The Central Bank announces the establishment of a new Iraqi bank
The Central Bank announces the establishment of a new Iraqi bank
2023-05-27 03:43
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, announced today, Saturday, the establishment of the Riyada Bank for Social Development. .
On the sidelines of the opening of the annual Iraqi banking conference organized by the Association of Private Banks, the governor said, “The initiatives of the Central Bank of Iraq are the largest in the history of Iraq,” revealing “the completion of new projects, including the establishment of the Riyada Bank for Social Development in line with the vision and initiative of the Prime Minister in the project.” Government (Riyada) to support youth.
And he stressed that “the bank will be the first in Iraq to take care of low-income people through soft loans and simple guarantees in support of the vulnerable segments, and diversify the non-oil economy through small and micro projects to activate the private sector and reduce unemployment and poverty rates,” noting that “the Central Bank of Iraq has put the final touches to prepare a strategy National Bank Lending.
And the governor noted, “The Central Bank of Iraq will launch a project to establish a center for money and business, and it will serve as an integrated city that includes the stock market, the business sector, and financial institutions.”
He explained, “The Central Bank is working to achieve an integrated structure, rules, and sustainable policies to overcome technical challenges, information security, and cybersecurity, and implement security and privacy measures to protect users and the public’s information.”
The Jordanian and Palestinian central bank governors participated in this conference, and a large presence of the Iraqi banking sector, in addition to dialogue sessions that talked about the directions of the Central Bank of Iraq in banking reform and development, in which the directors of the Central Bank of Iraq departments and the Iraqi Private Banks Association participated.
Central Bank of Iraq
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