The Central Bank decides to reassess the financial position of private banks

[Mary B]

The Central Bank decides to reassess the financial position of private banks

 3 hours ago

483

 

The Central Bank of Iraq announced that the bank’s board of directors decided to reassess the financial position of private banks.

The bank stated in a statement that "the Board of Directors of the Central Bank of Iraq decided in its recent session in September 2020 to re-evaluate the financial position of all private banks, by directing the departments concerned with this bank, by auditing and evaluating the capital of private banks and determining the percentage of deficit and the sources of those funds."

He explained that "the decision comes in line with the reform plan led by the management of this bank to create a real banking sector, consistent with the requests of depositors in dealing with these banks."

https://takadum-news.com/البنك-المركزي-يقرر-إعادة-تقييم-الموقف/

[Mary B]

Central Bank: a decrease in the percentage of cash and gold for the month of August

Sunday 04, October 2020 13:16 | EconomicalViews: 105

Baghdad / NINA / The Central Bank's financial position report issued for the month of August of the current year showed a decrease in the percentage of available cash and gold assets by 15% compared to July.

The Future Iraq Foundation quoted the bank as confirming that: the existing for the month of August was 18.9 trillion dinars, after it was worth 22.28 trillion dinars during the month of July of the current year. The ratio of cash and gold assets represents 17% of the total assets of the Central Bank.

The report also showed a decrease in the percentage of securities held by 3.29% to reach 38 trillion dinars, after it was 39.4 trillion dinars during the month of July of this year, so the ratio of securities to the total assets of the Central Bank is 34%

The report showed an increase in the Ministry of Finance's commitments to the Central Bank by 20% compared to the previous month, to reach 30 trillion dinars, after it was around 25 trillion dinars in the previous month.

As for the level of liabilities, the percentage of issued cash increased to reach 63 trillion dinars, an increase of more than 2% compared to the month of July, as the value of the exported value was 61.5 trillion dinars, representing 57% of the central bank's liabilities.

The value of bank deposits with the Central Bank decreased to reach 21.8 trillion, a decrease of 3.8% compared to the previous month, as the value of deposits at the bank was 22.6 trillion dinars and the percentage of bank deposits representing the total liabilities by about 20%

He continued that the high percentage of the Ministry of Finance's obligations towards the Central Bank and the decrease in the proportion of investments and real reserves indicates a decline in the value of the reserves because the Ministry of Finance is currently unable to commit to paying those sums to the Central Bank and thus leads to a reduction in the strength of the Iraqi currency and that the continued decline in reserves in exchange for higher obligations The Ministry of Finance will lead to weakening the stability of the Iraqi currency and has dangerous repercussions on the strength and stability of the Iraqi economy and may lead to an increase in inflation. / End 3

 

 

http://ninanews.com/Website/News/Details?Key=860723

[Mary B]

Deputy: Finance intends to borrow again from the central bank’s reserve

Editing date: 10/4/2020 10:43 • 79 read times

(Baghdad: Where's News) A member of the Parliamentary Finance Committee, Muhammad Sahib Al-Darraji, confirmed today, Sunday, that the Ministry of Finance wants to borrow again from the central bank’s reserve.

Al-Darraji said in a tweet to him on Twitter, that "in our hosting of the Ministers of Finance and Planning on September 10 in the House of Representatives about non-compliance with the borrowing law by submitting a reform paper, and they promised us to submit a draft by the end of September and a final version that is applicable in mid-October."



He continued, "For today, they did not present the draft. They want to borrow again from the central bank’s reserves."

http://www.alliraqnews.com/modules/news/article.php?storyid=101565

[Mary B]

Barham Salih discusses the financial crisis file with the new central bank governor

2020.10.04 - 14:13

lik

During his meeting with the Governor of the Central Bank ... the President of the Republic stresses the need to strengthen the financial situation of the country and preserve the independence of the Central Bank  

The President of the Republic, Dr. Barham Salih, received today, Sunday, October 4, 2020, the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Al-Kitab.  

At the outset of the meeting, the President of the Republic congratulated Mr. Al-Kitab on his assumption of the position of Central Bank Governor, wishing him success in performing his duties. During the meeting, the monetary and financial situation in the country was discussed in light of the current challenges.  

The President stressed the need for the independence of the Central Bank, strengthening the country's financial position by diversifying the state's resources and adopting a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and the decline in oil imports.  

For his part, the book reviewed the current functioning of the Central Bank regarding the financial and monetary situation, and the steps taken to reduce the economic repercussions, appreciating the President's support to achieve the goals of improving the financial and monetary situation and providing the necessary services to citizens.  

Information Office of the Presidency of the Republic
Sunday 10/4/2020  

 

https://www.nasnews.com/view.php?cat=41907

[Mary B]

A new decision from the Board of Directors of the Central Bank of Iraq

2020.10.04 - 11:25

lik

Baghdad - People  

The Central Bank of Iraq decided, on Sunday, to reassess the financial position of the country's private banks, in line with the reform plan.  

The bank stated in a statement that "People" received a copy of it (October 4, 2020), that “the Board of Directors of the Central Bank of Iraq decided in its recent session in September 2020 to reassess the financial position of all private banks, by directing the departments concerned with this bank, to audit and evaluate The capitals of private banks and determining the percentage of deficit and the sources of those funds.  

The statement added, "This decision comes in line with the reform plan led by the management of this bank to create a real banking sector, consistent with the requests of depositors in dealing with these banks."  

https://www.nasnews.com/view.php?cat=41894

[Mary B]

Al-Darraji: The Finance Ministry wants to borrow again from the central bank’s reserves

 

 

 

A member of the Parliamentary Finance Committee, Representative Muhammad Sahib Al-Darraji, confirmed today, Sunday, that the Ministry of Finance wants to borrow again from the Central Bank's reserve.

Al-Darraji wrote in his tweet on Twitter, "When we were hosted by the Ministers of Finance and Planning on September 10 in the House of Representatives about non-compliance with the borrowing law by submitting a reform paper, and they promised us to submit a draft by the end of September and a final version applicable in mid-October."

He continued, "For today, they did not present the draft. They want to borrow again from the central bank’s reserves."

Earlier, Finance Minister Ali Abdul-Amir Allawi said that paying employees' salaries is a matter related to the House of Representatives voting on the borrowing law, stressing that this step would address the current deficit in the country. 

https://www.thebaghdadpost.com/ar/Story/202323/الدراجي-وزارة-المالية-تريد-الاقتراض-مجددا-من-احتياطي-البنك-المركزي

[Mary B]

Barham Salih discusses the financial crisis file with the new central bank governor

 

 

 

The President of the Republic, Barham Salih, stressed today, Sunday, the need to strengthen the financial situation of the country and maintain the independence of the Central Bank.  
The media office of the President of the Republic said in a statement that, "Today, 2020, President Barham Salih received the Governor of the Central Bank of Iraq, Mustafa Ghaleb Al-Kitab."  
According to the statement, the President of the Republic congratulated Mustafa on his assumption of the position of Central Bank Governor, wishing him success in performing his duties. During the meeting, the monetary and financial situation in the country was discussed in light of the current challenges.  
Saleh stressed, "the need for the independence of the central bank, and strengthening the country's financial situation by diversifying the state's resources and pursuing a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic and low oil imports."  
For his part, the book reviewed, "the current functioning of the Central Bank on the financial and monetary situation, and the steps taken to reduce the economic repercussions, appreciating the President's support to achieve the goals of improving the financial and monetary situation and providing the necessary services to citizens."  

https://www.thebaghdadpost.com/ar/Story/202326/برهم-صالح-يناقش-ملف-الأزمة-المالية-مع-محافظ-البنك-المركزي-الجديد

[Mary B]

The central bank’s sales of the dollar rise .. Will it try to reduce the exchange rates after they have risen?

2020-10-04

Yes Iraq: Baghdad

The Central Bank of Iraq announced the sale of 182,096,000 dollars within the foreign currency sale window on Sunday, October 4, 2020.

The data reported by the bank on its official website showed that the total sale for purposes of enhancing funds abroad (transfers, credits) amounted to 165,996,000, while the total cash sale amounted to 16,100,000 dollars.

Thus, the total sales for this day is 182,096,000.

This indicates an increase in the sales amounts compared to the auction that was held on the first Thursday of October 2020, where the total sales amounted to 174,320,000 dollars, of which 165,920,000 were for the purpose of enhancing funds abroad (transfers, credits), and 8,400,000 total cash sales

The bank explained that the sale price of the sums transferred to bank accounts abroad is (1190) dinars per dollar, while the cash sale price is (1190) dinars per dollar.

https://yesiraq.com/ارتفاع-مبيعات-البنك-المركزي-من-الدولا/

[Mary B]

Parliamentary Finance: The government violated the law by spending huge sums of money from borrowing outside the legal framework

14:44 - 10/03/2020

 

  

Information / Special ...

The Parliamentary Finance Committee announced, on Saturday, that the government is seeking to secure the salaries of employees in various ways to protect itself from legal accountability, indicating that the government has violated the law by spending huge sums of money from borrowing outside the legal frameworks.

A member of the Finance Committee, Abdul Hadi Saadawi, told / Al-Maamouma / that "there is a deficit of 20% to secure the salaries of the month of September despite the release of the retirement salaries."

He added, "The government is working to secure the deficit in various ways, including borrowing, and not opening the door for previous borrowing money for fear of legal accountability," noting that "Al-Kazemi and the Minister of Finance spent money outside the constitutional and legal frameworks."

He explained, "Among those funds is the launch of the sums of the investment budget for the Kurdistan region, although oil imports have not been delivered at a time when the southern governorates did not receive even the amounts of the operational budget."

https://www.almaalomah.com/2020/10/03/498180/

[Mary B]

Central Bank: a decrease in the percentage of cash and gold for the month of August

Sunday 04, October 2020 13:16 | EconomicalViews: 241

Baghdad / NINA / The Central Bank's financial position report issued for the month of August of the current year showed a decrease in the percentage of available cash and gold assets by 15% compared to July.

The Future Iraq Foundation quoted the bank as confirming that: the existing for the month of August was 18.9 trillion dinars, after it was worth 22.28 trillion dinars during the month of July of the current year. The ratio of cash and gold assets represents 17% of the total assets of the Central Bank.

The report also showed a decrease in the percentage of securities held by 3.29% to reach 38 trillion dinars, after it was 39.4 trillion dinars during the month of July of this year, so the ratio of securities to the total assets of the Central Bank is 34%

The report showed an increase in the Ministry of Finance's commitments to the Central Bank by 20% compared to the previous month, to reach 30 trillion dinars, after it was around 25 trillion dinars in the previous month.

As for the level of liabilities, the percentage of issued cash increased to reach 63 trillion dinars, an increase of more than 2% compared to the month of July, as the value of the exported value was 61.5 trillion dinars, representing 57% of the central bank's liabilities.

The value of bank deposits with the Central Bank decreased to reach 21.8 trillion, a decrease of 3.8% compared to the previous month, as the value of deposits at the bank was 22.6 trillion dinars and the percentage of bank deposits representing the total liabilities by about 20%

He continued that the high percentage of the Ministry of Finance's obligations towards the Central Bank and the decrease in the proportion of investments and real reserves indicates a decline in the value of the reserves because the Ministry of Finance is currently unable to commit to paying those sums to the Central Bank and thus leads to a reduction in the strength of the Iraqi currency and that the continued decline in reserves in exchange for higher obligations The Ministry of Finance will lead to weakening the stability of the Iraqi currency and has dangerous repercussions on the strength and stability of the Iraqi economy and may lead to an increase in inflation. / End 3

 

https://ninanews.com/Website/News/Details?Key=860723

[Mary B]

The President of the Republic stresses the need for the independence of the Central Bank and the strengthening of the country's financial position

Sunday 04, October 2020 14:20 | EconomicalViews: 137

Baghdad / NINA / The President of the Republic, Barham Salih, stressed the need for the independence of the Central Bank and the strengthening of the country's financial position.

According to a presidential statement , the Iraqi National Agency for News / received Nina / copy of it, the President of the Republic Barham Saleh met on Sunday in the palace of Baghdad, the central bank governor of the Iraqi Mustafa Ghalib book. "

At the outset of the meeting , congratulated the President of the Republic, a book on the occasion of his accession to the post of Governor of the central bank, He wished him success in performing his duties, and during the meeting discussed the monetary and financial situation in the country in light of the current challenges. The

President of the Republic stressed the need for the independence of the Central Bank, and the strengthening of the country's financial position by diversifying the state’s resources and following a balanced monetary policy, and taking all measures to combat corruption Administrative and financial, especially in the current circumstances in which the country is facing the Corona pandemic, and the decline in oil imports. "

For his part, the book reviewed the steps taken to limit the economic repercussions, appreciating the President's support to achieve the goals of improving the financial and monetary situation and providing the necessary services to citizens ./ End 2

https://ninanews.com/Website/News/Details?Key=860732

[Mary B]

Governor of the Central Bank: We are determined to implement the reform plan to promote the work of the banking sector

 

Economy News - Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb, confirmed that the Central Bank is determined to implement the reform plan that contributes to the promotion of the banking sector. A press statement issued by the Central Bank said, "Al-Iqtisad News" received a copy of it. The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mkhaif, met the President of the Republic, Dr. Barham Salih, today, Sunday. According to the statement, the President of the Republic congratulated the Governor of the Central Bank who took the position, wishing him success in performing his duties. The governor of the bank stressed during the meeting that this bank is determined to implement the reform plan that would help in the promotion of the Iraqi banking sector in light of the current challenges to serve the country's economy.   For his part, the President of the Republic stressed the need for the independence of the Central Bank, the strengthening of the country's financial position by diversifying the state's resources and following a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and the decline in oil imports

Number of observations 101   Date of addendum 10/4/2020 https://economy-news.net/content.php?id=22110

[Mary B]

Parliament summons officials in finance to investigate the fate of the money outlets, taxes and customs

18:52 - 10/04/2020

 

  

Information / Special ...

On Sunday, the Parliamentary Finance Committee revealed its move to summon all officials in the Ministry of Finance to determine the state's revenues from ports, taxes and customs, and the fate of these funds.

A member of the Finance Committee, Mahasin Hamdoun, told Al-Maalouma that "the government confirmed, upon its formation, the existence of a plan to maximize imports and present a reform paper to Parliament to determine its work."

She added, "The government maximized imports at ports, taxes and customs, and did not present a reform paper, in addition to announcing from time to time a financial crisis, its bankruptcy and its need for loans."

Hamdoun explained that "the Finance Committee will summon all officials in the Ministry of Finance to find out the fate of those funds and where the imports of ports, customs and taxes were spent."

https://www.almaalomah.com/2020/10/04/498412/

[DinarThug]

5 hours ago, Mary B said:

The Central Bank decides to reassess the financial position of private banks

 3 hours ago

483

 

The Central Bank of Iraq announced that the bank’s board of directors decided to reassess the financial position of private banks.

The bank stated in a statement that "the Board of Directors of the Central Bank of Iraq decided in its recent session in September 2020 to re-evaluate the financial position of all private banks, by directing the departments concerned with this bank, by auditing and evaluating the capital of private banks and determining the percentage of deficit and the sources of those funds."

He explained that "the decision comes in line with the reform plan led by the management of this bank to create a real banking sector, consistent with the requests of depositors in dealing with these banks."

https://takadum-news.com/البنك-المركزي-يقرر-إعادة-تقييم-الموقف/

 

LINK

The Central Bank decides to reassess the financial position of private banks

 

4th October, 2020

The Board of Directors of the Central Bank decided, on Sunday, to reassess the financial position of private banks.

A council statement, of which Mawazine News received a copy, stated that “the Board of Directors of the Central Bank of Iraq decided in its recent session in September 2020 to re-evaluate the financial position of all private banks, by directing the departments concerned with this bank, by auditing and evaluating the capital of private banks and determining The percentage of deficit and the sources of that money."

The statement stated, "The decision comes in line with the reform plan led by the management of this bank to create a real banking sector, consistent with the requests of depositors in dealing with those banks." 

###########

The Central Bank decides to reassess the financial position of private banks  LINK 

[NMP2017]

Well it shouldn't take the CBI too long to reassess Warka's finances since they have been working for 5 YEARS with Warka on a "Get Well Plan". The CBI should know Warka finances inside out,,,

[Mary B]

 

An agreement between Egypt, Jordan and Iraq on the first steps for partnership in 4 industrial sectors

Nevin Jama, Egyptian Minister of Trade and Industry

 04 October 2020 06:35 PM

Cairo - Mubasher: The ministers of industry and trade in Egypt, Jordan and Iraq held a tripartite meeting today, Sunday, via video conference technology, as part of the follow-up to the outcomes of the tripartite summit that was held in Amman on the twenty-fifth of last August and brought together President Abdel Fattah El-Sisi, King Abdullah II and Iraqi Prime Minister Mustafa Al-Kazemi.

The Egyptian Ministry of Trade and Industry stated in a statement today, Sunday, that after in-depth discussions and discussions between the three ministers, the importance of expediting the development and implementation of plans necessary to enhance joint cooperation in all fields with the aim of achieving strategic integration, especially in the economic, commercial and investment fields, and translating what During the tripartite summit, they discussed projects on the ground that serve the interests of the three brotherly countries.

This came in the presence of Nevin Jama, Minister of Trade and Industry, Tariq Al-Hammouri, Jordanian Minister of Industry, Trade and Supply, and Manhal Aziz Al-Khabaz, the Iraqi Minister of Industry and Minerals, as well as the Secretary-General of the Jordanian Ministry of Industry, Trade and Supply Yusef Al-Shamali and a number of stakeholders from the three countries, according to the Middle East News Agency.

The Egyptian industry indicated that a number of decisions were taken to enhance integration and economic, commercial and investment cooperation. Four sectors were targeted in the first phase to enhance tripartite cooperation, including the pharmaceutical, chemical, textile and ceramic industries.

The Egyptian Minister of Trade and Industry pointed out that it was agreed that each country would prepare lists of the names of companies and investors interested in building partnerships in these fields and provide other countries with them within 10 days from the date of the meeting.

 

 

 

 

 

 

 

 

 

Volume 0%

 

 

 

 

She added that it was agreed to hold an expanded ministerial meeting soon for the three countries, including the ministers of industry and trade, water and irrigation, education, agriculture, housing, electricity, in addition to the customs departments of the three countries, and to start preparing for this meeting, which aims to discuss the implementation of the recommendations of the tripartite summit and set a timetable for projects. Cooperation to be agreed upon.

Nominations ...

https://www.mubasher.info/news/3702828/اتفاق-بين-مصر-والأردن-والعراق-على-أولى-خطوات-الشراكة-في-4-قطاعات-صناعية/

[Mary B]

The President of the Republic to the Governor of the Central Bank: All measures must be taken to combat administrative and financial corruption

economic news

 

October 4, 2020

 

admin

  41

And brother of Baghdad

The President of the Republic, Dr. Barham Salih, met today, Sunday, with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, to discuss the independence of the Central Bank, and to strengthen the country's financial position by diversifying the state’s resources and following a balanced monetary policy.

The President of the Republic congratulated the Governor of the Central Bank for assuming the position, wishing him success in performing his duties.
The Governor of the Bank stressed during the meeting that this bank is determined to implement the reform plan that would help upgrade the Iraqi banking sector in light of the current challenges to serve the country's economy.

For his part, the President of the Republic stressed the need for the independence of the Central Bank, strengthening the country's financial position by diversifying the state's resources and adopting a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and low oil imports.

 

https://khabaar.press/archives/75880

[Mary B]

A deputy calls for the central bank governor to reconsider the classification of banks and the performance of the director of the banking department

12:30 - 05/10/2020

 

  

The information / Baghdad ..
A member of the Parliamentary Integrity Committee, Alia Nassif, on Monday called on the governor of the Central Bank to review the bank classification mechanism, which placed the limited activity banks at the top of the list, calling at the same time to re-evaluate the performance of the Director of the Banking Department due to the presence of favoritism and suspicions of corruption in his department. .
Nassif said in a statement that the information received, a copy of it, that “It is regrettable that the bank classification mechanism came upside down, as it placed the banks with limited activity in the higher classification, and the multi-activity banks that contributed to development and investments in the lower classification. This issue is not easy and is not limited to being Just a classification. Rather, it affects the economy directly in terms of granting confidence to ineffective banks at the expense of active and influential banks in the investment movement. ”
On the other hand, Nassif, the governor of the Central Bank, called for a “reassessment of the performance of the director of the banking department due to the existence of favoritism and suspicions of corruption in his department,” adding, “We have information on corruption cases that we will announce to the Iraqi public opinion after verification.” End / 25

https://www.almaalomah.com/2020/10/05/498495/

[Mary B]

  Central Bank: Direct implementation of steps to reform the banking sector

 

Economy News - Baghdad The Central Bank announced, on Monday, that it will implement its first "reform steps" for the banking sector, indicating that the classification of private commercial and Islamic banks operating in Iraq has been completed according to a set of international standards, in addition to a number of standards approved by the bank. "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," the bank added in a statement. He emphasized that he had previously asked "the lagging banks more than once to work on correcting their situation and paying their customers' dues. Therefore, this classification will be an opportunity for those banks to prove their seriousness in achieving reform requirements and pay the dues to depositors and shareholders." He continued, "The next stage will include the process of reforming government banks as well, noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. 56 of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued according to them."

Number of observations: 114   Date of addendum 10/05/2020 https://economy-news.net/content.php?id=22116

[Mary B]

A deputy calls on the governor of the Central Bank to reconsider the classification of banks and the performance of the Director of the Banking Department

economic news

 

October 5, 2020

 

 

  

And brother of Baghdad

Representative Alia Nassif called on the Governor of the Central Bank to review the bank classification mechanism, which placed limited activity banks at the top of the list, calling at the same time to re-evaluate the performance of the Director of the Banking Department due to the existence of favoritism and suspicions of corruption in his department.

Nassif said in a statement today, Monday, and “Khabar Press” received a copy of it, “It is regrettable that the banks’ classification mechanism came upside down, as it placed the banks with limited activity in the higher classification, and the multi-activity banks that contributed to development and investments in the lower classification. As it is only a classification, it affects the economy directly in terms of granting confidence to ineffective banks at the expense of active and influential banks in the investment movement.

On the other hand, Nassif, the governor of the Central Bank, called for a “reassessment of the performance of the director of the banking department due to the existence of favoritism and suspicions of corruption in his department,” adding, “We have information on corruption cases that we will announce to the Iraqi public opinion after verification.”

https://khabaar.press/archives/75926

[Mary B]

The Central Bank launches a reform campaign in the banks

by EditorEconomyOne Hour ago

The Central Bank of Iraq announced the launch of a reform campaign in the domestic banking sector aimed at enhancing confidence in the banking sector and improving the quality of services.

In a statement, the central bank called on the lagging banks to work on correcting their situation and paying citizens' dues, stressing that the next stage will include the process of reforming government banks as well.

https://altaghier.tv/2020/10/05/البنك-المركزي-يطلق-حملة-إصلاحية-في-الم/

[Mary B]

The Central Bank of Iraq begins implementing steps to reform the banking sector

 

Central Bank of Iraq logo

IPhoto: Archive

 

5 hours ago

1159 Views

 Share

 Tweet

 

Digital Media NRT

The Central Bank of Iraq announced, on Monday, the implementation of its first reform steps for the private banking sector .

The Central Bank stated, in a statement today, October 5, 2020, that it “has started implementing its first reform steps for the banking sector, as it has finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank.” .

"This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector," he added.

The bank stressed that "it has previously asked banks that are lagging more than once to work on correcting their conditions and paying their customers' dues. Therefore, this classification will be an opportunity for those banks to prove their seriousness in achieving reform requirements and pay the dues of depositors and shareholders."

He explained that "the next stage will include the process of (reforming government banks as well)," indicating that "the reform measures that have been adopted depend mainly on the Central Bank Law No. (56) of 2004 and the Iraqi Banking Law No. (94) of 2004 and the instructions and controls issued pursuant to them."

https://www.nrttv.com/Ar/News.aspx?id=33123&MapID=5

[Mary B]

The Central Bank announces the initiation of the 'banking sector reform' process

05/10/2020

lik

Baghdad - People  

On Monday, the Central Bank of Iraq announced the implementation of steps to reform the banking sector.  

The bank said in a statement that "People" received a copy of it (October 5, 2020), that it "has started implementing its first reform steps for the banking sector, as it has finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of approved standards. I have this bank. "  

He added, "This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector."  

The bank confirmed that "it has previously asked banks that are lagging more than once to work on correcting their conditions and paying their customers' dues. Therefore, this classification will be an opportunity for those banks to prove their seriousness in achieving reform requirements and pay the dues of depositors and shareholders."  

He pointed out, "The next stage will include the process of reforming government banks as well, noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. 56 of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued pursuant to them."  

https://www.nasnews.com/view.php?cat=41963

[Mary B]

Iraqi Central Bank ends classification of commercial and Islamic banks and prepares for government

 2020-10-05 01:10
  
The Central Bank of Iraq announced on Monday that it had completed the classification of commercial and Islamic private banks operating in the country as part of steps it is taking to reform the banking sector, noting that the process of "reforming government banks" will begin soon.

The central bank said in a statement to Shafq News that it "has begun today to implement its first reform steps for the banking sector," noting that it "has completed the classification of commercial and Islamic private banks operating in Iraq in accordance with a set of international standards as well as a number of standards adopted by this bank."

"This step is part of strengthening confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector," he said.

The bank stressed that "banks have already been asked to work more than once to correct their situation and pay their customers' dues," pointing out that "this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and payment of the dues of depositors and shareholders."

"The next phase will include the reform of government banks as well," the central bank said, adding that "the reform measures adopted depend mainly on the Central Bank's Law No. (56) of 2004 and the Iraqi Banking Act No. (94) for the year 2004."

https://shafaq.com/ar/اقتصـاد/المركزي-العراقي-ينهي-تصنيف-المصارف-التجارية-وال-سلامية-الخاصة-ويتهي-للحكومية

[Mary B]

bump