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The Central Bank announces the launch of the banking supervision reporting system Economy News Agency - The Central Bank announces the launch of the banking supervision reporting system (economy-news.net) Economy News - Baghdad On Thursday, the Central Bank of Iraq announced the launch of the Banking Supervision Reporting System (BSRS). "The new system will collect financial data from banks and non-banking financial institutions represented in (quarterly data tables for banks, mandatory reserve reservation tables, trial balance tables for non-bank financial institutions, liquidity and capital adequacy tables, and financial inclusion data), as well as the data of the permanent record of each bank or non-banking financial institution approved by this bank, and unify the database of codes of these banks, companies and their branches," the bank said in a statement. "The system provides the Banking Control Department and the various departments of the bank with a clear perception of the financial situation of financial institutions by relying on the capabilities provided by modern technology in downloading and auditing data, which enables regulatory authorities to monitor the financial soundness of banks and non-banking financial institutions faster and more accurately, and enables the bank to address potential risks within financial institutions," the bank explained. The statement added that "the launch of the Banking Supervision Reporting System (BSRS) comes in implementation of the strategic objectives set by the Central Bank of Iraq in developing institutional performance, upgrading banking control tools and reducing risks through the adoption of regulatory technologies and automating the events and functions carried out by the Central Bank and its departments to regulate the work of the Iraqi banking sector." 7 Views Added 2023/04/27 - 12:37 PM
