Central Bank proposes to IFC to establish leasing company
Central Bank proposes to IFC to establish leasing company
2024-12-11 | 05:14
The Governor of the Central Bank, Ali Al-Alaq, discussed today, Wednesday, the proposal to establish a leasing company with local and foreign participation, during his meeting with a delegation from the Finance Corporation International.
The Central Bank said in a statement received by SumerianNews, “The governor received a delegation from the Finance Corporation International The Director of the Financial Sector of the Foundation in the region, Yousef Habash, and Bilal Al-Zaghir, the Resident Representative in Iraq “Financial Investment Officer and Advisory Department Officer.”
He added that “during the meeting, they discussed strengthening bilateral relations between the Central Bank Iraqi and the finance institution International And the importance cooperation Between local banks and correspondent banks with technical support from the institution and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of companies International The
bank added that “the governor discussed the proposal to establish a leasing company with local and foreign participation, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.”
The Central Bank stated that “the meeting discussed the importance of launching Riyada Bank during the coming year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.”
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