Nusseiri confirms the success of the policies of the Central Bank in the development of the banking sector sector in 2017
Economy News _ Baghdad
The economic and banking advisor of the Association of Iraqi Private Banks Samir al-Nusairi said on Tuesday that the policies and procedures adopted by the Iraqi Central Bank and implemented by the Iraqi private banks, most notably the classification and evaluation of banks in accordance with their commitment and implementation of international standards in the rules and regulations of compliance and international accounting and combating money laundering and terrorism financing and management of credit risks and operational risks Liquidity and market and achieve the objectives of monetary policy in maintaining exchange rates and reduce inflation and stimulate economic growth and the construction of a solid banking sector is a clear and specific work program targets Boards ofdirectors of banks and executive departments, has proved successful at the level of re - confidence in the banking sector and financial internationally and locally .
The purpose of the above-mentioned policies in 2017 and developing them in 2018 is to address the negative remarks identified by the Central Bank during the field visits of the Governor and the Bank's team during this year to banks. This is a methodology for developing the banking practices and procedures aimed at upgrading the products and services to the level planned by the Bank. The Central Bank within the Strategic Action Points for the years (2016-2020), in order to achieve financial stability, financial coverage, investment of human capital, training and rehabilitation of human resources banking by the Center for Banking Studies in the Bank and the Association of Banks Which has been able to train 1700 employees in the areas of compliance and international standards and combating money laundering and financing of terrorism and in the field of modern banking technologies, which contributes to reducing the technical gap between Iraqi banks and Arab and foreign banks and thus re-confidence in the Iraqi banking sector and move to
The Governor of the Central Bank of Iraq, Ali Mohsen Alalak called in a letter addressed to the banks of the license and all formations of the Central Bank and the Association of Iraqi private banks, in the second half of this year to the need to adopt proactive control and field visits and exploration to identify the joints imbalances and the foundations of success and upgrading the Iraqi banking sector to The banking sector is solid and striving to stimulate best practices and rules that achieve stability, progress and advancement.