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Central bank: efforts to lead a national financial system that meets the requirements of the public
Nabaa 12 hours ago
The governor of the central bank Mustafa Ghaleb stressed on Monday that
there are efforts to lead a national banking and financial system capable of meeting the requirements of the public in various aspects.
The governor of the central bank, Mustafa Ghalib, said in a speech during the conference of the lending program launched by the Association of banks in cooperation with the central bank and the US Agency for development, which followed him (first news), that
“the mechanisms accompanying the tasks of granting loans in Iraq, are not without difficulties, as they are related to the nature of consideration of funds, their functions and the expectations of the public in dealing with them,” indicating that
“some people believe that all lending operations are a type of grants that do not require recovery;
which requires banks to double the guarantee procedures that ensure the recovery of those loans, and
this is a problem followed by routine arrangements some consider it unnecessary, while the bank considers it necessary to recover Money". He added:
”in our initiative, which we launched and its total funds reached about 18 trillion dinars,
we tried to set requirements to ensure the safety of the lending process, starting and then ensuring the recovery of funds, “pointing out that
”facilitating assets to funds and
supporting the strategy of financial inclusion and
cooperation of all parties to the lending and borrowing process,
represent the main pillars for development to remain in its aspects related to funds and ease of access. He pointed out that
“the central bank is trying hard with the Association of Iraqi private banks and supporting international institutions, including the USAID and other national institutions, to lead a national banking and financial system capable of meeting the requirements of the public in various aspects”.
Central bank: efforts to lead a national financial system that meets the requirements of the public
Nabaa 12 hours ago
The governor of the central bank Mustafa Ghaleb stressed on Monday that
there are efforts to lead a national banking and financial system capable of meeting the requirements of the public in various aspects.
The governor of the central bank, Mustafa Ghalib, said in a speech during the conference of the lending program launched by the Association of banks in cooperation with the central bank and the US Agency for development, which followed him (first news), that
“the mechanisms accompanying the tasks of granting loans in Iraq, are not without difficulties, as they are related to the nature of consideration of funds, their functions and the expectations of the public in dealing with them,” indicating that
“some people believe that all lending operations are a type of grants that do not require recovery;
which requires banks to double the guarantee procedures that ensure the recovery of those loans, and
this is a problem followed by routine arrangements some consider it unnecessary, while the bank considers it necessary to recover Money". He added:
”in our initiative, which we launched and its total funds reached about 18 trillion dinars,
we tried to set requirements to ensure the safety of the lending process, starting and then ensuring the recovery of funds, “pointing out that
”facilitating assets to funds and
supporting the strategy of financial inclusion and
cooperation of all parties to the lending and borrowing process,
represent the main pillars for development to remain in its aspects related to funds and ease of access. He pointed out that
“the central bank is trying hard with the Association of Iraqi private banks and supporting international institutions, including the USAID and other national institutions, to lead a national banking and financial system capable of meeting the requirements of the public in various aspects”.
