Latest topics
Finance Minister: We are working on reforming the Rasheed and Rafidain Banks to support the Iraqi economy
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Finance Minister: We are working on reforming the Rasheed and Rafidain Banks to support the Iraqi economy
Update 07/12/2022 - 3:32 AM
Economy News-Baghdad
Finance Minister Ali Allawi confirmed, on Saturday, that the ministry is cooperating with the Central Bank to reform the Rasheed and Rafidain banks, pointing out that 75% of deposits are in government banks.
Allawi said in a speech during the Fifth Finance and Banking Exhibition Conference in Iraq, which was attended by "Economy News", "Iraqi banks have gone through difficult circumstances now since the beginning of 2020 after oil prices fell to unprecedented levels and the impact on the economy," adding that "the banking and financial sector is the most important pillar in The economy, not just the state’s resources, and diversifying the economy is an urgent necessity.”
He explained that "there are 3 basic elements for the stability of the economy, the supreme policies of the state and the central bank, and secondly, the international situation and direct and indirect external influences in the Iraqi economy, and the third is the institutional element," noting that "the banking sector has grown in terms of deposits and loans, and the ratios between the public and private banking sectors are still the same. 75% of deposits are in government banks.
He cautioned that "reforming government banks is a vital issue and an essential part of transforming the economy from rentier to diversified," noting that "companies outside the oil sector cost the state billions of dollars."
He pointed out that "since the middle of 2020, the Central Bank began cooperating with the Ministry of Finance in reforming government banking institutions," noting that "working with experts to reform the internal system of Rafidain and Al-Rasheed banks."
The Minister of Finance indicated that "government banks have been isolated from the world for 40 years," noting that "the white paper is not a media whirlwind."
He called for "allowing the private sector to compete in the acquisition process and benefiting from deposits to create an equal competitive base," noting that "reforming the government banking sector is a priority for the Ministry of Finance."
https://economy-news.net/content.php?id=28729
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Mon Apr 29, 2024 4:13 pm by Mission1st
» The Rockefellers and the controllers are freaking out right about now
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej