Economy News

Association of Iraqi private banks held a scientific symposium on the role of the Central Bank in achieving financial inclusion

The Association of Iraqi Special Banks, in cooperation with the Central Bank, held a scientific symposium entitled “The Role of the Central Bank of Iraq in Achieving Financial Inclusion” at Erbil International University Hall.

The seminar was attended by economic and financial figures in the Kurdistan region, the director of payments department at the Central Bank, and the speaker of the bank Dr. Bassem Abdul Hadi, the economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi and representatives of a number of government and private Iraqi banks.

The economic adviser to the Association of Iraqi Private Banks, Samir Nusairi, in the seminar, which was attended by “Economy News”, “The strategy developed by the Central Bank has a major role in achieving financial inclusion with the participation of the Association of banks and banks belonging to the community under the tent of the Association through the introduction of modern banking systems and techniques To promote the goal of financial inclusion and competition of regional states in this area. “

“The introduction of governance and the separation of executive management of banks from the heads of councils to create a new health situation in the management of the work of banks,” adding to the need to implement the plan set by the Central Bank and the Association of banks through the work of banks to attract deposits and grant bank financing for small and medium enterprises, Activating the banking cycle and stabilizing the exchange rate of the dollar. ”

For her part, the Director of Payments Department at the Central Bank, Mr. Dhi Abdul Karim, stressed the importance of building solid financial institutions and the transformation of the monetary society to non-monetary to achieve financial inclusion, indicating that “legal frameworks must be developed to protect the consumer and introduce the private sector to enhance the importance of financial coverage.

“Each country has its own specificity in achieving financial inclusion through introducing modern banking systems and providing the best services to the public,” she said. Source