Honoring the Governor of the Central Bank of Iraq
The information received from the Union of Arab Banks and based on special evaluation criteria indicates the selection of the Union of Arab Banks, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the best Arab, and was honored with a special celebration on the sidelines of the Arab International Banking Summit, In the French capital Paris under the patronage of the French Prime Minister and in the presence of ministers and governors of central banks and heads of boards of Arab, French and European banks and prominent economic, financial and banking personalities.
This honor is in fact a tribute to the Central Bank of Iraq and cadres, whose role was distinctive in support of the national economy in the near the difficult circumstances experienced by Iraq during the past three years.
The support provided by the Central Bank to the national economy during the economic and security shocks suffered by Iraq due to the economic and financial crisis and the war on terrorism is a bright spot and a success experience in a country that is going through harsh conditions and a historic phase which is the most difficult to face the economic and security challenges that no country in
As the team of the Central Bank proved their success in enhancing the economic steadfastness and achieving monetary stability through the efforts, procedures and applications of monetary policy and the development procedures of the Central Bank in the difficult economic stage of Iraq, where they were able to draw a strategy for the years (2016-2020) and a clear road map goals and the world has experienced. Such as Iraq.
ambitions to achieve stability Economic growth, financial inclusion, structural and institutional construction, and the optimal investment in human capital through important achievements achieved during the years 2015-2017. The most important of these is the maintenance of inflation by no more than 2% For a hundred and at the level of adequacy of foreign reserves within acceptable rates according to the latest cumulative standard by the International Monetary Fund 0 by 160 percent , which is considered high - adequacy ratio internationally as foreign reserves of Iraq stood up to $ 52 billion.
And the establishment of new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and management of credit and operational risks and the issuance of the law against money laundering 39 for the year 2015 and the development of payment systems and the application of all payments and retail by mobile phone and the establishment of the national division and work on the application of international standards In financial reporting in line with the principle of transparency and disclosure.
In addition, the Bank's efforts are exerted daily to stimulate financial inclusion and focus on the initiative to settle the salaries of employees in order to raise the financial coverage of the population who do not have accounts in the banking system, which actually rose from 11 percent to 22 percent, according to the World Bank Bulletin.
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