Towards a solid banking sector
In the middle of last year, and through a diagnostic and analytical view of the Central Bank of the expectations of a new stage of economic stability after the Orientalism of a new economic reality after the economic steadfastness and decisive victory over terrorism Mr. Ali Al-Alaq, the Governor of the Central Bank sent a letter to Iraqi banks and the Association of Iraqi private banks ) Is a curriculum and work program clear and specific objectives of the boards of departments of banks and executive departments.
At the meeting held Sunday for banking leaders, the governor stressed the validity of reading the visions and policies and steps that the message organized after the change Data and developments in the stability of the exchange rate three months ago and the urgent need for the banks to move to the post - currency window and orientation of the work of the real banking stage.
And that the boards of directors assess the course of the banks and start effectively implement the message,
whose first objective is to address the negative remarks that the governor and the central bank departments during their field visits to banks during the past year and this year and adopted a methodology to develop the practices and development procedures achieved by banks to upgrade the products and services to the level of banking Which is planned by the Central Bank within the Strategic Action Points for the years (2016-2020),
in order to achieve financial stability and financial coverage and investment of human capital and modernization in banking technologies,
which contributes to reducing the The technical aspect between Iraqi banks and Arab and foreign banks, and thus restore confidence in the Iraqi banking sector and move it to a solid banking sector contributes to sustainable development and provides services to the national economy as the first link financing and investment in the economy.
"The focus on that banks must determine their needs from the Central Bank For the purpose of continuing to communicate within the banking system sober, which provides the latest and best products and banking services for citizens and modern techniques and contribute to the revitalization of the economic cycle and contribute to development because it is time to dismantle The banks, which are unable to meet the requirements of the next phase seriously integrate with other banks and the transition from weak banks to solid banks.
The new phase, as specified in the letter is the adoption of proactive control and field visits and exploration to identify the imbalances and the foundations of success and upgrading the Iraqi banking sector to the banking sector and strive to stimulate practices The best rules that achieve stability, progress and advancement.
Date Added 28/05/2018