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Central Bank of Iraq: Our procedures have revolutionized the financial and banking sector
December 26, 2023 Last updated: December 26, 2023
Independent/- Assistant Director General of the Department of Investment and Foreign Remittances at the Central Bank of Iraq, Muhammad Yunus, confirmed that
the Central Bank’s measures were a “revolution” in the financial and banking sectors, indicating that
the Central Bank has begun to reap the fruits of the recent measures.
Younis said, in a press statement followed by Al-Mustaqila on Tuesday, that
“the Central Bank’s measures
contributed to enhancing transparency and governance of financial institutions,
improving services provided to citizens, and
increasing confidence in the Iraqi economy.” He added,
“The Central Bank will continue to take important economic measures in 2024, with the aim of achieving economic stability and promoting growth.” Younis pointed out that
“Iraqi banks opened accounts in Europe and some countries for the first time, after complying with international standards.” He pointed out that
“compliance with international standards facilitated the trade financing process and contributed to increasing Iraqi exports.”
The following are the most important measures taken by the Central Bank of Iraq:
Issuing the new Central Bank of Iraq law, which regulates the bank’s work and subjects its budget to parliamentary oversight.
Forming a committee to combat money laundering and terrorist financing, which works to enhance transparency in the financial sector.
Issuing new instructions to commercial banks, obligating them to follow corporate governance standards and combating money laundering and terrorist financing.
Starting to implement the electronic payment system, which aims to facilitate financial transactions and increase transparency.
These measures come within the framework of the Iraqi government's efforts to reform the financial and banking sector and enhance confidence in the Iraqi economy.
https://mustaqila.com/البنك-المركزي-العراقي-اجراءاتنا-احدث/
December 26, 2023 Last updated: December 26, 2023
Independent/- Assistant Director General of the Department of Investment and Foreign Remittances at the Central Bank of Iraq, Muhammad Yunus, confirmed that
the Central Bank’s measures were a “revolution” in the financial and banking sectors, indicating that
the Central Bank has begun to reap the fruits of the recent measures.
Younis said, in a press statement followed by Al-Mustaqila on Tuesday, that
“the Central Bank’s measures
contributed to enhancing transparency and governance of financial institutions,
improving services provided to citizens, and
increasing confidence in the Iraqi economy.” He added,
“The Central Bank will continue to take important economic measures in 2024, with the aim of achieving economic stability and promoting growth.” Younis pointed out that
“Iraqi banks opened accounts in Europe and some countries for the first time, after complying with international standards.” He pointed out that
“compliance with international standards facilitated the trade financing process and contributed to increasing Iraqi exports.”
The following are the most important measures taken by the Central Bank of Iraq:
Issuing the new Central Bank of Iraq law, which regulates the bank’s work and subjects its budget to parliamentary oversight.
Forming a committee to combat money laundering and terrorist financing, which works to enhance transparency in the financial sector.
Issuing new instructions to commercial banks, obligating them to follow corporate governance standards and combating money laundering and terrorist financing.
Starting to implement the electronic payment system, which aims to facilitate financial transactions and increase transparency.
These measures come within the framework of the Iraqi government's efforts to reform the financial and banking sector and enhance confidence in the Iraqi economy.
https://mustaqila.com/البنك-المركزي-العراقي-اجراءاتنا-احدث/
