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Al-Alaq is discussing with the World Bank his plan to establish a loan guarantee company
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Economy News - Baghdad
On Thursday, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation of experts from the International Finance Corporation (IFC) of the World Bank, headed by the supervisor of financial market projects in the Levant region, Marcel Rashid.
According to a statement by the Central Bank, the two parties discussed "ways to develop the relationship between the Central Bank of Iraq and the International Finance Corporation, and to develop a plan to establish a (loan guarantee company), which was proposed by the governor earlier as part of a comprehensive study he presented regarding building national strategic bases for bank lending, while the bank staff is responsible for Building the national strategy for lending in accordance with its rules.
The statement continued, "The establishment of a loan guarantee company is an important factor in stimulating lending, by reducing the rates of loan defaults that the banking sector in Iraq suffers from."
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Added 05/11/2023 - 10:41 PM
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Economy News - Baghdad
On Thursday, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation of experts from the International Finance Corporation (IFC) of the World Bank, headed by the supervisor of financial market projects in the Levant region, Marcel Rashid.
According to a statement by the Central Bank, the two parties discussed "ways to develop the relationship between the Central Bank of Iraq and the International Finance Corporation, and to develop a plan to establish a (loan guarantee company), which was proposed by the governor earlier as part of a comprehensive study he presented regarding building national strategic bases for bank lending, while the bank staff is responsible for Building the national strategy for lending in accordance with its rules.
The statement continued, "The establishment of a loan guarantee company is an important factor in stimulating lending, by reducing the rates of loan defaults that the banking sector in Iraq suffers from."
Views 371
Added 05/11/2023 - 10:41 PM
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