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Today, Tuesday, the Ministry of Finance and the Central Bank announced the formation of a committee to control and supervise the Agricultural Bank, as part of the White Paper.
A statement by the ministry, received by Al-Naba, stated that, "and within the reform steps included 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 low-performing banks."
The statement added, "The Ministry is the sole owner of the Agricultural Bank, and agreed, with prior coordination between the Ministry of Finance and the Central Bank, to proceed with banking reform measures, with the central bank taking over direct supervision and supervision of the Agricultural Bank," noting that "this step was taken with the full knowledge and support of the Ministry of Finance, which is a step. Important 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.
He continued that "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 affirmed that the banking procedures process would continue during the reorganization period and without any delay.
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