THE THIRD STRATEGIC PLAN 2024-2026
The Governor of the Central Bank, Ali Mohsen Ismail Al-Alaq, when he announced the third strategic plan for the years (2024-2026), includes a set of main and sub-objectives and initiatives to achieve the bank’s plan.
The governor stated that the plan paid special attention to the supervision of the banking sector, in order to build a “sober” banking sector, while the plan, according to the relationship, focused on the non-banking financial institutions sector [investment banks, hedge funds, insurance companies, mortgage lenders etc].
In the first strategic objective identified as Enhancing monetary stability the CBI lists four facets of this effort.
In these four there are list ten initiatives.
In examining the ten it appears that nine of the ten have already been initiated.
The one initiative waiting in the wings is the and I quote, “Introduce NEW ISSUES of high-quality currency.”
I’m certain this is a reference to new lower denominations and since it is a subset of the FIRST strategic objective, it is thus identified as foundational to move forward for the banking sector’s stability.
It seems based on the plan to be the only foundational initiative remaining to be implemented.
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