Today, Monday, the Central Bank of Iraq confirmed that Al-Riyada Bank for Financing Small Projects will soon begin offering services.
According to a statement from the bank, “the Governor of the Central Bank, Ali Mohsen Al-Alaq, received the Ambassador of the Federal Republic of Germany to Iraq, Christiane Homann, to discuss banking relations and enhance the financial inclusion plan in Iraq and the importance of digital transformation, in addition to providing full support to Al-Riyada Bank for financing small projects, which will launch its services soon.” The bank also stated that “the Governor of the Central Bank, Ali Mohsen Al-A
He noted that “the Central Bank has taken many steps in this direction in coordination with the relevant authorities” and that “there is a great desire among citizens to use electronic cards, which enhances electronic payment in Iraq.”
“Riyada Bank will provide its services to an important segment of customers, as it aims to provide support to emerging small and medium enterprises, as it will be a bank different from other banks through its unconventional products that will contribute to creating job opportunities for various social groups in society,” he explained. “Riyada Bank will be a bank that will be different from other banks through its unconventional products.”
He said, “Muthraf Al-Riyada opens new horizons in a stable investment environment, noting that there will be representative offices in the majority of Iraqi banks to facilitate customers’ access to it and benefit from its services,” and he said this about Muthraf Al-Riyada.
“The meeting reviewed the plan to reform the government and private banking sector with direct support from the Prime Minister to achieve a sector that is stable, secure, and efficient,” he explained.
“Readiness to provide advice and technical support for such important projects that support the common goal of diversifying the Iraqi economy,” the German ambassador, for her part, stated.
