16:42 - 2023-01-15
Today, Sunday, the Central Bank of Iraq clarified its procedures for monitoring the performance of private banks and improving their work, while noting that only banks that are able to perform their functions remain in the banking sector.
The bank's advisor, Ihsan al-Yasiri, said, "The Central Bank of Iraq began three years ago with procedures to complete reform procedures in the banking sector," pointing out that "the private banking sector is one of the promising sectors in Iraq, as the central bank attaches great importance to it, similar to the government banking sector." .
Al-Yasiri added, "The Central Bank does not distinguish between the private and public sectors, but the private banking sector is one of the engines of development in Iraq, in addition to the government sector," noting that "
He pointed out that "some banks suffer from a group of problems, and the Central Bank, in turn, is currently taking several measures for the purpose of enabling them to stabilize and reassure the public of their performance," stressing that "there are other banks that are doing well and playing excellent roles."
He pointed out that "the Central Bank, due to its confidence in some private banks, has initiated measures to encourage foreign banks and foreign central banks for the purpose of opening financial corridors for them, to enable them to practice money transfers for foreign trade purposes."
He stressed that "the central bank usually supports every bank that tries to improve performance and services provided to the public, as a result, the private banking sector is an important part of the Iraqi banking sector, and the central bank attaches great importance to it and encourages it to improve performance."
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He continued, "The private banking sector and initiative funds are currently financing the development of projects, the establishment of new projects, and the employment of the unemployed," stressing that "some banks are trying to reach satisfactory levels."
He noted that "the Central Bank is currently monitoring the performance of some banks and supervising their performance, and there is nothing left in the banking sector except for good banks that are able to perform their functions."
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