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Al-Alaq: Supporters of the Islamic banking sector
Economical 03/07/2024
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Baghdad: Al-Sabah
The Governor of the Central Bank, Ali Al-Alaq, expressed his support for the work of Islamic banks, and stressed the progress of government steps to remove the obstacles that hinder the development of their work.
A press statement issued by the Association of Banks explained that Al-Alaq met with the delegation of the Iraqi Association of Islamic Banks within the framework of a serious approach and effective action to support banking work and the private sector. He explained that the meeting included a discussion of ways to advance the vital Islamic banking sector to support the national economy, especially since many private banks were subject to the suspension of their transactions in the US dollar. Al-Alaq indicated that the Central Bank is seeking by all means to support the banks, stressing that there are moves at a high level by the government to stop... On solutions, in addition to emphasizing professionalism and commitment to international standards. In turn, the Executive Director of the Association, Ahmed Al-Rubaie, said: The meeting was positive and fruitful, appreciating the efforts made by the Central Bank, especially since there are steps confirmed by the results achieved through the move to open direct communication channels for banks. Local cooperation with its foreign counterpart in correspondence and commercial exchange to find outlets for dealing in currencies other than the dollar, including the Emirati dirham, the Turkish lira, the euro, and others.
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