Ayn Al Iraq News

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The central bank announces signing a document with the World Bank aimed at maximizing financial resources

The Central Bank of Iraq announced, on Wednesday, the signing of a banking arrangements document with the World Bank, indicating that the document aims to obtain technical support in a field that helps to maximize financial resources.

A statement of the bank received by “Eye of Iraq News” stated that “within the framework of its strategy to develop the management of its foreign reserves in line with current and future developments, the Central Bank of Iraq signed a banking arrangement document with the reserve management advisory program of the World Bank (RAMP) Reserves Advisory & Management” Program “.

The statement pointed out, “This document aims to enable the Central Bank of Iraq to obtain technical support through the exchange of knowledge and experience in the field of investment portfolio management based on a performance indicator that helps to maximize financial resources, build human capital through the exchange of knowledge and develop expertise in The financial field according to the best practices in the field of reserve management. ”

He pointed out that “this program was developed by the World Bank in the year 2000, with the aim of building capacities and providing consulting and asset management services, and is a meeting place for a network of specialists, and serves more than (70) members around the world, most of them are from central banks, managing nearly ( 2) $ 1 trillion in sovereign assets. ” Source