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Governor of the Central Bank confirms the real reconstruction of the government banking sector
April 14, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, confirmed that what is meant by restructuring the Iraqi banking sector is government banks, considering that
strengthening and restructuring these banks represents a real rebuilding of the banking sector in Iraq.
His Excellency mentioned during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in Washington, DC, that the
assets and assets of government banks constitute more than 80% of the Iraqi banking sector. His Excellency revealed that
the Central Bank has a program to restructure government banks and
has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund,
stressing the existence of harmony between the Iraqi government and the Central Bank in the process of reforming the banking sector. And he continued, that
there are several possibilities related to the restructuring of government banks, as
these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts, adding, that
all the possibilities involved in merger and acquisition exist, and that
any formula that is useful, we will study it with the competent authorities and organizations. International, which has long experience and experience in this field.
It is noteworthy that His Excellency the Governor held many bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC.
Central Bank of Iraq
information Office
April 14, 2023
https://cbi.iq/news/view/2307
April 14, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, confirmed that what is meant by restructuring the Iraqi banking sector is government banks, considering that
strengthening and restructuring these banks represents a real rebuilding of the banking sector in Iraq.
His Excellency mentioned during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in Washington, DC, that the
assets and assets of government banks constitute more than 80% of the Iraqi banking sector. His Excellency revealed that
the Central Bank has a program to restructure government banks and
has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund,
stressing the existence of harmony between the Iraqi government and the Central Bank in the process of reforming the banking sector. And he continued, that
there are several possibilities related to the restructuring of government banks, as
these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts, adding, that
all the possibilities involved in merger and acquisition exist, and that
any formula that is useful, we will study it with the competent authorities and organizations. International, which has long experience and experience in this field.
It is noteworthy that His Excellency the Governor held many bilateral meetings on the sidelines of the Iraqi delegation's participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC.
Central Bank of Iraq
information Office
April 14, 2023
https://cbi.iq/news/view/2307
