|Governor of the Central Bank Ali Al-Alaq|
Between time and time, some of the mouths in some media channels and means of social communication took advantage of the freedom of publication and the circulation of publications in order to achieve personal interests and divert the interests of the Iraqi people in these days towards the formation of the new government which we hope a lot in the next phase in the field of economic reform and overcoming suffering in years Economic and security shocks. This time their arrows were directed to the sovereign institution of the Iraqi Central Bank and its governor and his team. The bank did not exceed the provisions of Articles 32 and 33 of its Law No. 56 of 2004 regarding the issue of currency. The name of the Governor was not fixed. It is a custom used by some countries to document a certain historical stage, as was the case in previous stages. The transparency of the media profession to the achievements of the Central Bank of achievements during the previous years, which considered the governor because of the best Arab for the year 2018 and among the best 30 governors in the world and most importantly, Iraq’s exit from the monitoring and follow-up to the normal follow-up area according to Majmo Of the Financial Action. Therefore, I call on the national economic media and committed to convey the truth and bright points to the people and to demand the yellow media to apologize to the Central Bank of Iraq and its national team and I must mention here the most prominent achievements of the Central Bank during the past three years: –
Maintain inflation not exceeding 2% and the level of adequacy of foreign reserves within the acceptable rates according to the latest collective standard (imf)Provided by the International Monetary Fund 0 by 160%, which is considered an international high adequacy ratio, where the foreign reserves of Iraq amounted to $ 58 billion. And to stimulate the banking sector, regulatory, supervisory and supervisory, and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the law against money laundering 39 for the year 2015 and the development of payment systems and the application of all payments by retail and mobile phone and the establishment of the national division and work on the application of international standards In accordance with the principle of transparency and disclosure and obtaining the ISO 9001: In addition to this, the Bank’s daily efforts to stimulate financial inclusion and focus on the initiative to settle salaries of employees for the purpose of raising the financial coverage of the population who do not have accounts in the banking system, which actually rose from 11% to 22% based on the World Bank Bulletin and for the purpose of restoring confidence in the sector The bank has re-evaluated and classified banks in accordance with international standards and standards in evaluating business results and measuring the efficiency of performance as well as the establishment of a deposit guarantee company in order to raise the savings rate at banks and reduce the percentage of housekeeping and restore confidence in the banking sector and thus stimulate the economy Through activating the investment and bank financing its initiative the financing of small and medium-sized enterprises and the supervision and leadership of community initiatives funded by the Iraqi banks as a ful Baghdad and support the Iraqi drama fund and the establishment of two national financing for large projects and the establishment of a fund social and humanitarian benefits and take regulatory actionThe establishment of a depository center in the Iraqi stock market and the establishment of a national credit information center. And the Iraqi Payments Board. At the level of international banking relations, the Central Bank and the exceptional efforts of the Governor and his team have succeeded in restoring relations with Arab and foreign central banks and delivering the achievements of the past three years to the international financial institutions such as the Financial Action Organization, which contributed to the transition of Iraq classification from gray to follow-up. The Governor in 2017 to the Security Council and presented the achievements and organizational and structural development and technical compliance with international standards in financial reporting and enhance confidence in the Iraqi economy and Iraq’s ability to Commitment to international credit benefits and accolades of the World Bank and the International Monetary Fund and the Financial Action Task Force have had a clear impact in strengthening economic resilience and financial victory and move steadily towards financial sustainability.
All the above achievements make the Central Bank of Iraq, its governorate and its work team worthy of praise and honor. I repeat the invitation of the Iraqi national media to read and read the audiovisual media to enhance the sincere and sincere efforts of the Iraqi fathers who fight terrorism and build the new Iraq in one and highlight the achievements and success stories that Achieved despite all the challenges and that the most prominent of these successes and crises are the successes of the Central Bank of Iraq and its work team who deserve a right word neutral to serve our national economy and Iraqi banking sector
* Economic and banking consultant