The Central Bank: Many Iraqi banks have begun to expand outside the country
The Central Bank: Many Iraqi banks have begun to expand outside the country
2021-12-12 07:36
Shafaq News/ The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, opened today, Sunday, the activities of the Iraqi Banking Week in the Iraq Pavilion at Expo 2020 Dubai.
The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.
The Governor of the Central Bank said, in a speech during the launching ceremony of the events, that: The launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed significantly to the development of the banking sector.
He explained that there are many Iraqi banks that began expanding outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.
The governor noted that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.
On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank’s policy that contributed to the development of the banking sector.
Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.
In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country’s economy.
He pointed out that the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.
It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.
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