3/16/2021, the sole owner of the Agricultural Bank, with prior coordination between the Ministry of Finance and the Central Bank to proceed with banking reform measures, with the Central Bank assuming direct supervision and supervision of the Agricultural Bank.
"This step was taken with the full knowledge and support of the Ministry of Finance, and it is an important step in the process of restructuring and reforming the Agricultural Bank to allow it to play its role in developing the economy, especially the agricultural sector," the statement added.
He explained: "The supervisory committee will be a joint committee between the cadres of the Ministry of Finance and the Central Bank of Iraq, fully represented in the committee that supervises the process of reorganizing the Agricultural Bank."
The Ministry of Finance assured the customers and employees of the Agricultural Bank that the "banking procedures will continue during the reorganization period and without any delay."
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