The Iraqi government, in collaboration with the vital financial institution of Iraq (CBI), has released a strategic initiative to modernise the u . s .’s banking zone.
The reforms intention to enhance banking requirements, beef up economic resilience, and improve Iraq’s integration with global financial systems.
Key pillars of the initiative include:
Governance and ownership: Strengthening transparency thru varied ownership systems and independent board oversight.
service requirements: expanding get admission to to monetary services and modernising banking infrastructure.
international Compliance: Aligning with international requirements in anti-money laundering, counter-terrorism financing, and financial transparency.
financial Resilience: imposing sturdy capital and liquidity necessities to protect consumer deposits and make sure financial balance.
The initiative is a part of a broader method advanced through the CBI in partnership with global consulting firm Oliver Wyman.
Reforms in country-owned banks will supplement this method, marking a first-rate transformation in Iraq’s monetary area. in addition implementation info can be announced in due route.
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