Baghdad – IA
On Tuesday, the Central Bank of Iraq stressed the increasing importance of Islamic finance in Iraq.
The Central Bank stated in a statement received by the (INA), that “The Central Bank of Iraq hosted a technical workshop on governance and compliance in Islamic banks and financial institutions, which was organized by the General Council of Islamic Banks and Financial Institutions.”
He added, “The workshop, which was attended by a number of representatives of banks, Islamic financial institutions, regulatory bodies, supervisory authorities, and international organizations, discussed governance and compliance in banks and Islamic financial institutions, discussed supervisory methodologies for continuity and development after crises, challenges of governance and compliance in Islamic finance, as well as risk management practices.” “.
He continued, “The workshop saw the work program carefully designed to integrate theoretical frameworks with practical applications in the field of governance, compliance, and risk management to ensure maximum benefit for participants.”
Deputy Governor of the Central Bank of Iraq, Ammar Hamad Khalaf, stressed – according to the statement – that “the success of the workshop emphasizes the growing importance of Islamic finance in Iraq, and hosting this workshop reflects our fruitful cooperation with the General Council in order to encourage best practices for governance and compliance within Islamic financial institutions in Iraq.” .
In turn, the Secretary-General of the General Council, Abdul-Ilah Belatiq, said: “Through this distinguished initiative, we reflect the joint commitment between the General Council and the Central Bank of Iraq in developing the principles of governance and compliance in the Islamic financial industry,” looking forward to “more cooperation and constructive work to strengthen and develop the financial industry.” Islam in the region.