Economy News Baghdad:
The economic and banking adviser of the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy. The criticisms and rumors and the new malicious campaigns will inevitably harm the national economy and the Iraqi banking sector because the policies and procedures adopted by the Central Bank during the past four years refute all the boycotts and the directions of the media outlets benefiting from the launch of the seven billion dinars dinar and the building of the Central Bank. ...
Al-Nusairi said in an interview with the Economic News Agency that “the Central Bank has been working mainly to combat money laundering and terrorism financing, strictly abide by international regulations, rules and standards, re-evaluate and classify banks in light of their compliance with compliance regulations, New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the exchange rate of the US dollar, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation of the banking sector with him and commitment to The instructions and standards issued by the Central Bank . “
“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies .”
He pointed out that “the Iraqi economy, and because of the circumstances experienced during the past four years of the fall of oil prices by a sudden 70%, the costs of the war on terrorism and the economic recession and the unstable business environment in Iraq, led to the passage of this sector with great challenges did not pass any sectors of banking In the whole region, “pointing out that” this sector, both government and private under the leadership of the Central Bank of Iraq has faced these challenges pilot experience must be followed because what has been achieved is a major development and victory can be called financial victory and economic steadfastness. ” Destruction that affects the relationship Our financial and international banking .
“We aim for the next five years in the sustainable development plan for the years 2018-2022 to achieve financial sustainability,” he said, pointing out that “the government and private banking sector plays a key role in achieving this .”
“The banking sector is composed of 73 banks, government, private and commercial
He said “developments in the banking sector indicate the efficiency of the performance of this sector trends that are reflected on the gross domestic product ” ,
He added that “the central bank’s policy has contributed to the payment of dues of farmers and contractors and played a key role in launching the initiative of financing small and medium enterprises and is currently on the establishment of a fund for joint funds to finance large projects, stressing that” the Central Bank to follow this step and bold to activate the economic cycle because These initiatives achieve two objectives: economic and social . “
He stressed that “the banking sector is part of the strategy of the Central Bank during the five years 2016-2020, which includes developments in the structural and evolutionary and in compliance with international standards in risk management, compliance and in combating money laundering and banking awareness,” pointing out that ” The Central Bank of Iraq is an international standard for the classification of banks with classifications a , b and c, which is in accordance with the international standards issued by the Financial Action Organization. All this helped Iraq move in light of the arrangement of this organization from the monitoring and auditing area to the normal follow-up area every two years .