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The World Bank: The establishment of the Central Bank of Iraq as a private bank for very small projects is a "good step"
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Economy News - Baghdad
Director of the Finance Department in Eastern Countries at the World Bank Group, Iran Astrakhan:
- The Central Bank's establishment of a private bank for very small projects is a good step
- Such a bank was established in Europe and many countries
- A complex problem in lending and there is no magic solution
- Reforming the Iraqi banking sector means that there will be fair competition for private banks with government banks, and for the citizen to choose the appropriate service for him
- There is a review of the quality of government banks, and we do not expect government banks to disappear and their role, but rather to restructure them and work with private banks
- There is a lack of trust between the banking sector and the people, and there is a good incentive to pay employees' salaries by opening bank accounts
Financial inclusion is one of our projects
- We are working with the Central Bank to prepare a strategy for financial inclusion, and during this visit we have some projects with the private sector and the government
Views 84
Added 05/28/2023 - 10:29 AM
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Economy News - Baghdad
Director of the Finance Department in Eastern Countries at the World Bank Group, Iran Astrakhan:
- The Central Bank's establishment of a private bank for very small projects is a good step
- Such a bank was established in Europe and many countries
- A complex problem in lending and there is no magic solution
- Reforming the Iraqi banking sector means that there will be fair competition for private banks with government banks, and for the citizen to choose the appropriate service for him
- There is a review of the quality of government banks, and we do not expect government banks to disappear and their role, but rather to restructure them and work with private banks
- There is a lack of trust between the banking sector and the people, and there is a good incentive to pay employees' salaries by opening bank accounts
Financial inclusion is one of our projects
- We are working with the Central Bank to prepare a strategy for financial inclusion, and during this visit we have some projects with the private sector and the government
Views 84
Added 05/28/2023 - 10:29 AM
[You must be registered and logged in to see this link.]
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