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Intensive preparations for the Financial Inclusion Week

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Intensive preparations for the Financial Inclusion Week

17/4/2018 12:00 am

On the occasion of his Arab day

Baghdad / Hussein Thugb

Financial inclusion is an inevitable necessity in a country that seeks to expand economic activity through its productive and service paths and to create an advanced banking system that provides services to all members of society and benefits them in support of development.

Economic development.

Financial inclusion means the introduction or integration of groups that are called financially marginalized or low-income people who are not allowed to engage in banking system operations by dealing with the banking system through the mobile digital business system, Electronic.

It is preparing to organize a week of financial inclusion on the occasion of the Arab Day of Financial Inclusion and Iraq from the countries that celebrate this, spreading the culture of financial inclusion to its importance in supporting economic activity in Country.

Infrastructure development

Director General of Payments at the Central Bank of Iraq, said: "The Central Bank seeks to develop the financial and banking sector through the development of infrastructure that enables financial and banking institutions to improve services and accessibility by all segments of society

"In this context comes attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the education of banking services, especially for women, as well as to the segment of students, whether schools or universities, which are considered effective tools for the dissemination of culture and the fight against illiteracy Banking".

She added that "the expansion of this subject among the community to educate them about the positive effects of financial coverage of their lives, as well as prepare them to manage their financial lives in the initial stages of starting them in any area may work in the future," asserting

"to identify indicators of Iraqi financial coverage and data collection periodically semi-annually and consider 2016 is the base year so that the two centers can monitor the performance of banks and payment service providers and draw up a financial inclusion strategy, Which will be the launch of the main determinants and the formation of the Supreme Committee for Financial Inclusion coinciding with this event (the Arab Week of Inclusion Financial)

Best International Practices

The Central Bank of Iraq considers the active partnership with the private sector to be the most important elements of success.

This comes with the support of banks and electronic payment service providers through legislation that regulates their work and gives them sufficient flexibility to develop their business according to international best practices and involve them as key members of the National Payments Council and the Supreme Committee for Financial Inclusion.

She pointed out that "the important steps taken by the Central Bank in the establishment of workshops in a number of universities and contribute to dialogues and seminars and the last participation in the Baghdad International Book Fair and contribute to the seminars held during which by the Governor of the Central Bank and a number of general managers and each according to its competence, One of these sessions was devoted to the issue of financial inclusion in Iraq."

Free banking services

Director of Management and Training in the Association of Private Banks Ahmed Al Hashemi said: "Iraq is one of the countries that need awareness and education programs in this important chapter, which has become effective internationally,

pointing out that "the week of financial coverage, which is preparing for him, a number of events adopted by banks and progress

"The various products that will be offered are designed to benefit the citizen, as the products offer opportunities to obtain a loan for low income families, while encouraging the activation of deposits transfer of money buried in homes to The banking system and make them supportive of the process of activating the national economy."

Financial Inclusion Department

He stressed that "the nominal goal to encourage Iraqi banks to be an effective starting point to achieve this trend, considering that a large proportion of society outside the scope of financial inclusion," noting that

"the week of financial inclusion witnessed the presentation of animated films showing the importance of saving and the distribution of stories and discoveries to create a culture of savings"

The week will work to educate citizens about the importance of the subject of electronic cards, which will be all the requirements of the human through them and the advantages of positive and it saves money, and does not expose them to any risks, and this subject reduces the process of money laundering,

Because my work The movement of funds will be followed closely by high authorities Concerned".

Electronic payment companies

Al Hashimi said that "financial coverage targets all cities with banking branches, where citizens are encouraged to enter the banking system to expand their products, and we encourage electronic payment companies to provide almost free services to encourage the localization of salaries.

"We have to catch up with global developments, and we are working on this approach with great seriousness and we base our efforts on this Direction".

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