Central Bank: Rafidain and Rasheed allocate two branches of the poor assets in prepa
Central Bank: Rafidain and Rasheed allocate two branches of the poor assets in preparation for liquidation
The governor of the Central Bank, Ali Alaak, that Rafidain Bank and Rashid allocated two branches of the poor assets in preparation for liquidation and the preparation of clean budgets.
"The Central Bank, in coordination with the Ministry of Finance, has given great attention to the development of government banks, especially the Rafidain and Rashid banks, with the aim of creating a strong, safe, transparent and developed government sector that operates in accordance with international banking standards," he said in an interview with the economy and business magazine.
He added that "the government banks hold 95% of the total banking services and owns about 65% of the total banking branches and hold 85% of the total credit in addition to bearing a large external debt to mediate by opening documentary credits."
He pointed out that "the process of restructuring government banks has come a long way and implemented the bulk of the paragraphs of the memorandum of understanding and plans of action attached to the latest draft law of government banks, which will be sent to the legislature."
He explained that "the Rafidain Bank and Rashid allocated two branches of their branches transferred to the poor assets of foreign debt inherited and the loss of war and others until the liquidation of a clean budget for each of the banks without debt and losses."