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The European Union mission expresses its readiness to cooperate with the Iraqi banking sector
June 09, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Union mission headed by His Excellency Ambassador Mr. Thomas Seiler in Baghdad.
His Excellency the Governor discussed the role of the Central Bank of Iraq and its interest in developing the banking sector, and its diligent measures in structuring government banks and addressing problems therein with direct support and follow-up from the Prime Minister.
His Excellency explained that these banks used international auditing companies.
Pointing out that the Central Bank is working to establish a “Riyadah Bank” specialized in
financing small and medium enterprises, in order to
facilitate and develop credit capacity, in consolidating loans, with support and supervision from the Central Bank and
financing from private banks, and
seeking the expertise of international organizations in this field.
In his speech, His Excellency the Governor focused on the bank’s interest in
strengthening and developing electronic payment systems and
internal and external electronic financial transfers, and
developing supervisory practices in the field of combating money laundering in accordance with international standards.
For his part, Mr. Siler praised the role of the Central Bank of Iraq in the steps it took to develop the
banking sector,
economic stability, and
confront difficulties and challenges.
Expressing the readiness of the European Union to provide support and joint cooperation in developing systems and expertise for the staff of the Central Bank of Iraq and to open areas of cooperation with the Iraqi and European banking sectors through official communication methods between them.
Central Bank of Iraq
information Office
June 9, 2024
https://cbi.iq/news/view/2604
June 09, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Union mission headed by His Excellency Ambassador Mr. Thomas Seiler in Baghdad.
His Excellency the Governor discussed the role of the Central Bank of Iraq and its interest in developing the banking sector, and its diligent measures in structuring government banks and addressing problems therein with direct support and follow-up from the Prime Minister.
His Excellency explained that these banks used international auditing companies.
Pointing out that the Central Bank is working to establish a “Riyadah Bank” specialized in
financing small and medium enterprises, in order to
facilitate and develop credit capacity, in consolidating loans, with support and supervision from the Central Bank and
financing from private banks, and
seeking the expertise of international organizations in this field.
In his speech, His Excellency the Governor focused on the bank’s interest in
strengthening and developing electronic payment systems and
internal and external electronic financial transfers, and
developing supervisory practices in the field of combating money laundering in accordance with international standards.
For his part, Mr. Siler praised the role of the Central Bank of Iraq in the steps it took to develop the
banking sector,
economic stability, and
confront difficulties and challenges.
Expressing the readiness of the European Union to provide support and joint cooperation in developing systems and expertise for the staff of the Central Bank of Iraq and to open areas of cooperation with the Iraqi and European banking sectors through official communication methods between them.
Central Bank of Iraq
information Office
June 9, 2024
https://cbi.iq/news/view/2604
