A series of recommendations from the Sudanese to reform the financial and banking system in Iraq
Economy News – Baghdad
Prime Minister Mohammed Shia Al-Sudani issued on Friday a number of recommendations to reform the financial and banking system in Iraq.
The Information Office of the Prime Minister said in a statement received by “Economy News” that “as part of efforts to reform the financial and banking system, as one of the priorities of the government program, the Sudanese directed to take a number of steps in this regard:
1. Increasing the number of banking branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity and providing their basic requirements.
2. All banks in the governorates must adopt modern technologies such as online banking services and mobile applications, making it easier for citizens to access their banking services easily.
3. Emphasizing on banks the importance of developing their financial services commensurate with the needs of individuals and small companies, such as soft loans and savings accounts.
4. Enhancing financial inclusion in the governorates by providing banking services to different categories of society, including districts and areas in villages and rural areas.
5. Launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest funds properly.
6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services.
The statement explained, “The Ministry of Finance, the Central Bank of Iraq, and the associations of Iraqi private and Islamic banks will coordinate with the governors’ offices to complete the above tasks according to jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office on the progress of work regarding the steps mentioned above.”
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Added 2024/11/08 – 1:24 PM
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