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Central Bank Governor: We will soon work on developing a national lending strategy
- Time: 03/20/2023 13:44:26
- Read: 78 times
Governor of the Central Bank of Iraq Ali Al-Alaq:
- Bank lending is an essential pillar in the work of the banking sector
- The Central Bank was a pioneer in stimulating the lending capabilities of the banking sector
- We will soon work on developing a national lending strategy
- We are now in the process of evaluating these initiatives, benefiting from lessons and putting them in the right directions
Our focus in the next phase will be on financing small and medium enterprises
- The banking sector has reached the highest ceiling for lending
- 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
- We have completed the development of a comprehensive plan and a broad strategy for electronic payment
- We will monitor in the field the banking services and the extent to which they comply with the standards
- We will present a project to establish a loan guarantee company
- The banking sector needs more geographical spread, and we commend some banks that have extended to wide networks
Inside Iraq, and we call on other banks to promote this expansion in the country's regions
- Lending related to agriculture, industry and services sectors is still at its lowest levels
- We need to build a national strategy for bank lending led by the central bank
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