Official: CBI News 04/26/2023

[yota691]

Press release on the occasion of the Arab Financial Inclusion Day - April 25, 2023

 

  

April 26, 2023

 

Press release issued by: The Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions ( Arab Day for Financial Inclusion - April 25 , 2023 ) Under the slogan: " Enhancing financial inclusion to support efforts to confront the repercussions of climate change ".. For information, click here

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[6ly410]

Al-Alaq affirms the Central Bank's support for the government program in finding sustainable solutions to reduce the impact of climate change

Thursday 27, April 2023 11:15 | EconomicalNumber of readings: 199

Al-Alaq affirms the Central Bank's support for the government program in finding sustainable solutions to reduce the impact of climate change (ninanews-com.translate.goog)

Bagdad (Nina) - The Governor of the Central Bank of Iraq Ali Mohsen Al-Alaq on Thursday affirmed the Central Bank's support for the government program in finding sustainable solutions to reduce the impact of climate change, while pointing to enhancing inclusion in financing the green economy. In a speech on the occasion of the Financial Inclusion Week, Al-Alaq said: "The Central Bank supports the government program in finding sustainable solutions to reduce or reduce climate change and desertification."

He continued: "From this standpoint, we have launched an initiative to finance renewable energy projects, and we are working to urge the financial and banking sector to support projects and sectors that contribute to the services of environmentally friendly products."
On the Arab Day for Financial Inclusion, under the slogan of enhancing financial inclusion to support efforts to confront the repercussions of climate change, the Central Bank of Iraq seeks to enhance financial inclusion by taking the necessary measures to finance the green economy. -Alaq added.
He pointed out that "in conjunction with the recommendations of the Iraqi Climate Conference to reduce climate risks to the country, international data has ranked Iraq among the five countries most affected in the world by climate change."

[yota691]

Next week .. the launch of a new experience in the world of government and private banking

• Time: 04/27/2023 12:29:19
•  
• Read: 1,586 times

  

{Economic: Al Furat News} Next week, financial inclusion activities will start under the auspices of the Central Bank of Iraq and the Association of Private Banks.

The banking sector is preparing to participate in the activities of the Financial Inclusion Week, to be launched next week, under the auspices of the Central Bank of Iraq and the Association of Private Banks.

Many governmental and private banks participate in the events, which showcase banking services to customers, the use of electronic payment tools, pos devices, and the culture of electronic payment, which the government seeks to generalize the experience to all private and public sector institutions.

[yota691]

Governor of the Central Bank: We seek to enhance the concept of financial inclusion and green economy financing

 

drains
   

Economy News _ Baghdad
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that on the Arab Day for Financial Inclusion, and under the slogan (promoting financial inclusion to support efforts to confront the repercussions of climate change), the Central Bank seeks to enhance financial inclusion by taking the necessary measures to finance the green economy.

 

Al-Alaq said in a speech on the occasion of the week of financial inclusion, which was seen by "Al-Iqtisad News", that the Central Bank seeks to enhance the concept of financial inclusion and financing the green economy, and this comes in conjunction with the recommendations of the Iraq Climate Conference to reduce the risks of climate change to the country. International data has classified Iraq as one of the Five countries most affected in the world by these changes.

 

He added that the bank supports the government program in finding sustainable solutions to reduce climate change and desertification, and from this standpoint we have launched an initiative to finance renewable energy projects, indicating that the bank is working to urge the financial and banking sector to support projects and sectors that contribute to providing environmentally friendly services and products. 

 

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Views 95

Added 04/27/2023 - 10:27 AM

[yota691]

Arab Monetary Fund: Promoting financial inclusion helps to face the challenges of poverty and unemployment

 

money and business
   

Economy News - Baghdad
Today, Thursday, the Secretariat of the Board of Governors of Arab Central Banks and Monetary Institutions issued a statement on the occasion of the Arab Financial Inclusion Day, noting that the total issuance of green bonds and sukuk related to sustainable activities amounted to $5.5 billion in Arab countries over the past year.

 

In its statement, the secretariat said, "The issue of enhancing access to finance and financial services in the Arab countries receives great attention from the Board of Governors of Central Banks and Arab Monetary Institutions, in recognition of the potential and great opportunities that can be achieved through enhancing financial inclusion to support comprehensive and sustainable economic development and confront the challenges of unemployment."

 

There is no doubt that enhancing financial inclusion plays an important role in supporting efforts to confront the repercussions of climate change, by enabling financial sector clients to deal with risks associated with climate change and enhance their ability to recover from the effects of climate change, and this in turn contributes to comprehensive and sustainable development. Hence, the safety and durability of the financial sector.In this context, it is worth noting the need to adopt policies related to climate change within the framework of sustainability, in line with the 2030 Sustainable Development Goals of the United Nations and the guidelines of the Paris Agreement, which is receiving increasing attention from the international community and regional and international financial institutions.

 

 

The statement added, “Recognizing this, the Board of Governors of Central Banks and Arab Monetary Institutions saw the revival of the Arab Day for Financial Inclusion, which is held on April 27 of each year, under the slogan “Promoting financial inclusion to support efforts to confront the repercussions of climate change” for the activities of 2023. In this context, it is important for the financial and banking sector to take the initiative to enhance its ability to deal with climate-related shocks, raise awareness of the concept of the repercussions of climate change, and deepen consumer confidence in financial institutions to limit the negative effects of these changes in the Arab region. the international community in promoting climate-friendly financing and sustainable development in general.

 

In the foreground comes support for the implementation of the sustainable development goals issued by the United Nations and their close connection with climate change issues, and support for the efforts of the Group of Twenty (G20), which adopted the axis of financial inclusion as one of the main axes to support the goals of sustainable development and enhance financial stability, as the G20 pays special attention to supporting access to Youth, women, micro, small and medium enterprises to financial services, as well as interest in community financial awareness and education, which enhance the chances of success of efforts and policies in this regard.

 

 

The statement indicated, "In a related context, one of the important priorities of the twenty-seventh United Nations Climate Change Conference (COP27), which was held in Egypt, was to secure the necessary funding to meet the requirements of climate goals, and the participating countries are likely to discuss ways to accelerate and strengthen global efforts to mitigate In the same context, the “Middle East Green Initiative” issued by the Kingdom of Saudi Arabia affirms commitment to international sustainability efforts by setting an ambitious roadmap with clear milestones working to achieve all global targets.

 

 

He stressed that "Arab central banks are aware of the great repercussions and challenges of climate change, as they seek to develop policies that support economic growth to adapt to the phenomenon of climate change. In a related context, Arab countries can work on developing and integrating applicable and sustainable country action plans that contribute to Stimulating growth and building sustainable, inclusive and resilient green economies.”

 

He added: “The Arab Monetary Fund, within the framework of its strategy, attaches great importance to priority financial sector development issues, especially in terms of facing the repercussions of climate change and green and sustainable financing, with the aim of contributing to supporting efforts to achieve comprehensive and sustainable development.” and financial stability in the Arab countries.

 

In this regard, the Arab central banks and monetary institutions have adopted the guiding principles issued by the Arab Monetary Fund on "How central banks deal with the repercussions of natural disasters and climate change on the banking system and financial stability. The Arab Monetary Fund has also organized a number of high-level workshops and training courses, in addition to preparing studies and working papers in this field.

 

 

He explained, "In this context, the conference on "Supporting the Transition to a Circular Carbon Economy to Achieve Sustainable Development", which was organized by the Arab Monetary Fund, should be noted as supporting the adoption of the circular carbon economy model that takes into account environmental aspects, as well as promoting sustainable economic growth by reducing carbon emissions. In a related context, according to estimates by the Arab Monetary Fund, the issuance of green bonds and sukuk by Arab countries related to sustainable activities, whether sovereign or offered by the private sector, amounted to $5.5 billion in 2022.

 

 

He pointed out that "within the framework of the growing importance that climate change issues are gaining and their impact on the financial and banking sector, the Council appreciates the activities included in the Financial Inclusion Initiative for the Arab Region that focus on green financing and the role of financial and banking institutions in directing entrepreneurs to sustainable projects and investments, and what they undertake."

 

The partner institutions in the initiative are interested in raising awareness of the concept of the repercussions of climate change, and encouraging products that take into account the environmental dimension and are climate-sensitive.

 

 

Despite the progress achieved, there are still great opportunities, especially for financial and banking institutions, to improve access to financial services in Arab societies, target the financially excluded groups, and integrate the informal sector into the national economy by adopting appropriate policies. In this context, the efforts of the Arab countries that have applied the comprehensive model of statistical surveys in the field of financial inclusion should be noted, and the importance of following up on its application in the rest of the countries should be emphasized, in a way that helps improve the quality of financial inclusion indicators according to the conditions of each country.

 

 

And he continued, "Within the framework of the continued efforts made by central banks, commercial banks and official Arab financial institutions in the past years, to revive the Arab Day for Financial Inclusion and the distinguished organization of activities and events on this day, which contributed to spreading awareness and financial education among all members of society, it is important It is important to enhance the revival of the activities of the Arab Day for Financial Inclusion and expand the scope of community participation in it, by implementing events and activities that enhance knowledge of the concept of the repercussions of climate change and sustainable green financing issues.

 

Central banks and Arab monetary institutions are also looking forward to the participation of other supervisory authorities, particularly the ministries of finance and other financial institutions. Capital markets, insurance supervisory bodies, bank associations and all other financial institutions in reviving the activities of the Arab Financial Inclusion Day for the year 2023.

 

 

According to the statement, the Director General and Chairman of the Board of Directors of the Arab Monetary Fund, Abd al-Rahman bin Abdullah al-Hamidi, stressed "the importance and role of financial inclusion in facing economic challenges that affect economic growth, by mobilizing resources to increase savings and investment rates and create new job opportunities." He praised the "increasing interest that policy makers in the Arab countries have given to issues related to enhancing financial inclusion, which would help address the challenges of poverty and unemployment and establish social justice."

 

Al-Hamidi noted "the efforts of central banks and Arab monetary institutions, which are keen to continue giving the necessary importance to issues of improving financial inclusion and access to quality financial services at acceptable costs, giving them appropriate importance and priority within the framework of the economic policies taken, promoting awareness of climate change and its impact on financial stability, and applying Responsible financing requirements, promoting green financial culture, supporting the green finance sector and green projects, and benefiting from modern financial technologies in providing financial services.

 

Al-Hamidi thanked "central banks, financial and banking institutions, and bank unions and associations in the Arab countries, for their efforts in launching activities on the occasion of the Arab Day for Financial Inclusion, and the importance they represent in achieving the desired purpose of this occasion."

 

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Views 105

Added 04/27/2023 - 10:35 AM

[6ly410]

Next week. The launch of a new experience in the world of government and private banks

•  Time : 2023/04/27 12:29:19
•  
• Next week. The launch of a new experience in the world of government and private banks - Al-Furat News (alforatnews.iq)

 

The banking sector is preparing to participate in the activities of the Financial Inclusion Week to be launched next week under the auspices of the Central Bank of Iraq and the Association of Private Banks

Many government and private banks are participating in the events, which showcase banking services to customers, the use of electronic payment tools, POS devices, and the culture of electronic payment, which the government seeks to generalize the experience to all private and public sector institutions.

[horsesoldier]

One step closer to financial totalitarian global control.

Anyone else get that warm fuzzy feeling ???

[Jaygo]

3 hours ago, horsesoldier said:

One step closer to financial totalitarian global control.

Anyone else get that warm fuzzy feeling ???

Nope… nothing excites me after 15 years! 😭

[darwinatridge]

3 hours ago, horsesoldier said:

One step closer to financial totalitarian global control.

Anyone else get that warm fuzzy feeling ???

The only thing I can say is that God does not play games with people. On the other hand, Satan messes with people all the time. Something to think about.

[yota691]

Financial inclusion activities will start on Tuesday with the participation of governmental and private banks

• Time: 04/28/2023 08:30:38
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• Read: 1,417 times

  

{Economic: Al Furat News} The banking sector begins to participate in the activities of financial inclusion, which is scheduled to start next Tuesday under the auspices of the Central Bank of Iraq and the Association of Private Banks, and with the participation of governmental and private banks.

Banks are reviewing banking services to customers, the use of electronic payment tools, POS devices, and the culture of electronic payment, which the government seeks to generalize the experience to all private and public sector institutions, and to open savings and current bank accounts. 
The locations where the financial inclusion activities will be held have been identified.. To view them, click here

[6ly410]

Financial inclusion events kick off tomorrow to introduce banking services and reduce cash movement

•  Time : 2023/05/01 09:26:56
•  
• Financial inclusion events kick off tomorrow to introduce banking services and reduce cash movement - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} Financial inclusion activities will be launched tomorrow, Tuesday, under the auspices of the Central Bank of Iraq and the Association of Private Banks.

It is attended by government and private banks to introduce banking services such as advances, loans, facilities and investment projects, open bank accounts for citizens, and adopt the government's approved plan to adopt POS devices in electronic payment for government institutions and the private sector and reduce the movement of cash in the market.
 

[yota691]

Financial inclusion activities will start tomorrow to introduce banking services and reduce cash flow

• Time: 05/01/2023 09:26:56
•  
• Read: 1,482 times

{Economic: Al Furat News} The activities of financial inclusion will start tomorrow, Tuesday, under the auspices of the Central Bank of Iraq and the Association of Private Banks.

Governmental and private banks participate in it to introduce banking services such as advances, loans, facilities, investment projects, opening bank accounts for citizens, and approving the government plan that it approved by adopting POS devices in electronic payment to government institutions and the private sector and reducing the movement of cash in the market.  

 

[yota691]

Al-Alaq: The exchange rate in the parallel or black market is not real

2023.05.03 - 13:27

 

Baghdad - people  

The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Wednesday that the exchange rate in the parallel market or the black market is an unreal price for speculators or owners of illegal operations.  

  

  

Al-Alaq stated, in response to a journalist’s question followed by “NAS”, (May 3, 2023), about the reasons for the difference in the price between the central bank and the market, that “the central bank has reached sales that cover the requests of merchants, citizens, investors and others, and its sales are around 200 million dollars per day, so the second price What is in the parallel market or the black market is an unreal price, and it is a price for speculators or a price for owners of illegal operations who are willing to pay this high price.”  

  

He stressed, "Now, there is only the correct price, which is 1320, because the central bank covers the need for requests for dollars, and the other price is a price that has become an abnormal price related to speculation or related to illegal operations."  

  

Regarding the central bank's measures against raising the dollar in the markets, Al-Alaq said, "The market corrects itself by covering the needs of citizens, merchants and others, so that it does not resort to using another price or another place to buy the dollar."  

[yota691]

Central Bank Governor: The price of the dollar in the parallel market is anomalous and specific to speculators

• Time: 05/03/2023 12:57:31
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• Read: 1,469 times

  

{Economic: Al Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that the bank’s dollar sales amounted to about $200 million per day.

Al-Alaqi said in a press statement that "these sales therefore cover the demands of merchants, citizens and investors," noting that "the exchange rate in the parallel market" is for speculators or owners of illegal operations. And investors and others and its sales are up to 200 million dollars per day, so the exchange rate in the parallel market or the black market is
an unreal price for speculators or owners of illegal operations who are willing to pay this high price. An abnormal price related to speculation or illegal operations. 
The government decided to adopt the exchange rate of the dollar at 1,300 dinars.
On February 7, 2023, the Council of Ministers approved "The decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar.
The exchange rate of the dinar against the dollar has been fluctuating for more than two months, and this led on the second of February to a decline in the exchange rate of the dinar to 1750 dinars against one dollar.

[6ly410]

 

Governor of the Central Bank of Iraq: The price of the dollar in the parallel market is not real

Posted 9 seconds ago

 

العراق اليوم (iraqtoday-com.translate.goog)Add a comment

 

news source /Iraq Today Agency

 

Baghdad - Iraq today:

The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Wednesday that the exchange rate in the parallel market or the black market is an unreal price for speculators or owners of illegal operations.

Al-Alaq stated, in response to a journalist's question, about the reasons for the price difference between the central bank and the market, that "the central bank has reached sales that cover the requests of merchants, citizens, investors, and others, and its sales are about $ 200 million per day, so the second price that is found in the parallel market or the black market is a non-price." It is real, and it is a price for speculators or a price for owners of illegal operations who are willing to pay this high price."

He stressed, "Now, there is only the correct price, which is 1320, because the Central Bank covers the need for requests for dollars, and the other price is a price that has become an abnormal price related to speculation or related to illegal operations."

Regarding the central bank's measures against raising the dollar in the markets, Al-Alaq stated that "the market corrects itself by covering the needs of citizens, merchants and others, so that it does not resort to using another price or another place to buy the dollar."

[6ly410]

Central Bank Governor: The dollar rate in the parallel market is abnormal and special for speculators

•  Time : 2023/05/03 12:57:31
•  
• Central Bank Governor: The price of the dollar in the parallel market is abnormal and special for speculators - Al-Furat News (alforatnews.iq)

  

{Economic: Euphrates News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that the bank's sales of the dollar reached about $ 200 million per day.

Al-Allaqi said in a press statement that these "sales therefore cover the requests of traders, citizens and investors," noting that "the exchange rate in the parallel market is for speculators or owners of illegal operations."
"Since the central bank has reached sales covering the requests of traders, citizens, investors and others, and its sales are about $ 200 million per day, the exchange rate in the parallel market or the black market is an unreal price for speculators or owners of illegal operations who are ready to pay this high price," he said.
"Now there is only the correct price of 1320, and the other price has become an anomaly related to speculation or illegal operations," he said.
The government decided to adopt the dollar exchange rate of 1300,7 dinars.
On February 2023, 1300, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1750 dinars to the dollar.
The exchange rate of the dinar against the dollar has been fluctuating for more than two months, and this led on the second of February to the decline in the exchange rate of the dinar to <> dinars against the dollar.

[horsesoldier]

Okay...if it's not " Real " how's about YOU GET REAL !!!! never seen a people talk EVERYTHING to death, then dig it up, dust it off THEN talk it to death again. 

There must be University language Classes that you major in like Resurrection of Political Mumbo Jumbo 101.

Can we just get to the part where we wake up and get dazzled on Forex with a 1 to $1.17 !!!

That to freaking much to ask after 20 Years of   🤣

[T B]

in due season you will reap if you faint not! oh yes ! the hard years are behind us ole timers, we see a new light! its never looked this good, but who am i? just a old man. thank you FATHER GOD YOUR PROMISES NEVER RETUN VOID! faith of a mustard seed is all it takes! WE GOT THAT BUDDY!  THANK GOD! LOVE YA ALL, EVEN IF I DONT FINISH THIS RACE!  

[Laid Back]

There’s people who paid the black market price because they don’t want to participate in the electronic platform to obtain dollars. So Speculators take advantage of that.

 

[T B]

YES SIR I UNDERSTAND THAT!😀

[3n1]

20 minutes ago, horsesoldier said:

Can we just get to the part where we wake up and get dazzled on Forex with a 1 to $1.17

 

not to much to ask at all except okie would be A little down about your rv number 🤣

may all your dreams come true HS

[T B]

thank i remember the okie dude!  i wont comment!  thought he was gone?

[horsesoldier]

23 minutes ago, 3n1 said:

 

not to much to ask at all except okie would be A little down about your rv number 🤣

may all your dreams come true HS

I dream big, but I'm not greedy. God bless Okie and ALL his ships at Sea...and so forth and so on.

All the Best to U 

[6ly410]

Financial Inclusion Week in Iraq concludes

Economic News Agency - The conclusion of the activities of the Financial Inclusion Week in Iraq (economy-news.net)

 

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Economy News _ Baghdad

Under the supervision of the Central Bank and the Association of Private Banks, the activities of the Financial Inclusion Week, which was held throughout Iraq, were concluded, with great participation by banks, electronic payment companies and finance companies.
The Financial Inclusion Week is held in all Arab countries in coordination with the Arab Monetary Fund, and aims to raise awareness of the importance of the banking sector, and includes various events such as conferences, workshops, seminars, awareness and education campaigns, and financial and governmental institutions, non-governmental organizations and members of civil society participate in these events.
Financial inclusion is the provision of financial services to all without exception, including the poor and marginalized, including bank accounts, insurance, loans and other services. Financial inclusion aims to promote economic development and improve the economic climate of the country.
During these events, which were held in the governorates of Baghdad, Basra, Erbil, Sulaymaniyah, Kirkuk, Maysan, Babylon and Nineveh, and targeted commercial centers, businessmen, students, entrepreneurs and others, citizens were able to open bank accounts and benefit from the services provided by banks with regard to electronic cards, loans, remittances, and others.
The Executive Director of the Association of Private Banks, Ali Tariq, said that the Financial Inclusion Week is an annual event held in many countries around the world, and has many positive effects on societies, including promoting economic and social development, improving the standard of living for individuals and communities, increasing employment opportunities and improving the economic situation of families and poor groups.
He pointed out that enhancing investment and economic development of countries, improving financial governance and contributing to reducing financial corruption, improving access to financial services and insurance for the most needy groups, such as poor and marginalized groups, women and youth, and enhancing financial and economic stability for individuals and communities.
He pointed out that it can be said that financial inclusion contributes significantly to improving the economic and social situation of individuals and societies.
For his part, the banking advisor of the Iraqi Private Banks Association, Samir Al-Nasiri, said that in light of the program prepared by the Exchange Association, the activities of the Arab Financial Inclusion Week were launched in conjunction with its launch in all Arab countries, including Iraq, pointing out that the Iraqi banking sector has achieved a wide spread at the level of opening bank accounts and spreading in banking services.
He added that the celebration of financial inclusion included the establishment of festivals and events to spread banking culture, and during this year the financial inclusion strategy will be launched, which began its features since 2016 and achieved a lot of them at the level of achievements in the subject of spreading banking culture, as the World Bank reports that Iraq has achieved a leap in financial inclusion from 11% to 33.5%, which is a good percentage compared to regional countries that practice the same activity, we hope that these events will continue with great success according to the program. prepared for it.
The Dean of the College of Business Economics at Al-Nahrain University, Dr. Nagham Hassan Nehme, said that the university used to hold this event annually because of the existence of partnership relations with the Association of Iraqi Private Banks and the Central Bank of Iraq, and this day is considered special because of its great significance at the level of professors as well as students.
She pointed out that this day represents an important thing to learn about the distinguished services provided by banks, electronic payment companies and project finance companies and how to pave the way for students after their graduation to work in banking institutions.
The Director of Relations of the Islamic World Bank, Omar Al-Agha, explained that according to the directives of the Central Bank of Iraq and with great support from the Association of Iraqi Private Banks, we held financial inclusion events to familiarize all members of society with the work of the bank by presenting the multiple services provided to them.
He pointed out that the last five years of financial inclusion has begun to mature in Iraq through the understanding and awareness of the citizen For banking services and how to use electronic payment tools.

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Views 42

Added 2023/05/09 - 12:16 PM

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[yota691]

Association of Banks: The banking sector has achieved a wide spread at the level of services

Economical  2023/05/10

 

 

  Baghdad: morning

The Association of Private Banks indicated a wide spread of the banking sector at the level of opening bank accounts and banking services, noting that financial inclusion contributes significantly to improving the economic and social situation of individuals and societies.

 

The activities of the Financial Inclusion Week were recently concluded in the governorates of Baghdad, Basra, Erbil, Sulaymaniyah, Kirkuk, Maysan, Babil and Nineveh, targeting commercial centers, businessmen, students, entrepreneurs and others, as citizens were able to open bank accounts and benefit from the services provided by banks with regard to electronic cards, loans and money transfers. , and others.

 

The Financial Inclusion Week is held in all Arab countries in coordination with the Arab Monetary Fund, and aims to raise awareness of the importance of the banking sector.

Financial inclusion is the provision of financial services to all without exception, including the poor and marginalized groups, and this includes bank accounts, insurance, loans and other services. Financial inclusion aims to promote economic development and improve the country's economic climate.

 

Ali Tariq, Executive Director of the Association of Private Banks, said that the Financial Inclusion Week is an annual event that takes place in many countries around the world, and has many positive effects on societies, including promoting economic and social development, improving the standard of living for individuals and societies, increasing employment opportunities and improving the situation. economy for poor families and groups.

 

He drew attention to promoting investment and economic development of countries, improving financial governance and contributing to reducing financial corruption, improving access to financial services and insurance for the neediest groups, such as the poor and marginalized groups, women and youth, and enhancing financial and economic stability for individuals and societies.

 

He stressed that it can be said that financial inclusion contributes significantly to improving the economic and social condition of individuals and societies.

 

For his part, the banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, stated that, in light of the program prepared by the Association of Banks, the activities of the Arab Financial Inclusion Week were launched in conjunction with its launch in all Arab countries, including Iraq, indicating that the Iraqi banking sector has achieved a wide spread on The level of opening bank accounts and the spread of banking services.

 

He added that the celebration of financial inclusion included holding festivals and events to spread the banking culture, and during this year the financial inclusion strategy will be launched, whose features began in 2016, and many of them have been achieved at the level of achievements in the matter of spreading banking culture, as the World Bank reports indicate that Iraq has made a leap in Financial inclusion from 11% to 33.5%, which is a good percentage compared to regional countries that practice the same activity, and we hope that these activities will continue with great success according to the program prepared for them.

 

The Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hassan Nima, said: The university used to hold this event annually due to the presence of partnership relations with the Association of Iraqi Private Banks and the Central Bank of Iraq.

 

She noted that this day represents an important thing to learn about the distinguished services provided by banks, electronic payment companies and project financing companies, and how to pave the way for students after their graduation to work in banking institutions.

 

The Director of Relations of the Islamic World Bank, Omar Al-Agha, explained that according to the directives of the Central Bank of Iraq and with great support from the Association of Iraqi Private Banks, we have established financial inclusion activities to introduce all members of society to the work of the bank by offering them the various services provided to them.  

 

And he indicated that in the last five years, financial inclusion began to mature in Iraq through citizens' understanding and awareness of banking services and how to use electronic payment tools.