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Al-Markazi: A drive to create solid financial institutions

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Economic, Local Central Economy: An approach to creating robust financial institutions

Al-Markazi: A drive to create solid financial institutions


Saturday 31st October 2020 90
Baghdad: Hussein Thahab


The Central Bank of Iraq confirmed the tendency to create solid financial institutions that support effective economic activities in the country.

The representative of the Central Bank said during the meeting of the General Authority of the International Islamic Bank that “the Central Bank supports the trends aimed at consolidating the banking system, which is the cornerstone for the development of the national economy through the advanced products that Progress to the nation's working effort."

Inclusion and pluralism

He pointed out that "the Central Bank does not accept the existence of slack in the Iraqi banking system, and supports the increase of capital after verifying its integrity, as it supports the operations of the banking sector through the merger and multiplicity of products provided to the public." customers".

Advanced services

In his turn, Chairman of the Board of Directors of the International Islamic Bank Haider Al-Shamaa pointed out that "efforts are continuously directed towards developing performance, and creating an effective banking system that supports efforts to develop the national economy, through a set of products that are continuously being developed to provide advanced services that reach all segments of society. Consistent with the financial inclusion trends recommended by the Central Bank  Iraqi".

He added, "The bank works in accordance with the instructions of the Central Bank and worked to support small and medium enterprises with effective economic viability, in a step aimed at providing job opportunities for the largest segment of Young".

Important projects

He pointed out, "Achieving a partnership with the Ministry of Agriculture to establish a number of important projects, as it was directed to cultivate soybeans in Iraq for the first time with areas that cover the country's need for this material that is imported from markets outside the country, as experiences have shown the success of cultivating this important crop inside Iraq, as well as Work is underway on a textile farming project in the holy Karbala, as well as simple transformative projects such as the production of derivatives  the milk".

He pointed out that "the success of the bank’s work requires the formation of governance committees and other specialized committees that follow up the mechanisms of work and paths to improve performance in a manner that enhances confidence between the banking system and the public, after there has become a big gap in this." Side

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