Economy News – Baghdad
The Association of Iraqi Private Banks on Wednesday held a seminar on the concept of financial inclusion within the seventh day of the Baghdad International Book Fair, which was held from February 7 to 18 this February.
Participated in the symposium, the Director of Payments in the Central Bank of Iraq, Subhi Abdul Karim, the economic adviser to the Prime Minister appearance of Mohammed Saleh and the Executive Chairman of the Association of Iraqi private banks Ali Tarek, while the hubs Ahmad Hazal.
The appearance of Mohammed Saleh, speaking at the seminar on mechanisms to combat poverty on the basis of financial inclusion, explaining how it provides financial services to weaken the social segments at the lowest cost and a high degree of informatics, and also that the United Nations aims to achieve financial inclusion for sustainable development, The World Bank will launch a financial inclusion initiative next year to bring people closer to the financial system, while stressing that Iraq has jumped from traditional financial coverage to digital financial inclusion.
For its part, the director of payments in the Central Bank of Iraq, said that the central bank concerned with the infrastructure to support financial coverage, as the proportion of financial coverage in Iraq below the level of ambition and we hope in 2020 to achieve a larger proportion.
She stressed that the citizen should enjoy the financial culture in order to raise the community in financial affairs, especially as the project is specialized in providing services to all governorates without exception, considering that the financial culture is necessary, after agreement with the Ministry of Higher Education to approve the presence of Booth for banks throughout the year within University to provide inquiries and banking education for students.
The Executive Director of the Association of Iraqi Private Banks Ali Tariq explained that all layers of society need financial service, pointing out that the participation of the Association of Banks and private banks in the Book Fair is one of the means to promote the idea of financial inclusion, noting that the banking sector needs to re-confidence By the state and thus citizens’ confidence in the banks.
He added that the number of banks and ATMs increased significantly and we hope to expand further, even though we have not reached the level of financial education in the face of major challenges in the country such as unemployment and the absence of a rural economy, while stressing that the achievement of financial inclusion A gradual process needs time.