Central and editing the connector

[6ly410]

Central and editing the connector

Tuesday 14 July 2020 154

https://alsabaah.iq/27665/المركزي-وتحرير-الموصل

 

Samir Al-Nassery 

 

In the midst of the new economic and financial crisis and efforts to confront the Corona virus in its third stage of spread and the international economic conditions and challenges facing Iraq, the latest of which is the European Union's truth report considering Iraq among the high-risk countries in the field of money laundering and terrorist financing.

 

The third anniversary of the liberation of Mosul passes through the solidarity of our security forces of all kinds and the cohesion of our people with all their spectrums. The important thing here is that in order not to pass the lessons learned from victory and liberation without recalling them, we must make it clear from the axioms that a military victory cannot be achieved without the presence of economic support and support in complicated economic conditions that spanned the years (2015-2018) and the supporting army was Our armed forces is the Central Bank of Iraq (the National Economic support Army).

The support provided by the central bank to the national economy during the economic and financial crisis, the war on terrorism, the liberation of Mosul, Anbar, and Salah al-Din is a bright spot and a success experience in a country that is going through harsh conditions and a historical stage that is the most difficult in facing economic and security challenges that no country in the world like Iraq has gone through , As it contributed significantly to strengthening economic resilience and achieving the victory victory over terrorism and achieving monetary stability and financial victory. The wise efforts, procedures, applications of monetary policy and developmental measures for the central bank in the difficult economic phase of Iraq, as the bank was able to draw its strategy for the years (2016-2020) in achieving stability in the financial system and stimulating economic growth, financial inclusion, structural and institutional building and optimal investment in human capital through achievements The most important task:

Supporting the state treasury up to 20 trillion dinars and maintaining the stability of the Iraqi dinar exchange rate and maintaining a balanced rate of prices as well as maintaining the annual base rate of inflation at

Not exceeding 2 percent, and at a level of foreign reserves within acceptable levels according to international standards, and its foreign reserves are still in the range of 68 billion dollars. And stimulate the banking sector organizationally, supervisory and control, and the establishment of new units within the organizational structures of banks, such as compliance, combating money laundering and terrorist financing, managing credit and operational risks, issuing the Money Laundering Law No. 39 of 2015, establishing the Anti-Money Laundering and Terrorist Financing Council, developing payment systems, applying all retail and mobile payments, establishing The national exchange and work to implement international standards in financial reports in line with the principle of transparency and disclosure.

In addition to this, the bank’s efforts exerted on a daily basis to stimulate financial inclusion operations and focus on the initiative to localize employee salaries in order to raise the financial inclusion rate for residents who do not have accounts in the banking system and for the purpose of restoring confidence in the banking sector, the bank has re-evaluated and classified banks according to international standards and standards in evaluating business results Measurement of performance efficiency, as well as the establishment of a deposit guarantee company with the aim of raising the percentage of savings in banks and reducing the percentage of hoarding in homes, thus stimulating the economy by activating investment and bank financing and taking regulatory and structural measures and creating a deposit center in the Iraq Stock Exchange and establishing a national center for credit inquiries.On the level of international banking relations, the Central Bank was able, with exceptional efforts, to restore and strengthen relations with Arab and foreign banks and to communicate the accomplishments achieved during the years 2015-2018 to the ruling international financial institutions such as the Financial Action Group (FATF), as some 700 notes installed on the financial situation in Iraq were liquidated Which contributed to the transition of Iraq’s classification from gray to periodic regular follow-up, and the call of the Governor to the Security Council and his presentation of organizational and structural and technical achievements and developments and compliance with international standards in financial reporting and enhancing confidence in the Iraqi economy and the ability of Iraq to adhere to international credit entitlements, and the World Bank and Monetary Fund praises The international has had a clear impact on strengthening economic resilience, financial triumph and a steady step towards financial sustainability.

It is a clear and transparent response to the recent EU report. In the current circumstance, the Iraqis celebrate the anniversary of the liberation of Mosul, I call on the national media to reinforce the exceptional efforts made by the fathers Iraqis as they fight terrorism and build the new Iraq at the same time to shed light on the economic success experiences that achieved the economic resilience that was previously led and currently led by the Central Bank of Iraq

[Spartakus]

Based on a guru who can read Arabic Alak's last day as CBI governor is tomorrow. I hope that is the truth.