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Focusing attention on the banking sector
Economical 11/26/2024
Yasser Al-Metwally
It is noted these days that there is a growing interest in the banking sector in general, both governmental and private
What does this trend mean?
This comes amidst a remarkable shift of attention towards the banking sector through the government allocating significant time in light of its heavy responsibilities,
which means its awareness that all economic activities, including the implementation of strategic projects and means of encouraging investment, require a solid banking sector to implement its economic programmes.
This moral support, which is represented by interest, requires taking steps to encourage banks to carry out their role to the fullest, represented by laws and procedures that guarantee the banking sector to push it towards implementing its required development programs.
The month of October of this year witnessed many important meetings between the government and representatives of the banking sector that discussed the requirements for revitalizing banks.
It is noteworthy that the focus was on the process of structuring Al-Rafidain Bank, which is the first bank in Iraq that the government relies on to play a development role equal to the size of its savings, especially since it is the repository for government savings as well as the public’s savings, which are no less important.
The goal is definitely to invest this money and put it into the labor market in a way that achieves speed.
Capital turnover that contributes to creating broad job opportunities by operating idle production sectors, workshops, factories, etc.
However, this interest was not limited to government banks, but rather extended to the same interest in private banks through meetings and discussion of their needs, whether by the government or the Central Bank of Iraq, and an attempt to overcome the challenges they face.
One of the results of this government movement, represented by paying attention to the government sector, and in parallel, is the completion and launch of the lending strategy, which comes to correct the path of random, unpurposeful loans.
This new strategy is relied upon to stimulate various important economic sectors, represented by directing loans towards the implementation of projects with a strategic dimension,
which contribute to stimulating the economy and
help diversify sources of income as a final product for banks and
correct the structural distortion in the economy and its
transition from a rentier economy to a diversified economy.
This is a summary of the goals behind the increasing government interest in the banking sector, and
from here came the
realization of the importance of the banking sector in achieving sustainable development. In addition to that, the
launch of the Riyada Bank activity to support small projects within the goals of providing job opportunities for unemployed youth, as well as providing some market requirements for goods, merchandise, and products that reduce The import process, which absorbs foreign exchange... There is no doubt that
launching trading for the issuance of government bonds (Injaz) involves achieving the same reform and development goals and falls within the government’s interest in the banking sector, which will contribute to promoting, selling and trading them.
https://alsabaah.iq/106286-.html
Economical 11/26/2024
Yasser Al-Metwally
It is noted these days that there is a growing interest in the banking sector in general, both governmental and private
What does this trend mean?
This comes amidst a remarkable shift of attention towards the banking sector through the government allocating significant time in light of its heavy responsibilities,
which means its awareness that all economic activities, including the implementation of strategic projects and means of encouraging investment, require a solid banking sector to implement its economic programmes.
This moral support, which is represented by interest, requires taking steps to encourage banks to carry out their role to the fullest, represented by laws and procedures that guarantee the banking sector to push it towards implementing its required development programs.
The month of October of this year witnessed many important meetings between the government and representatives of the banking sector that discussed the requirements for revitalizing banks.
It is noteworthy that the focus was on the process of structuring Al-Rafidain Bank, which is the first bank in Iraq that the government relies on to play a development role equal to the size of its savings, especially since it is the repository for government savings as well as the public’s savings, which are no less important.
The goal is definitely to invest this money and put it into the labor market in a way that achieves speed.
Capital turnover that contributes to creating broad job opportunities by operating idle production sectors, workshops, factories, etc.
However, this interest was not limited to government banks, but rather extended to the same interest in private banks through meetings and discussion of their needs, whether by the government or the Central Bank of Iraq, and an attempt to overcome the challenges they face.
One of the results of this government movement, represented by paying attention to the government sector, and in parallel, is the completion and launch of the lending strategy, which comes to correct the path of random, unpurposeful loans.
This new strategy is relied upon to stimulate various important economic sectors, represented by directing loans towards the implementation of projects with a strategic dimension,
which contribute to stimulating the economy and
help diversify sources of income as a final product for banks and
correct the structural distortion in the economy and its
transition from a rentier economy to a diversified economy.
This is a summary of the goals behind the increasing government interest in the banking sector, and
from here came the
realization of the importance of the banking sector in achieving sustainable development. In addition to that, the
launch of the Riyada Bank activity to support small projects within the goals of providing job opportunities for unemployed youth, as well as providing some market requirements for goods, merchandise, and products that reduce The import process, which absorbs foreign exchange... There is no doubt that
launching trading for the issuance of government bonds (Injaz) involves achieving the same reform and development goals and falls within the government’s interest in the banking sector, which will contribute to promoting, selling and trading them.
https://alsabaah.iq/106286-.html
