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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Central Bank is following up on the field the banking reform strategy

    Rocky
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    The Central Bank is following up on the field the banking reform strategy Empty The Central Bank is following up on the field the banking reform strategy

    Post by Rocky Mon 17 Jul 2023, 5:13 am

    The Central Bank is following up on the field the banking reform strategy

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    During these days, the Central Bank followed up with field tours of our governmental and private banks, which began last week in Erbil with a specialized and expanded meeting in the presence of banks operating in the province and the Association of Iraqi Private Banks. Field follow-ups continued today to the two governmental Iraqi Trade and Industrial Banks.
    One of the most prominent things that was mentioned and emphasized by the Governor of the Central Bank as a main goal is the role of the Central Bank and the banking sector in implementing Paragraph (7) of Article (12) of the government program (financial and banking reform), which stipulates (reforming the banking system in Iraq to provide a real base And effective to advance the Iraqi economy and stimulate investment through restructuring and mechanization of government banks, reviewing their work, stimulating private banks and enabling them to be able to support real investment and development).
    Where the Central Bank implements its plan for this year to build clear foundations for market stability and maintain the stability of the exchange rate of the Iraqi dinar according to the official target price and support its purchasing power and continue the campaign to support the Iraqi dinar at all levels. Therefore, the directives of the Governor of the Central Bank to private banks in Erbil were to carry the directions The same for government banks in Baghdad. And from our follow-up and analysis of the results of field visits, the focus has been focused on as obligatory goals, which are as follows: -
    First - raising the level of accuracy and speed in executing foreign commercial transfers and overcoming delays in them through in-depth negotiations with the US Federal Reserve and agreement with an auditing company specialized in
    auditing remittances instead. From the US Federal Reserve, and this contributed to the success of the project by 80%, and the allocation of a permanent and developed center to conduct these transfers and ensure the stability of the exchange rate.
    Second - Supporting the productive private sector, financing and developing small and medium enterprises, in a way that contributes to reducing unemployment, revitalizing the economic cycle and stimulating the economy.
    Third - Enabling the banking sector to contribute to development and investment, as stated in the government program, and suggesting that banks finance the project of paving a commercial road between Baghdad and Erbil, which achieves an important strategic goal that serves trade, transport, investment, and rapid hospitalization, and is considered one of the pillars of sustainable development projects.
    Fourth - Improving the level of services provided to customers and investing in modern financial and banking technologies.

     



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