Al-Alaq: The Central Bank’s plan to address challenges in private sector lending operations
Al-Alaq: The Central Bank’s plan to address challenges in private sector lending operations
2025-06-04 01:18
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, stated on Wednesday that the Central Bank is seeking to address the challenges facing private sector lending.
This came in a speech he delivered at the launch of a workshop on the Central Bank of Iraq’s strategy to increase bank lending to the private sector in general and small and medium-sized enterprises in particular.
In his opening remarks at the workshop, Al-Alaq said the Central Bank’s plan is to address the challenges facing private sector lending by increasing coordination with relevant authorities to achieve the desired growth in projects and credit provided by the banking sector. He also called for establishing a unified classification for small and medium-sized enterprises (SMEs) and calling for the establishment of an administrative structure within government formations that is dedicated to and focused on these projects.
It is noteworthy that in May 2024, the Central Bank of Iraq launched the National Strategy for Bank Lending in Iraq for the period 2024-2029, which was prepared in cooperation with the German Agency for Development Cooperation.
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