This Month...The Central Bank Launches The Financial Sustainability Map
The second and third 11/02/2023 Baghdad: Rula Wathiq This month, the Central Bank launches a financial sustainability map in cooperation with international institutions.
Bank Governor Ali Al-Alaq told Al-Sabah:
The map, which is based on financial sustainability, was designed to manage environmental and social risks, noting that it will clarify the directions that the bank will take related to the awareness and educational aspect, as well as risk management and sustainable financing. He pointed out that
the map will support financial inclusion, including the Bank’s initiatives in supporting small and medium enterprises that are being adapted or pushed towards being consistent with what we aspire to, taking into account the environmental and social aspects, pointing out that
Iraq can address the backwardness of industry, agriculture, and the economy by developing them according to modern foundations and standards using methods.
Which leads to achieving this purpose. Al-Alaq pointed out that the factors for regulating trade are not achieved with the diversification of the economy and the provision and support of projects that operate within this framework, with the presence of chaos in them and the lack of control over this large activity that is drowning the country, undermining the opportunities for growth and development, and expanding the production base in a large and frightening manner, in addition to the fact that it introduces a lot of Goods that lack many health and environmental specifications and standards.
He added that financing is a complementary link when appropriate conditions are available, as happened with the launch of an initiative to lend for the use of clean energy, especially at the household level in the use of solar cells, indicating that we do not find any interest in this initiative, which forces us to review other factors related to the awareness process, as The vast majority of citizens do not have an adequate understanding of the benefits these cells bring on the personal and environmental levels.
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