Baghdad – IA
The Governor of the Central Financial institution of Iraq, Ali Mohsen Al-Alaq, introduced at present, Saturday, the launch of the nationwide technique for financial institution lending in Iraq.
An announcement from the Central Financial institution obtained by the (INA) stated: “The Governor of the Central Financial institution of Iraq, Ali Mohsen Al-Alaq, launched the nationwide technique for financial institution lending in Iraq 2024-2029, within the presence of quite a few officers and representatives of diplomatic missions and organizations in Iraq, in cooperation with the German Company for Worldwide Cooperation.” (GIZ)”.
Al-Allaq pressured in a speech he delivered in the course of the celebration, “The lending technique began from the pivotal function of the banking sector within the monetary system, by performing as an middleman between depositors and debtors, and thru it, supporting financial development, strengthening the enterprise sector, and serving to people obtain their wants and ambitions are achieved, indicating that financial institution lending It’s the cornerstone of financial exercise, driving development and reaching well-being.”
He added, “There may be an pressing want at present to stimulate and diversify the Iraqi financial system, stressing that the Central Financial institution of Iraq’s housing lending initiatives that it launched by way of the Actual Property Financial institution and the Iraqi Housing Fund have reached about (11) trillion dinars.”
Al-Alaq pressured the necessity to broaden the monetary inclusion base in Iraqi society, particularly increasing the actions of small and medium-sized corporations, that are the spine of the financial system, mentioning that “using the workforce is a matter of curiosity and focus for the Central Financial institution and the continuation of its initiatives for small and medium-sized enterprises, which can culminate within the launch of the supported Riyada Financial institution.” By the Central Financial institution of Iraq and with the contribution of personal banks.
He said, “Growing and implementing the nationwide lending technique for the years 2024-2029 requires cooperation between a large variety of related events and shared pursuits, to attain the specified objective.”