Clare: Governor of the Central Bank confirms the real reconstruction of the government banking sector
April 14, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, confirmed that what is meant by restructuring the Iraqi banking sector is government banks, considering that strengthening and restructuring these banks represents a real rebuilding of the banking sector in Iraq.
His Excellency mentioned during the participation of an Iraqi delegation in the meetings of the World Bank and the International Monetary Fund in Washington, DC, that the assets and assets of government banks constitute more than 80% of the Iraqi banking sector.
His Excellency revealed that the Central Bank has a program to restructure government banks and has been working on it for years in cooperation with relevant international organizations, the World Bank and the International Monetary Fund, stressing the existence of harmony between the Iraqi government and the Central Bank in the process of reforming the banking sector.
And he continued, that there are several possibilities related to the restructuring of government banks, as these possibilities depend on the results of analyzes of the financial statements of some banks that have the problem of final accounts, adding, that all the possibilities involved in merger and acquisition exist, and that any formula that is useful, we will study it with the competent authorities and organizations. International, which has long experience and experience in this field.
It is noteworthy that His Excellency the Governor held many bilateral meetings on the sidelines of the Iraqi delegation’s participation in the meetings of the World Bank and the International Monetary Fund that took place in Washington, DC.
The Central Bank of Iraq,
the Media Office,
April 14, 2023
Clare: Tomorrow.. Al-Sudani discusses the budget with Parliamentary Finance
A parliamentary source announced: “The Prime Minister, Muhammad al-Sudani, will hold a meeting tomorrow, Saturday, with the Parliamentary Finance Committee, to discuss the details of the budget for the next three years, the deficit in it, the provincial shares, and the operational and investment budgets.” LINK
DeepWoodz: Imo If the rate has been a secret kept from them, I suspect tomorrow would be the time to let them in on it. This is a first I believe that the Prime Minister comes to Parliament to do a Q&A session. Wonder what’s the big deal?