"SIX MONETARY REFORM POINTS... FOR THE IRAQI CITIZENS!!! BY FRANK26, 9 NOV

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FRANK26: "SIX MONETARY REFORM POINTS... FOR THE IRAQI CITIZENS!!!".........F26

Al-Sudani directs to increase bank branches to expand financial services and modernize buildings in governorates

 

11/8/2024

Prime Minister Mohammed Shia Al-Sudani directed, today, Friday, to increase the number of bank branches in the governorates to meet the needs of the local population and to contribute to expanding the scope of financial services while paying attention to buildings, their modernity, and providing their basic requirements.

 

Al-Sudani's media office stated in a statement received by {Al-Furat News}, "Within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges facing the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country, and because most of the activities were concentrated in the capital, Baghdad, Prime Minister Mohammed Shia Al-Sudani directed a number of steps to be taken in this regard:
1. Increasing the number of bank 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. The necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily. 
3. Emphasizing to banks the importance of developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts. 

4. Enhancing financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts 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 money properly. 

6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services. 

The Ministry of Finance, the Central Bank of Iraq, and the Iraqi Private and Islamic Banks Associations will coordinate with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office regarding the progress of work on the steps mentioned above.

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