New reform plans for the banking sector in Iraq
The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, stressed that achieving a unified vision to study the situation of banks in Iraq requires the integration of the national banking market within a homogeneous framework aimed at enhancing the stability of the national financial system and improving its performance in the fields of credit, digital payments and financing economic development.
Saleh said in a special statement to {Euphrates News}, that “the first vision focuses on the importance of achieving integration between national banks to enhance their role in supporting the Iraqi economy, pointing out that this requires modernizing the financial infrastructure and adopting modern technologies to meet the requirements of the age.
The second vision, according to the financial advisor, is related to the development of two comprehensive reform plans targeting the public and private banking sector, with the aim of improving the performance of these institutions in accordance with international standards. He explained that the reform will include improving governance and financial management and enhancing transparency, which will facilitate the involvement of Iraqi banks in the global financial relations network.
Saleh added that the immediate goal of banking reform is to enable Iraqi banks to deal more effectively with the outside world, to ensure economic openness and attract foreign investments, as well as strengthen Iraq’s position in the international financial arena.
This trend comes in light of the government’s continuous efforts to develop the financial sector and enhance its role in achieving sustainable development and supporting the national economy, as banking reform is seen as a fundamental step towards achieving these goals.
Ragheed
https://alforatnews.iq/news/خطط-إصلاحية-جديدة-للقطاع-المصرفي-في-العراق
