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Al-Allaq announces the start of the second phase of the banking sector restructuring plan
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Economy News - Baghdad
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Added 05/19/2024 - 8:27 PM
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Economy News - Baghdad
Central Bank Governor Ali Mohsen Al-Alaq announced on Sunday the start of the second phase of the banking sector restructuring plan.
The media office of the Central Bank of Iraq said in a statement, received by Al-Iqtisad News, that “Al-Alaq received a delegation from the World Bank headed by the Regional Director for Equitable Growth, Finance and Institutions for the Middle East and North Africa, Nader Muhammad,” noting that “during the meeting, strengthening bilateral relations was discussed.” between the Central Bank of Iraq and the World Bank, especially the restructuring of government banks, and the launch of the Riyada Bank project and its economic and social importance. The two parties also discussed the experiences of neighboring countries in confronting climate change and its impact on the national and regional economy.”
He added, "The meeting discussed small and medium enterprises and their support by the Central Bank, and the development of the financial and banking sector, non-banking financial institutions, financial markets and the insurance sector, as well as benefiting from the World Bank's experiences in digital transformation, financial inclusion, and digital banks," noting that "the governor reviewed during the meeting , The Central Bank of Iraq’s plan to restructure the banking sector,” noting that “this bank has completed the first phase of the plan, and has begun the second phase.”
Al-Alaq stated - according to the statement - that “the Board of Directors of the Central Bank licensed the Green Bank, which will be the nucleus of renewable energy and sustainable financing initiatives,” revealing “the Central Bank of Iraq’s intention to license a number of digital banks.”
He added, "The meeting discussed small and medium enterprises and their support by the Central Bank, and the development of the financial and banking sector, non-banking financial institutions, financial markets and the insurance sector, as well as benefiting from the World Bank's experiences in digital transformation, financial inclusion, and digital banks," noting that "the governor reviewed during the meeting , The Central Bank of Iraq’s plan to restructure the banking sector,” noting that “this bank has completed the first phase of the plan, and has begun the second phase.”
Al-Alaq stated - according to the statement - that “the Board of Directors of the Central Bank licensed the Green Bank, which will be the nucleus of renewable energy and sustainable financing initiatives,” revealing “the Central Bank of Iraq’s intention to license a number of digital banks.”
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Added 05/19/2024 - 8:27 PM
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