.Central Bank Announces Strategic Banking Projects for the next five years
By Samir al-Nusairi
In the monthly meeting of the government and private banking leaders, Mr. Ali Al-Alak, Governor of the Central Bank of Iraq, confirmed the continuation of the Bank’s approach to stimulate the economy and build the capacity and development of the banking sector in order to move to the development role and contribute to financing investment and reconstruction projects.
The exchange rate as the main achievement of monetary policy applications and one of its important objectives, which has positive repercussions on the revitalization of the economy and stabilize the monetary and financial system.
Ed oil as a key resource for revenue and continuing imports of all goods and not to encourage and support local production will inevitably lead to the continuation of the bank offer to sell dollars, according to its law because the reason is not supply but demand for the dollar for the reasons above.
At the meeting, the Central Bank announced the launch of its strategy for the next five years to implement 21 projects to develop and develop banking business after it was able to achieve most of the main and sub-objectives of its first strategy for the years ( 2016-2020 ), which has become possible to start the process to achieve the full objectives of monetary policy and move to The ranks of international banks sober certified by specialized international financial organizations.
One of the strategic banking projects, whose objectives and future impact have been defined according to a timetable for each project, the implementation periods and reaching the target during the years ( 2019-2023) are development projects related to financial inclusion such as the settlement of salaries and projects to restore confidence in the banking sector such as the deposit guarantee company and structural development projects.
And administrative and legal as a draft government guide and projects for training and rehabilitation and capacity-building and classification of banks and projects to move banks from the role of banking to contribute to development as a project of Islamic finance pool.Read More