Central contracts with international companies to "evaluate" the work of banks and show his commitment to the application of international standards

Author: AB, ASJ
Editor: AB
10/11/2016 10:11



Long-Presse / Baghdad

Revealed the central bank governor on the Keywords, Thursday, for the contracted bank with international companies to evaluate the work of banks, as he emphasized that dealing with the banks will be in accordance with those assessments, as he pointed to the keenness of the bank on the application of international standards on the subject of control, compliance and risk management.

Keywords and said in an interview with (long-Presse), "The banking sector in Iraq is a modern training sector and modern existence, grew up in unfavorable conditions and in an environment of a lot of challenges, but at the same time contain a lot of opportunities," noting that " ensure growth and stimulate the banking sector depend on the application of best practices globally agreed and made thanks to which countries in the banking sector. "

He added Keywords, that "the central bank's focus, today, on these criteria is very large and is trying to apply the best standards on the subject of control, compliance and risk management," revealing that "the bank has a big program on the subject began to evaluate the work of banks, through a contract with international companies , it gave indicators and figures for banks operating in Iraq. "

Keywords noted, that "the bank is employing these observations and used to correct these banks where it will be dealt in accordance with those standards, which will be issued against them in all banking activities of the Bank."

It consists of the banking system in Iraq (54) banks as well as the Central Bank and distributed by ownership between 7 state banks and 23 private banks, including commercial (9) Islamic banks in addition to the 15 branches of foreign banks.

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