The high Minister’s guide for financial Affairs, Mazhar Muhammad Salih, burdened that accomplishing a unified imaginative and prescient to observe the conditions of banks in Iraq calls for the combination of the country wide banking marketplace within a homogeneous framework aimed toward enhancing the stableness of the country wide economic machine and growing its overall performance in the regions of credit, digital payments, and financing financial development.
Saleh stated in a special statement to {dinaropinions.com}, “the first imaginative and prescient focuses on the importance of attaining integration between country wide banks in a manner that complements their function in supporting the Iraqi financial system, stating that this calls for updating the financial infrastructure and adopting modern-day technology to meet the necessities of the generation.
the second vision, in line with the financial marketing consultant, is associated with growing comprehensive reform plans focused on the private and non-private banking sectors, with the purpose of improving the performance of those institutions in accordance with global requirements. He defined that the reform will encompass enhancing governance and economic management and enhancing transparency, for you to facilitate the involvement of Iraqi banks in the international financial family members network.
Saleh delivered that the direct goal of banking reform is to allow Iraqi banks to deal extra successfully with the outdoor world, ensuring monetary openness and attracting foreign investments, in addition to strengthening Iraq’s position on the worldwide financial scene.
This fashion comes in mild of the authorities’s ongoing efforts to increase the monetary quarter and beautify its position in achieving sustainable development and supporting the country wide economic system, as banking reform is viewed as an vital step in the direction of achieving these goals.
