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The Central Bank announces the success of the financing initiative for the agricultural and industrial sectors
Tuesday, June 7, 2022 7:17 PM
Baghdad / National News Center
Today, Tuesday, the Central Bank of Iraq clarified the
The media office of the Central Bank said to the official agency, followed by the National News Center, that
"the Central Bank of Iraq is working continuously to
He added, "The Central Bank is also working to follow up the
Regarding loans, the media office stated, “The lending criteria within the initiative of the Central Bank of Iraq are based on the provisions of Clause (3) of the General Conditions for Lending Mechanisms issued under the Prime Minister’s Office letter on November 22, 2015, by registering the borrowing request on the Tamweel website. (https://tamwil.iq/) and the selection of the concerned bank with the delivery of the required documents with guarantees and the feasibility of the project, which are subject to scrutiny and approval,” stressing that
“this initiative works to provide new job opportunities in the private sector of the youth category by 50%, and the category of graduates.” Newcomers at 10%, female breadwinners 25%, special needs 5%, and rural residents 10%.
He stressed that "this initiative contributed to achieving 4 positives, represented by
He pointed out that “the Central Bank seeks to support societal segments and support them to bear economic difficulties by reading the international and local economic reality, as
the bank sought, during the pandemic in 2020, to postpone installment payments for 6 months due to the health situation and the curfew in the name of reducing financial pressures on borrowers.”
He continued, "The Board of Directors of the Central Bank of Iraq also took the initiative to study the
which calls for supporting projects and mitigating the effects that resulted from the Corona pandemic and the economic conditions that prevail in the world, which affected the capabilities of some projects in fulfilling their obligations to the banks that lent them, in a way that ensures the continuation of the work of these projects and overcoming the temporary problems they face.
On the monetary reserve, the media office stated that
“the foreign reserves of the Central Bank of Iraq during the first quarter of 2022 amounted to 74 billion US dollars, including various foreign currencies and gold reserves,” stressing that
“the foreign reserves of the Central Bank of Iraq for the second quarter of this year will be issued soon when It is officially completed, in support of the transparency policy that this bank is pursuing in stabilizing the Iraqi economy.”
The Central Bank announces the success of the financing initiative for the agricultural and industrial sectors
Tuesday, June 7, 2022 7:17 PM
Baghdad / National News Center
Today, Tuesday, the Central Bank of Iraq clarified the
details of its initiative to provide new job opportunities for five categories,
confirming that it achieved 4 benefits, while
announcing the success of the financing initiative for the agricultural and industrial sectors.
The media office of the Central Bank said to the official agency, followed by the National News Center, that
"the Central Bank of Iraq is working continuously to
- implement all procedures for developing information security infrastructure and
issuing instructions and guidelines for the financial and banking sector, which include all domains and areas of information security and cybersecurity that are consistent with Standards, best practices, frameworks and global regulations.
He added, "The Central Bank is also working to follow up the
- application of the basic concepts of governance of information technologies and security, cyber steadfastness, the
development of information security formations within financial and banking institutions, the
accreditation of efficient technical cadres and those who hold professional technical certificates internationally approved in this framework, to
manage information security risks,
avoid attacks and electronic intrusions, and
develop Security response processes and procedures to cyber events and
integrated digital protection for technical infrastructure, electronic payment processes, banking systems and applications.”
Regarding loans, the media office stated, “The lending criteria within the initiative of the Central Bank of Iraq are based on the provisions of Clause (3) of the General Conditions for Lending Mechanisms issued under the Prime Minister’s Office letter on November 22, 2015, by registering the borrowing request on the Tamweel website. (https://tamwil.iq/) and the selection of the concerned bank with the delivery of the required documents with guarantees and the feasibility of the project, which are subject to scrutiny and approval,” stressing that
“this initiative works to provide new job opportunities in the private sector of the youth category by 50%, and the category of graduates.” Newcomers at 10%, female breadwinners 25%, special needs 5%, and rural residents 10%.
He stressed that "this initiative contributed to achieving 4 positives, represented by
- providing the private sector with the establishment of factories, secondly
reducing dependence on imports,
supporting the residential sector, and fourthly
encouraging national exports."
He pointed out that “the Central Bank seeks to support societal segments and support them to bear economic difficulties by reading the international and local economic reality, as
the bank sought, during the pandemic in 2020, to postpone installment payments for 6 months due to the health situation and the curfew in the name of reducing financial pressures on borrowers.”
He continued, "The Board of Directors of the Central Bank of Iraq also took the initiative to study the
- economic conditions that the country is going through and the
challenges facing workers in various economic sectors, especially the agricultural and industrial sectors, and the
success of its financing initiatives in achieving its basic objectives to bring about development, provide job opportunities and
fill part of the needs that were It is secured by imports,
which calls for supporting projects and mitigating the effects that resulted from the Corona pandemic and the economic conditions that prevail in the world, which affected the capabilities of some projects in fulfilling their obligations to the banks that lent them, in a way that ensures the continuation of the work of these projects and overcoming the temporary problems they face.
On the monetary reserve, the media office stated that
“the foreign reserves of the Central Bank of Iraq during the first quarter of 2022 amounted to 74 billion US dollars, including various foreign currencies and gold reserves,” stressing that
“the foreign reserves of the Central Bank of Iraq for the second quarter of this year will be issued soon when It is officially completed, in support of the transparency policy that this bank is pursuing in stabilizing the Iraqi economy.”
