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Association of Banks: The banking sector has achieved a wide spread at the level of services
Economical 2023/05/10
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The Association of Private Banks indicated a wide spread of the banking sector at the level of opening bank accounts and banking services, noting that financial inclusion contributes significantly to improving the economic and social situation of individuals and societies.
The activities of the Financial Inclusion Week were recently concluded in the governorates of Baghdad, Basra, Erbil, Sulaymaniyah, Kirkuk, Maysan, Babil and Nineveh, and targeted commercial centers, businessmen, students, entrepreneurs and others, as citizens were able to open bank accounts and benefit from the services provided by banks with regard to electronic cards, loans and money transfers. , and others.
The Financial Inclusion Week is held in all Arab countries in coordination with the Arab Monetary Fund, and aims to raise awareness of the importance of the banking sector.
Financial inclusion is the provision of financial services to all without exception, including the poor and marginalized groups, and this includes bank accounts, insurance, loans and other services. Financial inclusion aims to promote economic development and improve the country's economic climate.
Ali Tariq, Executive Director of the Association of Private Banks, said that the Financial Inclusion Week is an annual event that takes place in many countries around the world, and has many positive effects on societies, including promoting economic and social development, improving the standard of living for individuals and societies, increasing employment opportunities and improving the situation. economy for poor families and groups.
He drew attention to promoting investment and economic development of countries, improving financial governance and contributing to reducing financial corruption, improving access to financial services and insurance for the neediest groups, such as the poor and marginalized groups, women and youth, and enhancing financial and economic stability for individuals and societies.
He stressed that it can be said that financial inclusion contributes significantly to improving the economic and social condition of individuals and societies.
For his part, the banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, stated that, in light of the program prepared by the Association of Banks, the activities of the Arab Financial Inclusion Week were launched in conjunction with its launch in all Arab countries, including Iraq, indicating that the Iraqi banking sector has achieved a wide spread on The level of opening bank accounts and the spread of banking services.
He added that the celebration of financial inclusion included the holding of festivals and events to spread the banking culture, and during this year the financial inclusion strategy will be launched, whose features began in 2016, and many of them have been achieved at the level of achievements in the matter of spreading the banking culture, as the World Bank reports indicate that Iraq has made a leap in Financial inclusion increased from 11% to 33.5%, which is a good percentage compared to regional countries that practice the same activity. We hope that these activities will continue with great success according to the program prepared for them.
The Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hassan Nima, said: The university used to hold this event annually due to the existence of partnership relations with the Association of Iraqi Private Banks and the Central Bank of Iraq.
She noted that this day represents an important thing to learn about the distinguished services provided by banks, electronic payment companies and project financing companies, and how to pave the way for students after their graduation to work in banking institutions.
The Director of Relations of the Islamic World Bank, Omar Al-Agha, explained that, according to the directives of the Central Bank of Iraq and with great support from the Association of Iraqi Private Banks, we have established financial inclusion activities to introduce all members of society to the work of the bank by offering them the various services provided to them.
And he indicated that in the last five years, financial inclusion began to mature in Iraq through the citizen's understanding and awareness of banking services and how to use electronic payment tools.
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