Al-Sudani takes a number of steps regarding financial and banking reform in Iraq
Prime Minister Mohammed Shia al-Sudani directed, on Friday, to take a number of steps within the framework of banking and financial reform in the country, including increasing the number of bank branches in the governorates, as most activities are concentrated in the capital, Baghdad.
Al-Sudani’s media office stated in a statement today that “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, Al-Sudani directed that a number of steps be taken in this regard.”
Among the steps, according to the statement, is “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.”
The statement pointed out 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.
The statement stressed the importance of banks developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts.
The media office pointed out the enhancement of financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts in villages and rural areas.
The statement called for 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.
The statement directed the organization of workshops to train young pioneers and local businessmen on how to deal with loans and financial services.
The statement added that 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 regarding the steps mentioned above.
Parliamentary praise for the government’s achievement in the Grand Faw Port
Member of the Parliamentary Services Committee, Alaa Al-Dalfi, confirmed Thursday, that the opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects. Al-Dalfi stated in an interview with Al-Sumaria Channel, “The opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects,” explaining that “the eyes of the Iraqi people are directed towards it because it is one of the projects that will support Iraq’s budget and its economy.”
He added: “The docking of the first ship is a joyful thing and will enhance the economic situation in the country. It will provide many job opportunities and enhance the development of development and economic projects in the country.”
The MP pointed out that “the House of Representatives supports all major development projects in the country, but there is one observation, which is linking the development path to neighboring countries, which could reduce the importance of the Faw Port, which is considered one of the projects that, if implemented well, will contribute to moving the country to a new stage of economic development.”
Al-Dalfi continued, “This project suffered from procrastination in the previous government,” considering that “Prime Minister Mohammed Shia al-Sudani succeeded in several files, including transportation and Iraqi ports, and also achieved a major leap in services.”
