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CNN. Broadcasting From Comedy Central While Advising The Central Bank ! LINK Central Bank Governor: We Have Started Implementing The Banking Sector Reform Plan 15th October, 2020 The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, confirmed that a few days ago, he presented a vision to reform the reality of the country's banking sector to strengthen the financial stability system based on competition. The governor of the bank said in a statement reported by the newspaper "Al-Sabah" and its independent newspaper today, Thursday, that "the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals that it seeks to achieve and specified under its amended Law No. 56 of 2004, the most important of which is (guarantee) Domestic price stability and the promotion of a stable financial system based on competition), to continue achieving the strategic objectives set out in the 2016-2020 plan. The governor explains, “In order to do so, the bank recently proposed the terms of the reform paper for the banking sector, which has been initiated now, because of its importance in developing banking services and products in the next stage, and through it, the banking sector will be supported to advance its current reality. Of the specific criteria adopted by the bank and on the basis of which the operating banks were classified, ”indicating that“ this classification will be reviewed by the end of this year, and this will continue for the following semesters of the year.” The governor of the Central Bank says: “This step comes within the framework of enhancing confidence in the banking sector and improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.” Their conditions and the payment of their customers' dues, ”stressing that“ this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders owed by those banks.”