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Al Nassiri praises Central Bank action in the development and reform of the banking sector

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Al Nassiri praises Central Bank action in the development and reform of the banking sector

Economy news _ Baghdad

He praised the economic and banking Adviser Samir Al Nassiri, evolutionary and corrective action by the Central Bank of Iraq two years ago to address the challenges faced by Iraqi banks because of the economic and financial crisis experienced by Iraq.

Al Nassiri said during his participation in the symposium hosted by the Graduate Institute of accounting and financial studies at the University of Baghdad (financial and monetary reform requirements in Iraq under International Monetary Fund directives) and "economy" attended ", the Central Bank has an evolutionary procedures And two years ago, the reform to meet the challenges faced by Iraqi banks because of the economic and financial crisis experienced by Iraq because of falling oil prices and the war on terror and structural and structural imbalances in the economy ", noting that"

Although the Central Bank to prepare and launch Strategy for the years (2016-2020) which included a major and subsidiary goals to achieve financial stability and development of the banking system in accordance with the mechanisms and new points of action but in a puddle of the Bank adopt visions and proposals through the Central Bank and Finance Ministry to analyze the financial position of banks.

Current and expected for years (2017-2020) and determine the actual need for liquidity to sustain cash circulation in the Iraqi market and revitalize the economic cycle in all fields and proactive plan to prevent bankruptcy and the collapse of some banks and perpetuate wheel banking business in the current circumstances and the use of mechanisms New tools and apps for monetary policy."

"The current bank financing structure worn by many failures and constraints in order to increase the overall funding credit from banks and activate their contribution in various investment and reconstruction and promote development and move economic cycle in Iraq see as a key step towards serious is re- Alnzrbsiash lending and banking finance and activate special projects funding aggrandizement SMEs as a priority social and economic goal especially urgent and that the Central Bank and effective regulatory and supervisory role.

He noted "the importance of activating the role of State banks and specialized banks and private banks to provide soft loans to the domestic private sector companies and individuals in accordance with the initiative of the Central Bank to finance small and medium-sized enterprises as well as solutions to the problems of taxation and the accumulated interest Stalled entrepreneurs on production."


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