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Central Bank enhances the capabilities of the Banking Guarantees Company
December 18, 2024
The Central Bank of Iraq revealed that it has set a priority within its various strategies to enhance the capabilities of the Banking Guarantees Company. Stressing that one of the tools to support the banking sector is providing bank guarantees to enhance financial depth.
The Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, said during a speech he delivered during the Eighth International Guarantee Conference held in Baghdad: Organizing this conference contributes to enhancing cooperation and achieving a comprehensive and sustainable vision for partnership between the banking and real sectors, indicating that developing the banking sector and increasing credit of all kinds depends on providing sufficient guarantees to owners of large, medium and small projects.
He added that the Loan Guarantee Company is one of the pillars of financial stability in Iraq, considering bank credit a basic pillar and a catalyst for economic growth and job creation.
The Deputy Governor added in his speech that the Central Bank of Iraq has prepared within its various strategies to enhance the capabilities of the Banking Guarantees Company, revealing the establishment of a committee from the Central Bank of Iraq with membership of the Private Banks Association to improve the performance of the Banking Guarantees Company.
It is worth noting that the Central Bank of Iraq has previously launched the National Lending Strategy, which focuses on providing financing for small and medium enterprises.
The Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, said during a speech he delivered during the Eighth International Guarantee Conference held in Baghdad: Organizing this conference contributes to enhancing cooperation and achieving a comprehensive and sustainable vision for partnership between the banking and real sectors, indicating that developing the banking sector and increasing credit of all kinds depends on providing sufficient guarantees to owners of large, medium and small projects.
He added that the Loan Guarantee Company is one of the pillars of financial stability in Iraq, considering bank credit a basic pillar and a catalyst for economic growth and job creation.
The Deputy Governor added in his speech that the Central Bank of Iraq has prepared within its various strategies to enhance the capabilities of the Banking Guarantees Company, revealing the establishment of a committee from the Central Bank of Iraq with membership of the Private Banks Association to improve the performance of the Banking Guarantees Company.
It is worth noting that the Central Bank of Iraq has previously launched the National Lending Strategy, which focuses on providing financing for small and medium enterprises.
Central Bank of Iraq
December 18, 2024
Media Office
December 18, 2024
Media Office
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