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Al-Alaq: The Central Bank gave a license to establish the Green Bank
November 24, 2024
Cairo/ Iraq Observer follow-up
The Governor of the Central Bank, Ali Al-Alaq, confirmed that the bank is focusing on an unconventional policy that requires direct involvement in the process of economic stimulation through its initiatives that support expanding the productive base and green projects, while he indicated that there is an Arab consensus on the role of central banks’ programs in addressing challenges.
Al-Alaq said on the sidelines of his participation in the opening of the activities of the Arab Week for Sustainable Development in its fifth edition, held in the Egyptian capital, Cairo,
“One of the main topics that this forum focuses on is the role of the banking sector in the
process of sustainable development, as well as the
great challenges facing Arab economies in terms of the weak production base.”
Weak financial inclusion and
many obstacles that are constantly being generated, and today we are also talking about
climate change and its impact on the economy and the
role of central banks and the banking sector in addressing challenges and risks.” He added,
“There is a consensus that the role of central banks and the banking sector has become a pivotal and essential role that should be focused on and a will must be pushed to develop awareness of these risks and turn them into real treatment programs.” He continued,
“Also, the Central Bank, as one of the central banks in the world, focuses on an unconventional policy for central banks through direct and indirect involvement in economic stimulation through various initiatives that attempt to expand the productive base as well as green projects.” He explained,
“As a result of this, the Central Bank gave a license to establish the Green Bank, which will be one of the important links.
There are also other projects that support financing small and medium enterprises in a way that expands the base of engagement.” He pointed out that
“the Central Bank supported a broad government program that took on a national dimension and represented the process of digital transformation, which is one of the government’s priorities.
We are working together, with direct support from the Prime Minister, to provide the requirements for this transformation, which constitutes a basic pillar of the digital economy in general.” He stressed that
“these important axes are being focused on in this conference with a conscious and accurate diagnosis, and knowledge and awareness of all the circumstances surrounding the economic challenges, which have also become linked to the challenges of the situation in the region and what requires wise management of the risks surrounding the Arab countries.”
https://observeriraq.net/العلاق-البنك-المركزي-أعطى-ترخيصا-لإنش/
November 24, 2024
Cairo/ Iraq Observer follow-up
The Governor of the Central Bank, Ali Al-Alaq, confirmed that the bank is focusing on an unconventional policy that requires direct involvement in the process of economic stimulation through its initiatives that support expanding the productive base and green projects, while he indicated that there is an Arab consensus on the role of central banks’ programs in addressing challenges.
Al-Alaq said on the sidelines of his participation in the opening of the activities of the Arab Week for Sustainable Development in its fifth edition, held in the Egyptian capital, Cairo,
“One of the main topics that this forum focuses on is the role of the banking sector in the
process of sustainable development, as well as the
great challenges facing Arab economies in terms of the weak production base.”
Weak financial inclusion and
many obstacles that are constantly being generated, and today we are also talking about
climate change and its impact on the economy and the
role of central banks and the banking sector in addressing challenges and risks.” He added,
“There is a consensus that the role of central banks and the banking sector has become a pivotal and essential role that should be focused on and a will must be pushed to develop awareness of these risks and turn them into real treatment programs.” He continued,
“Also, the Central Bank, as one of the central banks in the world, focuses on an unconventional policy for central banks through direct and indirect involvement in economic stimulation through various initiatives that attempt to expand the productive base as well as green projects.” He explained,
“As a result of this, the Central Bank gave a license to establish the Green Bank, which will be one of the important links.
There are also other projects that support financing small and medium enterprises in a way that expands the base of engagement.” He pointed out that
“the Central Bank supported a broad government program that took on a national dimension and represented the process of digital transformation, which is one of the government’s priorities.
We are working together, with direct support from the Prime Minister, to provide the requirements for this transformation, which constitutes a basic pillar of the digital economy in general.” He stressed that
“these important axes are being focused on in this conference with a conscious and accurate diagnosis, and knowledge and awareness of all the circumstances surrounding the economic challenges, which have also become linked to the challenges of the situation in the region and what requires wise management of the risks surrounding the Arab countries.”
https://observeriraq.net/العلاق-البنك-المركزي-أعطى-ترخيصا-لإنش/
