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Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens

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Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens Empty Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens

Post by RamblerNash Thu Sep 23, 2021 9:55 pm

Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens 928521-3f29861f-efa7-4377-b05e-30aeb281b5e9
Wednesday 22 September 2021 13:48
 
Baghdad / NINA / - The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said that we need to combine the state's measures to ease and reduce by launching a clearly defined strategy and starting with goods that have an advantage, such as agricultural products.

In his speech during the annual conference of the financial and banking services exhibition, he added that it is not hidden from everyone that the central bank plays an important role in achieving macroeconomic balance in light of the conditions that have passed since 2019 until now through various monetary policy tools, we have faced many challenges. The most important of these are the drop in oil prices and GDP, the high budget deficit of the state and the high volume of the internal public debt.

To stimulate economic activity and reduce unemployment, the bank launched an initiative with an amount of more than 5 trillion dinars, in addition to the previous initiative launched in 2015 to stimulate the various industrial and agricultural sectors, services and housing in a balanced manner with reduced interest rates and sometimes without interest, as in the housing sector by achieving an economic renaissance.

And between the Governor of the Central Bank, that we need a concerted state action by reducing and launching a clear strategy and starting with commodities that have an advantage such as agricultural products.

And he indicated that the Central Bank deducted treasury transfers 2020 and 2021 to finance the dues of the Ministry of Finance, despite the increase in debt and the negative impact, but it is a historical necessity to find a solution to the financial crisis that the country went through and to cross to safety.

He stressed that the Central Bank is working with the Ministry of Finance to reform government banks, as well as activating payment systems by activating financial inclusion and access to services to all citizens, as the number of accounts doubled from 3 million in 2019 to 6 million in 2020, and the number of electronic cards also increased From 10 million to 12 million cards.

He pointed out that as part of the Central Bank's efforts to combat money laundering and terrorist financing, it has succeeded in establishing an integrated system through the issuance of the Anti-Money Laundering Law No. 39 of 2015 and the Anti-Money Laundering and Terrorist Financing Office was established and issued several decisions that contributed to Iraq's exit from the gray area it issues. You missed, and the Central Bank seeks to establish a sovereign fund for future generations in which state institutions and oil revenues contribute. The presence of the sovereign fund reduces the potential risks in light of oil price fluctuations and contributes to building a secure future for future generations.

With regard to the issue of digital transformation, the Governor of the Central Bank confirmed that the bank is working on developing technical infrastructure and cybersecurity, automating services, and setting and opening electronic wallets./End 8

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Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens Empty Re: Central Bank Governor: We are working to activate payment systems through financial inclusion to reach all citizens

Post by jontor Tue Sep 28, 2021 1:33 pm

Looking for a good access tool for many banks to understand the data in one place on one device? Did some services offer https://nordigen.com/ attempt to do so?

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