Al-Nusairi: The participation of banks in the Baghdad International Fair boosts confidence in the banking sector

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Al-Nusairi: The participation of banks in the Baghdad International Fair boosts confidence in the banking sector

Economic News Agency - Al-Nusayri: The participation of banks in the Baghdad International Fair boosts confidence in the banking sector (economy-news.net)

 

  

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Economy News-Baghdad

The economic and banking adviser of the Association of Iraqi Private Banks Samir Al-Nusayri, Sunday, said that the wide and distinguished participation of the Central Bank of Iraq, the Association of Iraqi Private Banks, government and private banks and the Tamkeen Fund, which is supervised and managed by the Central Bank of Iraq and the Association in the 46th session of the Baghdad International Fair, enhances confidence in the Iraqi banking sector and documents economic and banking relations with foreign countries and Arab countries, especially the Gulf countries, and therefore these relations will contribute to joint cooperation and the creation of sober correspondent banks. For international banking, where 12 countries and 363 Arab, foreign and Iraqi companies participate in this course in all specialties and fields.

The wide and active participation of banks in the activities of the Baghdad International Fair comes with the distinguished presence of the Association and the authorized managers and their attempt to promote banking services, products and modern technical services provided by banks at present, especially the provision of financing loans to finance small, medium and housing projects within the initiative of the Central Bank to allocate 18 trillion dinars to stimulate the economic cycle, stimulate the economy, reduce the unemployment rate for graduates, professionals and craftsmen, achieve the societal goal of the banking sector as well as motivate the public to go To save at banks and reduce hoarding in homes and in unsafe places "with the aim of raising the rate of financial inclusion, which increased during this year to 33.5%.

He pointed out that "the visit of the public to the pavilions of the participating banks and to see the plans, procedures and services of the banks will contribute significantly to restoring confidence in them as they are sober national financial institutions and their deposits in them will be guaranteed by law, especially since the Deposit Guarantee Company has started its business."

Al-Nusairi called on "the concerned government agencies and the Ministry of Finance to implement the decisions of the Council of Ministers and the Economic Committee in the Council of Ministers on supporting private banks and creating a state of balance between the volume of deposits in government banks and the volume of deposits in private banks, which currently constitute only 13% of the total deposits, as well as the localization of salaries by ministries and concerned authorities to employees in banks in order to increase the ability of banks to grant cash credit of all kinds, in addition to involving the leaders and experts of the Egyptian sector in economic decision-making. Related to the banking sector and their involvement in official delegations and joint committees for economic cooperation with the countries of the world because without a sound banking sector it is not possible to build a healthy national economy."

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Added2022/11/06 - 12:4