The Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation (IFC)
July 14, 2023
The Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation IFCHis Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation (IFC) of the World Bank Group.
During the meeting, they discussed aspects of bilateral cooperation in the field of the banking sector and its development in line with global technologies, as well as presenting the latest developments regarding the strategic projects implemented by the Central Bank in cooperation with the International Finance Corporation (IFC).
The two parties discussed the sustainable financing project, which is a key factor in achieving the goals of sustainable development through offering banking products and services and developing banking operations in a manner that takes into account the elements of environment, society and governance (ESG), and financing, lending and investment activities, to achieve sustainable benefit for all concerned parties.
It is noteworthy that Iraq is the second Arab country to establish this project, while the Central Bank was praised by the International Finance Corporation for its fruitful efforts in making a significant impact on the Iraqi banking sector to contribute to preserving the environment and supporting sustainable growth and community safety.
His Excellency the Governor reviewed an initiative to establish a green bank that the Central Bank is working on implementing, while the delegation expressed their willingness to cooperate in the field of exchanging experiences and training to help establish this bank in line with the efforts of the Corporation and the Central Bank in supporting the private sector and medium and small projects, pointing to the openness of the Central Bank to all International financial and banking institutions in supporting the Iraqi monetary policy.
The Central Bank of Iraq,
Media Office,
July 14, 2023
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“It’s interesting when u compare Iraq with Jordan’s economy.
Pretty similar stats, I’d say Iraq is better with lower unemployment, higher average income. and over 4 times higher GDP.
However the Jordanian Dinar is 1.41 to 1 USD and the Iraqi Dinar is 1/6 th of a penny to 1 USD.”
Iraq must create the conditions, pass laws and encourage investment.
Only then will they be on par with neighboring countries so they can unleash (float) the dinar to create its own value.
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