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Establishing a leasing company
Economic 12/12/2024
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Yesterday, Wednesday, the Governor of the Central Bank, Ali Mohsen Al-Alaq, discussed with a delegation from the International Finance Corporation the establishment of a leasing company with local and foreign contributions. A statement from the Central Bank’s media office received by “Al-Sabah” stated that “Al-Alaq received a delegation from the International Finance Corporation that included the Director of the Financial Sector of the Corporation in the region, Yousef Habash, and Bilal Al-Zughair, the resident representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.”
The statement added that "the meeting discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation and the importance of cooperation between local banks and correspondent banks with technical support from the Corporation and developing Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman)." The Governor of the Central Bank also discussed the proposal to establish a leasing company with local and foreign contributions, as it is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as industrial machinery and equipment, vehicles, offices and warehouses.
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