Nusseiri confirms the success of the policies of the Central Bank in the development of the banking sector sector in 2017

The economic and banking advisor of the Association of Iraqi Private Banks Samir al-Nusairi said on Tuesday that the policies and procedures adopted by the Iraqi Central Bank and implemented by the Iraqi private banks, most notably the classification and evaluation of banks in accordance with their commitment and implementation of international standards in the rules and regulations of compliance and international accounting and combating money laundering and terrorism financing and management of credit risks and operational risks Liquidity and market and achieve the objectives of monetary policy in maintaining exchange rates and reduce inflation and stimulate economic growth and the construction of a solid banking sector is a clear and specific work program targets Boards of directors of banks and executive departments, has proved successful at the level of re-confidence in the banking sector and financial internationally and locally.

Al-Nasiri said in an interview with "Economy News" that "the purpose of the policies adopted above in 2017 and develop them in 2018 is to address the negative remarks identified by the Central Bank during the field visits of the Governor and the Bank's team during this year to banks. Which were achieved by the banks with a view to upgrading the banking products and services to the level planned by the Central Bank within the Strategic Action Points for the years (2016-2020), in order to achieve financial stability, financial coverage, investment of human capital, training and rehabilitation of human resources by The banking studies in the bank and the Association of Iraqi Private Banks, which has been able to train 1700 employees in the fields of compliance and international standards, combating money laundering and financing of terrorism and in the field of modern banking technologies, which contributes to reducing the technical gap between Iraqi banks and Arab and foreign banks and thus restore confidence in the Iraqi banking sector and transition To an advanced banking sector that contributes to the sustainable development and provides services to the national economy as the first link finance and investment in the economy.

The Governor of the Central Bank of Iraq, Ali Mohsen Alalak called in a letter addressed to the banks of the license and all formations of the Central Bank and the Association of Iraqi private banks, in the second half of this year to the need to adopt proactive control and field visits and exploration to identify the joints imbalances and the foundations of success and upgrading the Iraqi banking sector to The banking sector is solid and striving to stimulate best practices and rules that achieve stability, progress and advancement.

https://economy-news.net/content.php?id=9931