The 2018 Annual Conference of the Central Bank of Iraq .... The harvest of achievements and the start of the development process for the year 2019

The Central Bank will end 2018 by holding its fourth annual conference on 2018/12/10 under the slogan (Development Role of the Central Bank), which will discuss two key axes: the development dimension of monetary policy and the developmental role of the banking sector.

The conference comes at a time when the Iraqi people are looking to complete The ministerial cab of the new government and the start of the process of economic reform and economic stability, according to the government curriculum comes and the central bank is subjected to a campaign of malicious and unfair away from neutrality and equity and proper evaluation of the efforts made by the Central Bank in the The economic and security shocks are a confirmation of his success in achieving his annual plan for 2018 in supporting the national economy during the economic and financial crisis and the war on terror. The measures and policies he adopted constituted a bright spot and a successful success experience in a country that is going through harsh conditions and a historic phase that is the most difficult to meet the economic and security challenges. Which has not been passed by any country in the world during the past four years, such as Iraq, which has contributed significantly to the strengthening of economic steadfastness and the victory over terrorism.

Through the efforts and wise procedures and applications of monetary policy and development measures, the Bank was able to draw up its strategy for the years (2016-2020), which aims to achieve economic stability and stimulate the growth of fiscal and financial coverage and structural and institutional construction and investment in human capital optimization through the achievements of the most important: stability of the Iraqi dinar Against the US dollar and maintain the inflation rate of not more than 2% and the level of foreign reserves within the rates according to international standards, where the foreign reserves of Iraq amounted to 62 billion dollars and the third variant of the Arabs and rates Adequacy, exceeding 160% according to the latest international standard for measuring efficiency, stimulating the regulatory, supervisory and supervisory banking sector and establishing new units within the regulatory structures of banks such as compliance, combating money laundering, terrorist financing, credit and operational risk management, banking awareness, issuing money laundering law 39, 2015, And the establishment of the national division and work on the application of international standards in IFSR financial statements in line with the principle of transparency and disclosure, in addition to the Bank's efforts to promote daily work T financial inclusion and focus on the localization of the salaries of staff initiative for the purpose of raising the proportion of financial inclusion of the population who do not have accounts in the banking system and increase of 22.6 and activate the financing of small and medium enterprises initiative.

In order to restore confidence in the banking sector, the Central Bank re-evaluated and classified banks in accordance with international standards and standards in evaluating business results and measuring the efficiency of performance as well as establishing the deposit guarantee company in order to raise the savings rate at banks and reduce the percentage of housekeeping in the economy and thus activate the economy through activating investment, Organizational structure and development of the depository center in the Iraqi securities market and the establishment of a national credit center.

At the level of international banking relations, the Central Bank and the exceptional efforts of the Governor and his team have succeeded in restoring relations with Arab and foreign central banks and delivering the achievements of the past four years to the international financial institutions such as the Financial Action Group (FATF) (Gray) to normal follow-up. The visit of the Governor to the UN Security Council and his presentation of the achievements and organizational, structural and technical developments and compliance with international standards in financial reporting, Iraqi economy and Iraq's ability to comply with international credit benefits as the accolades of the World Bank and the IMF have had a clear impact in strengthening economic resilience and financial victory and move steadily towards financial sustainability.

That achieved in 2018 of the important achievements will make it start with the implementation of its plan for 2019 to re-evaluate banks and classification in line with international standards in measuring the efficiency of performance and activating the contribution of the banking sector in development and in community and humanitarian initiatives and to continue qualitative development procedures and build balanced relations with international and Arab banks and Consider the structure of the banking sector, which enhances the role of government and private banks in the transition from the role of banking to the developmental role.



* Economic and banking consultant


http://economy-news.net/content.php?id=14623

Iraq disrupts official time Monday on the occasion of the victory over the "Dahesh"

Tuesday, December 4



Alsumaria News / Baghdad
The Council of Ministers, on Tuesday, to disrupt the official working day next Monday on the occasion of the first anniversary of the declaration of victory over the organization "Daash."

In a statement issued by the government, Alsumaria News received a copy of the statement saying that "the Council of Ministers issued an official disbandment on Monday, 2018/12/10 on the occasion of the first anniversary of the declaration of victory on the organization of a supporter of the terrorist thanks to the blood of our martyrs and the brave heroes of all kinds."


The former commander of the armed forces, the former prime minister, announced on December 10, 2017, the liberation of all Iraqi territory from the organization "Daash" after the end of all the battles fought by the Iraqi forces against the joint terrorist organization.


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