The monetary policy of the Central Bank of Iraq in accordance with future necessities for the period 2016-2020

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Claud (Moose)




M / the monetary policy of the Central Bank of Iraq according to future necessities for the period
2020--2016


Main functions

 Issuance and management of currency.

 Foreign reserves management.

 Achieving price stability.

 Formulating and implementing the monetary policy in Iraq, including foreign exchange policies.
Regulating the banking sector to promote a competitive and stable financial system.

 Financial agent for the Iraqi government.
Vision
Outstanding performance to contribute to promoting sustainable development.

Fundamental to achieving growth

 Adopting an efficient monetary policy based on the fact that general stability is not
It is a central technical component of macroeconomics and a major technical component of providing a secure environment
MSN and a component
To invest and protect the visual power of the national currency.

 Bnanaa is an institutionalized governance as an artisan for the manali cotton and we can provide a harmonious burial system from the basin of our collection
Global practices.

 Implementing an effective prudential control policy, through risk analysis and assessment.



Article (3) of the Central Bank Law No. (56) of 2004 as amended.
The Central Bank of Iraq was established on 7/11/1947

A historical vision of monetary policy after 2014
- The development of the children of the children.

Issued on March 6, 2004 and the bank is responsible for: Maintaining stability in local prices
We implement the monetary policy in our country, so we have the right to foreign exchange reserves (management of foreign reserves).

Conducting and managing the work. Nanaa improves me and strengthens our thinking from impulses.
So we see the scenario and organize the bank sector to advance the Manali system that is competitive and stable.

With any tasks or transactions within the framework of Iraqi law.

The Central Bank of Iraq has moved from the traditional round, and the central bank of Iraq has moved from the traditional country to the country.

New such as comprehensive quality management, risk management, economic modeling management, stability management
Financial auditing based on the risks involved in the institutional ambiance of inserting an advanced electronic system

Technician, the field of national impulses, control and regulation, many logos, work technicians.

The bank in combating money laundering and financing fatigue, which won international acclaim and the collapse of Iraq,
Financial Prohibition Department The supervisory role of the bank has also been promoted in order to develop the banking sector technically
Iraq is within the framework of better international practices and protecting them from the risks involved in their shackles and the bank’s neck
In achieving financial and monetary stability, we failed to create a financial package that occurred
The central role is basically a role

The year 2015 and beyond, as a result of the collapse of the oil price and the confrontation operations of ISIS.

- During the year 2015, the Monetary Authority succeeded in containing the state of contraction or recession of the Iraqi economy
By following the best ways to activate the process of digitalization and stimulate the Iraqi economy, through:

A- Let us give us the yearning of the specialized commercial works in Milan to 5) Trillino Dinar to enable us to submit
We support us because we do not.

Economic and job creation.

B- You belong to me for 1) You can not denote the fire of the special fire.
The siege of the small and medium.

C- Nationalization of the national budget from the generation of 50% of the obligatory reserves of commercial banks
Deposited with the Central Bank of Iraq.

D- Repurchase of treasury bonds from the secondary market, where the Central Bank bought out about 2.6)
Trilio dinars as the first stage of those bonds.



- The Central Bank issued new instructions for whites to buy foreign currency during the last year
2015 assessment of strengthening the balances of banks wishing to participate with their correspondents abroad to finance
The price remains stable, trade finance and other operations are stable
Banking operations legally permitted
The Central Bank also instructed banks to apply the principle of “Know Your Customer” (l What is the legal secret?

And banking, in terms of sales and dollar savings for various purposes, in cooperation between units
Available in banks, such as internal controls, compliance auditors, money laundering to perform their role, and repression

Any transaction can be reprehended. Thus, the official base exchange rate (for the dinar) was maintained
The Iraqi counterpart against the US dollar through the foreign currency egg window on its stability and rate
For 1167 Iraqi dinars per US dollar, but the average exchange rate of the Iraqi dinar towards

The US dollar in the local market for this year for 1247 dinars per dollar against an average price
(1,214 dinars) per US dollar at the end of 2014, which is a natural condition due to interaction of factors
Regular labor and divorce due to procrastination.

Al-Thaqq reserves for 2015, in some way
The fifth is Arab
And Iraq ranked 37th in the world
They announced the Council of the Global Attacks, and the bank will continue to approve it.

(6% per annum) The use of the existing facilities represented by the investment window for a period of 7 days and at the price
The bank continued to approve the statutory reserve ratio of 15% for the Iraqi dinar (1%).

And the American dollar on bank deposits is an annual amount, regardless of whether it is the government or the private sector credit.

Publicly, it will not be kept here as full when this bank is allowed.

For 50% of us for (15%) of the current reserves in Iraqi Nandans, we can see our weights
The treasury publicly does not deviate from the issue of the hawala from the Sunnah, and the remaining cash reserve is confiscated here
We are in our minds, so that we will avoid us, so that we will not ennoble the teeth.

1.7%
During this year, the bank decided to update the security bucket on a 10-digit denomination (one thousand dinars).

2015, when its design is made by making a fabrication of forgery.
For 50) l dinars.


- In order to enhance coherence between monetary and fiscal policy and to work to stifle contradictions between me
The objectives of each of them and the coordination of the means used to achieve the benefit and the coordination of measures
Concerning international lending to Iraq, especially credit arrangements, the International Monetary Fund (SBA)
And based on 24 (M.) Central Bank Law No. 56 of 2004 regarding the importance of exchanging opinions, Article L.

Ideas between central bank officials and the Finance Ministry were appointed to the coordination committee between monetary policy
And the Ministry of Finance and Finance and canceled the implementation of the Investment Law in Iraq No. 13 of 2006, as amended in 2010
The Central Bank has issued instructions regulating the flow of foreign capital that serves the investor
The foreigner, whose most important items are: -

- All licensed banks and branches of foreign banks operating in Iraq shall have a current account fatwa
In Iraqi dinars and in dollar currency, the investment account is designated, and the allocated funds are transferred to it

In foreign currency for the benefit of the foreign investor and in accordance with the provisions of Article 21 (L) Law
The effective investment is loaned, and the investor in Iraq is entitled to use the money deposited at his disposal
The investor’s account and its remittance outside Iraq to finance the import of goods and services
And the most important crises related to the investment pattern, after all obligations and debts have been paid to the Iraqi government
The other areas are to transfer the annual profits at the market exchange rate of the investment project
After attesting the final accounts at the end of the day, according to what the law has lent on
The banking system.


The role of the central bank in stimulating the economy
The mission of the Central Bank of Iraq is to adopt an efficient monetary policy based on the reality of a
General stability in prices is an essential condition for achieving sustainable growth
And a pivotal component
In providing a conducive environment for the investment and protection of the citizens' visual power.

Macroeconomics and a key factor
The second strategic objective of the central bank’s strategic plan was to activate the role of the sector
Banking and financial institutions:

1 "Development of regulation in the banking sector" and building a framework for banking governance through:

a. Preparing a study to compare the governance requirements issued by the Economic Cooperation Organization and the requirements of
Basel Banking Governance Board of the Iraqi regulatory system that governs the financial system and instructions
Issued by regulatory institutions such as the Central Bank and the Iraq Securities Market, and is registered
Rakat.

S. Preparing a guide to banking governance in accordance with the best international practices.

R. Conducting a survey in all banks to find out the extent of applying the principles of governance.

Dr.. Preparing voluntary regulations for governance and its generalities for all banks.

e. The Supreme Subcommittee is appointed in the Central Bank of Iraq.

And the. The Central Bank of Iraq launched the Consolidated Islamic Financing Program (SIFP) with the aim of creating prosperity
Regularity in the financing and investment process between traditional and official banks on the one hand and the sector
The general and the fifth are another body under the umbrella of Standard 24 issued by the Accounting and Auditing Organization
To AAOIFI legal financial institutions.

2-Promote disclosure and transparency practices through: -

a. No banks required

Laying down a plan for the gradual transformation of banks towards the application of international accounting standards
All to be applied according to a specific period.

B. Enhancing the concept of transparency and disclosure in the financial and banking transactions provided by the banks
Amnaha and all sectors.

3) Supporting and developing the Islamic banking industry.

4 - The establishment of an institution for deposits and the pursuit of resignation with the International Foundation for Funds for IADI)
This will help build a solid institution capable of reassuring depositors of the safety of their money.

5- Contributing to the development of financial markets through setting a regulatory framework between the Central Bank
The Ministry of Finance and the Securities Commission.


6) Applying the bottom-line rules for III (on which credit risk, exposure risk, and market risk) are applied.
In order to be lenient, the internal audit department has complied with the department of compliance (and issued the official instructions that we have followed here before).

All banks, in exchange for MITAC, the Middle East Technical Assistance Center).

7) Obligating banks to allocate a certain percentage of their annual profits as a reserve allowance for food entertainment
The bank may be exposed to in the future.

8) Allow only the formal banks, and in principle, to use leasing contracts to finance the purchase of real estate or property.
Real estate construction financing.

9- Reinforcing the government and divorce market and the Finance Ministry in the need to prepare a clear strategy
 Issuing an agenda for issuance at the beginning of each year and contributing to the promotion
To provide supplies to the DHA administration
Proper infrastructure for trading and information systems.

The third strategic objective of the central bank’s strategic plan includes the development of the organizational structure
And the organizational structure of the Central Bank through: -

1. Development of the supervision and supervision sector
- Completion of the evaluation and classification of banks in Iraq according to international systems.
- Developing the tasks of the risk management department.
- Adopting the requirements for supervisory supervision in banks in accordance with the requirements of Basel III.


- Developing the field inspection department cadres in accordance with the latest control practices and activating the workforce
And control over payment systems managed by external parties.


- Developing the organizational structure and reviewing operations in accordance with quality, professional and environmental management systems
ISO 14001 to ISO 9001
Developing the automation of the central bank's business and adopting the banking core system.

- Strengthening and completing the infrastructure during the settlement of the trading results in the financial market
Through the payment systems and the use of the securities exchange system to activate the secondary market.

- Termination and management of the Switch National (Switch National) for retail payment of payments using
Cards and payments via mobile phones and brands in the Arab regional payment system.

Providing manat for modifications through the payment system.

- The electronic dinar project for ED) for the collection of invoices related to the dues of the state departments through
Prepaid cards.



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2. Development of the land capital, from which the strategic goal came through: -

- Audit of the banking sector. All the axes mentioned in the special strategic plan were completed
The requirements of prudential and professional supervision, disclosure and transparency axes, and banking governance.

Preparing programs to reject the awareness of workers in the banking sector of the importance of consumer protection and the adoption of services
Electronic banking.

3 - Controlling the volume of liquidity and maintaining the stability of the exchange rate and managing reserves
Foreign policy, which is the indicator of the country's ability to withstand debt in the long term.

To seek price stability
I wish

- As the Central Bank of Iraq provides legal stability and a voucher
Effective supervisory authorities to regulate all requirements contained in the banking law, as reflected in the bank

The central role of governance in the financial and economic situation through controlling trends in monetary dealings
In the market, adjusting monetary policy and directing resources and areas of proliferation towards optimal use
 Issuing banknotes and maintaining entry levels

It is effective according to the available capabilities
And prices and support for the advancement and upgrading of the financial sector every year and the banking system in particular
And achieving the monetary and financial stability achieved by the objectives of the Central Bank in the Law of 56 years

2004

- The stability of the exchange rate is the vital element in addressing the differences in the payment advantage
It is a priority of monetary policy that reflects the provision of a conducive environment for investment in the stabilization branch
Regarding the general level of prices, and here it must be emphasized that monetary policy alone cannot achieve
Absolute stability of the exchange rate, as this resulted in a drain on foreign reserves
The central bank, as other economic policies must culminate in a consistent monetary policy reluctance
 Establishing productivity and exports.

To support the exchange rate of the Iraqi dinar

- We are located in the country from the bank.

And our times

Investment and the sense of managing foreign reserves through the development of investment instruments of both types
 Dakhnal, a new city that can be transferred
Wa
And foreign investment instruments.

From the message of the Central Bank of Iraq in adopting a Nidi policy. Stop fooling my life
- Going on

To restore growth in the automated economy, the stereotype is a political condition
It is a pivotal component
In order to provide a suitable environment for investment and protection of the purchase yu for the national process by standard
And a major factor
The Central Bank with the following:


a. Bernnam Index to develop the assets and reserves management of RAMP (and invest in bonds)
Issued in the World Bank's dollar currency.

S. In order to seek to achieve more investment diseases, the granting of loans has been rejected
To finance small and medium projects of one billion dinars.

Mad Creating financial products with the aim of developing the investment portfolio of banks represented by issuing papers
Short-term finance of the dollar and the dollar) for the purpose of liquidity management in the banking sector.

Dr.. Setting up bank arrangements for Morgan P.J (for investment purpose in securities and custody)
Governmental documents and Nana Hassannabat, two branches of the Iraqi banks, for the annualization of payments by cards
Credit issued by Iraqi banks.

They. With the aim of promoting investment tools with a bang, targeting low-yielding instruments, the Central Bank launched

Iraq is associated with a group of investments, nor the two years that come out of them.

By the legalization of the American pennant and the creation of new debts from the banknotes of the Arab Bank
International Settlements, the French Central Bank and England's Central Bank.

Below we will include details of all the changes and the main causes and features of the policy tools
Nidiyya extension 2016-2019.

First: the mandatory reserve

 The Central Bank exercised its supervisory role on the banks by using this tool and thus for an engineering investigation.

The first is to protect the public and the deposits of the public from the dangers of the capital. The banks are exposed to them.

A means of controlling an important flow of liquidity by controlling the control of banks by strangling money
The growth of credit through credit.

In harmony with the orientations of the monetary policy and its flexibility, the approved technical support for economic development

And we do not wish to support the Sunniyyah of the Masnani Al-Jahnaz from the time that the snaiola is available, so it will be approved and since the Nisna River
In 2016 Tunisia, the rate of 5% of the simultaneous reserves in Lebanon (15%) are announced publicly.

Total deposits in Iraqi dinars and US dollars to the banks that cater to the income of Sinbabi:

Either they do not want to face the withdrawals of their customers or to finance the small and medium diseases of the banks that do not
We do not eat a year, it is as if we are trying to do so.



For (15% and for 10%) for the Tannawfer and fixed debts of the Iraqi Dinar and the US Dollar, regardless of whether they are
Publicly, the government or the creditors of the Qutna Qatnaa will not keep them here at the bank.

The funeral procession is kafna, with an investment from us not exceeding 50% (from 15%) of the obligatory reserve in dinars

Iraqi payable to treasury transfers, one year entitlement to the loan, broadening the scope of the credit, pending recovery
Banks should invest in treasury transfers, and with them the advancement of the development process in Mojang Qanar
Board of Directors No. 6 (Technical No. 1/24/2017 in which there is a number of records.

With the investment from us, we do not benefit from 50% of the population (15% of the current reserves).
We see the economic conditions of the country, so you can see it in Mogang

S

Treasury in Iraqi dinars
Al-Omannam Al-Mannar number in number to 58816 (Al-Mannoori, Fannan 11/2/2018).
(% Instead of 10%). The obligatory imposed on the deposits of the legal banks, to make up a 5% rate
Second, the window for selling foreign currency and the exchange rate:

The Central Bank of Iraq, the window for foreign currency eggs, is a way to stabilize the rate

S

Dr


P exchange and which
Each major contributed to maintaining the stability of the Iraqi dinar exchange rate and providing the currency
In order to cover the imports of the crude sector, goods and services according to the needs of the foreign sector

Citizens for travel and medical treatment. In 2016 the Central Bank undertook a development
Procedures for the exchange of foreign currency through windows through the opening of banks to adopt a fatwa mechanism

Instead, the bank established documentary credits to finance the remittance market
Basis
Banks and money transfer companies are subject to the extent of their commitment to the requirements of a centralized standard

And international compliance standards and the law against money laundering and the financing of burnout through evaluation results

Central bank for the performance of compliance officers and risk management units

Extravagant is required
Banks and money transfer companies by submitting a detailed calculation

S

For converted and collected information
Required requirements for disclosure and verification of sources of client funds that your customer does not know
And their documentation through the real beneficiaries of the dollar, and the sources of their money as transfers
Understanding

S

Documentary credits, and the restriction of dealing with the beneficiary banks and those sending them to the outside (the manufacturer
The contract is one of the companies
One of the international manufacturing agencies, it is crowned with any banks


International audits are known to conduct assessments of their financial positions and asset quality
Send k and f

Banks are obligated to maintain and provide the public's surplus at the time of labor
And finally a
The names of the beneficiaries are one dollar to the Central Bank to be sent

S

For all the general body
For discreet customs on time.

Third: Facilities Standing
The existing deposit facilities are divided into two types. They are deposit facilities and lending facilities
The mechanism by which it works through the central bank interest rate indicators for the policy rate (and this helps

In giving signals that affect the direction of the interest rate structure and that ultimately lead to control
Liquidity arrangements are based on the rate policy

- Liquid deposits facilities

In 2016, the Central Bank continued to use monetary policy tools as a window for investing in dinars

S

Count
As for the Iraqi banks to manage their liquidity surpluses, they have a moderate rate
Interest rates that lead as a result to controlling the liquidity regime in response to developments
The unexpected liquidity that was created by the maintenance of a sound and secure financial system, as conducted by the bank
The central policy rate of 6% during 2016 hides the policy's base interest rate
Annually, 4 pm in March

Initially, the requirements of monetary policy
% (Annually 2016 based
And to reduce the gap between the interest paid and that is being met in order to stimulate the economic growth and increase the rates
The growth of credit to the private sector and the reactivation of government debt tools.

The investment window in Iraqi dinars was used for a period of 7 days, and the interest rate on deposits was rejected
Banks in Iraqi dinars for a 7-day term for 1 LL
Start
% Annually (5.3%) annually
M

Interest rate 3 meters:

1/3/2016 then performed hide a
- Stand up and wait
Per annum instead of (5.3%) a loss of (1%)

.5/5/2016 commencing

25/8/2016 in% (0.75 LL)% (1 LM-)

25/12/2016

- Then to 50.0% instead of (75.0%) annually

- Working in the investment window in Iraqi dinars
At an interest rate of 1%
And it was returned for 14 (30) days
Feb. 15/8/2016
To 25.1%, respectively, annually




To be
- And the investment interest rate was reduced in Iraqi dinars for a period of 14 (and 30) days
For 75.0% and for 1 M.

% (Annually 12/25/2016) respectively

- The Board of Directors of the Central Bank also issued its decision No. 139) on 7/11/2017
The government should stop permitting investment for government-owned banks, Al-Rafidi, Al-Rid, and Al-Masraf
In the last year, the traditional trade, industrial, agricultural and real estate investment (by investing in the tools I borrow).

2018, the investment window in Iraqi dinars continued for a period of 7 (14) days and for 30 (30) days
. The investment was suspended
And at an interest rate of 1%, 75.0% and 5.1%, respectively, annually
(Days 2018), according to the Unsam Notification No. 6/6/2614 in the 14th window since September
 .2018 / 8/8 in Al-Ma'ri

- The Central Bank of Iraq opened in Haram in 2019 a window for investments in dollars and on credit
For 91 days with the Mojaz Amum numbered 6/5/272 and Al-Maori on 1/30/2019 and work continued
In this window until the end of September of the same year, the balance of deposits for this period has reached 37 (
Millions of dollars, unless the work on all dollar financial products with remittances was suspended
 Official documents of deposit (with the circular notifications numbered 6/6/1930 and dated 1/8/2019
The response of the banks to the implementation of their investment portfolios without everything that achieves the objectives
The intended period for the aforementioned period will continue to be due for the principal amount plus interest
Return for investments whose maturity date has not yet passed.

Fourth - Central Bank transfers
You put the dragon in it, that the boys use it for us.

Central bank transfers (maturity of 91) and 182 of

(Our day 08/15/2016 Let us start with an appeal
Qabnoul Sanaar Al-Faida Al-Anarad and Al-Talq Al-Anad Al-Anad Al-Anar Al-Anar Al-youf
And to achieve stability in the financial sector.

Fifth: Islamic certificates of deposit
In order to achieve the realization of the financial stability of the two sides of the main objective of the nationalization strategy of
The elderly growl, the nuar of the tooth is inhabiting the camel of the money, and the treasure and the benefit of the art of the aging of the age, the newness of the two currencies.

Formalism and alienation from the rentier type which is the time for the Iraqi economy, and the country is now exposed.

Threats when exposed to any emergency or a gradual move to develop productive resources, at a rate of 5%



Annually, it is a very important issue that reduces dependence on oil resources. Year after year, the bank has grown up
Al-Markazi, these trends, because we are more stable than others, have taken on risks, and are skeptical.

Bamnang Qunnar The Management Council No. L95 (for Annam 2017)
Let the profit growth model (to be an effective, official, financial instrument, in a smooth and modern scientific way.)

The ICD Murabaha Model (in a CSD system) was activated for 14 years.

Fannom Fannan 1/15/2018 in Milan Anandarah for 100) Mullenar Dinanar We do not undertake the management of the year
The investment of the Armenian banks is as much as possible and continues to activate the death rate for the child for 91 (sleeps and for 30) sleeps
We will get the best of both worlds.

And on 10/15/2018, the Central Bank approved the conduct of an auction for the dismissal of the prisoner's armamina.

Pamplan (100 million Dinars), Sansanar Muhand, and Ba`al Maandal Ayan (2%)
 (182) today
The last spring of the spring in 2018 is the sound of the sunny naps for a child for 365 (sleeps).

Pumble for 100 billion dinars. In 2019, a 182-day dollar deposit of certificates was issued
To shrram, to draw the
On 1/8/2019 and Al-Maari 6/6/1930

- We got mad in the politics of criticism, the tuna was followed by the boys. We are honest, the art of achieving the age. We decide on the art of the elderly.
For the tongue, as we will not be able to enlarge our eyes, the rate of which is (2.0%) for 2019.

The relative frequency of the standard number
The country is 4.0% (2016), while the basic inflation index was recorded as measured
When excluding a lot of petroleum products for oil and oozing (and my group of ingredients and etc.)
For (1.0% - compared to 2016) and for 2.1%.

The development of Nidaire policy contributed to the steps that I took and which applied to the device
The Iraqi banker aims to increase his activity and development, and this is evident by analyzing some of his experiences.

1 - Development of bank funds and assets: a register of the total capital of banks operating in
(To record a sum of 5.15) trillion dinars, an increase of 3.2% for Iraq during the year 2019 by
As compared to 2.15 trillion dinars in 2018, the assets of the bank at the end of 2019 showed an increase
In all components.

2 - The development of bank deposits and bank credit: bank deposits and credit are among
We acquire the art of the masters, so that we will congratulate you.

In order to be able to increase the volume of its liquidity and thus to increase its ability to increase the credit growth of all kinds.


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The credit growth function in commercial banks is the second primary function when accepting deposits to us
This job has a major financing role in the economy.

By 8.6%
The volume of deposits at banks operating in Iraq recorded an increase at the end of 2019
Its recorded age in 2018 was attributed to us, it was attributed to 2.31% of the total local population.

At current prices, the precedent is due to the increase in the volume of deposits rather than the increase in individual incomes
This helped a large number of employees to save in the Hurainah branch of interest rates for banks from
In order to make them compete with each other and in order to increase their ability to attract deposits.

 From the security of bank credit, it is expanding with a large number of banks, so commercial banks have supported the growth of credit
The banker, as we will record the amount of the total credit annuities granted by the banks.

Negative, we increased (3.9%) from the previous year working in Iraq at the end of 2019, with a percentage of
A rate of (0.16%) of the GDP at current prices. And we were one of the most spooky here
The rise is the increase in loan growth.


Nidian policy in 2020

Nidi politics faced many challenges due to the Corona pandemic that began at the end of 2019
And it has implemented a series of measures to stimulate the economy as follows:

Femiya The following measures are presented in terms of interest rates, credit incentives, liquidity claims, and implementation of pyram

Facilitation:

1 - The Central Bank continued to adopt the interest rate for the monetary policy rate (Rate – Policy of 4%).
Branch: Resumption of investment windows for open banks in the Central Bank.

2 - For the purposes of supporting the year’s growth and reducing the level of the mandatory reserves imposed on the banks.

And the current nature of the rate would be (13%) for the Iraqi dinar, but a band from (15% for Mandela) 6).
A: We publicly disavow the ownership of the deposits, the advance of the nationalization, with a rate of 10% for the confinement of the banks.

The percentage at the legal banks is 5% on term deposits.

As for the effectiveness of the needy policy, in reducing the burden on the household and enterprise sectors
Micro, small, and medium-sized credit facilities in light of the decline in need flows
The possibility of a high debt ratio.

1- The Central Bank of the Central Bank has submitted a bank transfer from Kannar to reschedule bank loans at
Due on small and medium companies, in the private sector, and later, for an increase in the period
Repayment of existing and future loans to sectors that are most vulnerable to the consequences of the virus and reduce the cost
Borrow.

2 - Continuing to support real activities through the lending policy adopted by the Central Bank and since
In 2016, with the cooperation of the banks operating in Iraq, to ​​move the wheel of development.

3 - The Central Bank of Iraq announced the postponement of the fulfillment of the provisions resulting from the beneficiaries of the Arten principles.

We support the Sun and the Mediterranean in the region of the Gulf of Wei River.

Real Estate and Al-Iska Fund financed by the Central Bank, the offer is not to take any money from Zainada
The result of this postponement.


Femia Yakhit is the role of the central bank in me to alleviate the dangers that Seo faces, protecting Mia Bien's land
Banks.

The Central Bank of Iraq worked to issue a number of funds, cables and instructions, including:

 Curbing Islamic financing tools, limiting risk management in legal banks, and slowing down
The Parish Supervisory and Supervisory Authority and the supervisory bodies for the capital adequacy standard
And the implementation of Basel 111 requirements regarding credit and subsequent risks and market risks.

 Issuing the instructions to be followed by all banks, in exchange for the Central Bank of Egypt
METAC Technical Assistance (.

 Instructions and powers to regulate the work of brokerage firms, with eggs after foreign pilgrimages, and work instructions

Secondary assignment to foreign remittance service providers, while the Central Bank of Iraq continues
By enhancing the level of financial financing and rejecting the level of financial services for all segments of society.

In the field of activation, use electronic payments to contain the spoilage of the virus

- Payment was made using electronic wallets via mobile phones and the provision of applications before
Empower customers with easy access to services
Banks and payment service providers c
Financial, banking and financial services via the Internet.

- The Central Bank also issued a decision to postpone the commission incurred by merchants when using
Electronic payment tools, for a period of six months.

With regard to enhancing the attractiveness of the local currency and increasing foreign reserves.

- Amortization of the commission of crushing the cash dollar with a redeemer of 70 dollars for every thousand dollars that are due
In cash, the accountants of the licensed banks, which we will stay, I deposited the technician Hasanak Al-Bannak to the Federal Club or
Those that have been transferred from other banks knowing that the bank pays cash up to 75% of the value
Hawala in dollar and bengi (25% of local currency), provided that the dollar has been embraced.

At a price of 1,200 dinars per dollar.



- Technician framing the strategy for developing foreign reserves management of the Central Bank of Iraq.
As the current and future developments progress, a strategic program has been prepared to develop the assets management
And Tama O

We are the reserves that we are in
(Program Management & Advisory Reserves) and investing in currency issued bonds
The dollar and aims, here is the program, now enabling the Iraqi Central Bank to gain support
Technicians from Khnrl exchange knowledge and experience Technician in the field of managing publicly assigned investment portfolios

The performance indicator, which helps to maximize financial resources and build families of literary reach
The exchange of knowledge and the development of experiences, technician al-Majnal al-Manali and Feng, FNL Practitioners Technician Majal Management
Reserves.

The central bank’s future vision of its activities
The vision: the relentless pursuit of brainstorming is a technique for realizing the targeted response from the selection.

Measures adopted that seek not to maintain monetary stability or achieve economic growth
Reducing unemployment levels and stabilizing Umrah exchange markets.

Policy field:

1 - Reducing the borrowing cost of the economic models to enhance the environmental supportive of the economic development
And to maintain financial secrecy.

Supporting the Central Bank of Iraq and private banks to solve the currency crisis that has affected the cold since
The Central Bank of Iraq has directed all of the brands in the One Trilo initiative
Dinars to allocate part of the funds to support the housing sector. 

The loan interest will be 4% annually
The Central Bank also urged private banks to set preferential interest and increase the level of competitiveness
By making the interest rate less than 4%, as an attempt to disguise the level of interest in the direction and root
Government employees to settle in banks, increase financial financing, and reduce hoarding.

The support of private banks for the housing sector and masking the mint crisis will contribute to moving the housing sector

The Iraqi economy and the increase in employment and the housing sector contribute to moving the sectors
The other.


2- Enhancing the fluidity, flexibility and elastomer flow
The central bank continues to adopt a monetary policy based on the integration of the interest rate and the rate movement
Exchange (to stabilize the money market by maximizing the cash flow on the Iraqi dinar
The monetary market stabilization has been the main input to controlling inflation rates.


3- Monitor developments in the local and international markets with the aim of easing the necessity of taking any measures
Additional.
Kuwait is a member of a number of regional and international organizations, such as the World Bank and the International Monetary Fund
The World Bank and the Arab Monetary Fund ... etc. Therefore, the Central Bank of Iraq continues to communicate in the past
These organizations are to find out the latest global and regional developments, as Iraq is part of the society
Aldo Lee is affected by what happens in. 

Another aspect is the Central Bank is in constant contact
Ministries, departments and local bodies to monitor local developments with a view to identifying the situation
Economic development in the country and take the necessary measures in a timely manner.

4- Managing the sustainability of the public debt while preserving foreign reserves.

Controlling the size of liquidity and maintaining exchange stability and managing reserves
Foreign policy, which is the indicator of the country's ability to withstand debt in the long term.

Future plans for the Central Bank of Iraq
It helps to make and last
The Central Bank believes in the importance of institutional work as an approach
Achieving the six strategic objectives of strategic planning and when the Central Bank of Iraq owns
Sound governance, clear organizational structure, and efficient land resources that qualify to design, investigate and monitor achievement

For the main objectives, visions and messages, we are rarely able to achieve optimal access to maximum levels of insufficiency
Below are the most important future plans for the bank's departments:
In the field of statistics and research

1) Preparing sober studies and research supported by statistics that affect Iraq and its past
The outside world and periodic reports on the most prominent indicators of the Iraqi economy for economic growth
Foreign exchange budget inflation, money supply, oil prices and OPEC + attachments, and visions
The future is in line with the bank's five-year strategy.

2 - Adopting international standards in preparing statistics and publishing them on the statistical website on a page
The Central Bank of Iraq and on the Iraq page in the International Financial Statistics (IFS) page
The International Monetary Fund.

3- Preparing the knowledge and development initiative to provide the library with modern international studies and research
To assist the bank’s employees to access the latest information and develop the work environment.
Through a ministerial system

4) Work is underway, waiting for the export license to continue (electronically
Trade / the General Company for Exhibitions via the Central Bank window.

5- The work plan on the ITRS system is ongoing at the present time and is in the process of implementing each pilot
On five banks, where horns have been allocated to them to enter the Central Bank platform for work
Ali .

6. A system will be created within the Payments feature section to connect transactions of the payments and trade features
External.

7) Issuing a newsletter on the advantages of payments and foreign trade.

8. Preparing and translating the monetary policy report and the annual economic report to contribute to rejecting a degree
The economic transparency of all economic indicators for monetary banking finance, external sector).


9- Continuing the integration of internal and external races and international organizations, and engaging in development
Sustainable.

10- Issuing reports and studies in keeping with the economic developments.

11- Creating an index system that is connected to a database of the library.

In the field of financial operations and debt management

1- Executing the tasks related to the monetary policy of the Central Bank and monitoring the implementation of requirements
Reserving deposits in dinars and dollars at banks, given the format for reserves
Adjusting them between period and time and meeting the requirements of monetary policy, whether expansionary or contractionary
The Central Bank of Iraq and the decisions of senior management have improved.

2 - Developing a mechanism for electronically establishing the required reserve by introducing a new system under construction
For Banking Supervision Reports System (BSRS) by Credit Info Corporation, in coordination with a technical department
the information.

3 - Work to activate the secondary market for white securities between banks through the trading system
.TS

4- Work to complete the electronic window project that allows banks to enter the white window
After the foreign currency, it is through a fully electronic program and the window of this program is opened
All banks so that you can send all data electronically (line on)
The speed and accuracy of neutrality in the process of distributing the dollar further.

5 - Continue to finance small and medium diseases through banks, and with financing from the bank
The Iraqi Central Bank is an initiative for 1) trillion dinars for small and medium patients.

6- Preparing the national project for the remaining project (which the Ministry of Planning managed and financed
The Central Bank of Iraq, as a first stage, an initiative to 1) trillion dinars to finance the projects
Small and medium size and preparing all implementation requirements.

- In the field of Greek affairs

1- Amending the Banking Law No. 94 (of 2004).

2- Reconsidering the decisions of the dissolved Revolutionary Command Council with the intention of amending them into a legal draft body.

3 - Rejection of the level of legal inquiries submitted previously and the degree of representation with state agencies.


In the field of banking supervision

Strengthening safe and risk-based oversight systems through:

1 - The implementation of the pilot phase of the banking reporting system project
(BSRS) related to the preparation of the data of the quarterly budgets, and the financial data number was sent
Sinks.

2- Monitoring the application of International Standard No. L9) for financial reporting for banks and auditing the data
Quarterly.

3- Activate the application of Basel (III) requirements for capital adequacy.

4 - d

S

The combined official program of financing
The department's design is a program - SIFP - based on financing principles
Specific monetary policy according to a new approach to consistent qualitative monetary policies in other economies
The market (this approach aims to create a type of financing brand between conventional banks.)

And Islamic banks to finance and implement strategic diseases in accordance with a monetary framework that is directed towards financing
A committee headed by the Governor to follow up the implementation of the Consolidated Islamic Finance Program (SIFP) before
This bank) and the General Secretariat of the Council of Ministers was approached to approve it as a mechanism for implementing disease
The strategy is in the cold and in order to achieve the growth goal set out in Article 3 (L) of the Bank Law
Powerful Ethnic Central.

5 - Citing companies to mediate with eggs after foreign pilgrimages to contribute to the threat of destruction
 The two classes (B and A) are to reduce the largest possible number of those companies that are seconded.

6- Organizing work by establishing an electronic database for all audit and inspection transactions
Analyzing and evaluating performance in order to satisfy business and meet the needs of non-financial institutions
Banking, so that all files and transactions are saved electronically.

7 - Re-study the instructions for small and medium-sized disease financing companies and their growth in laxity
There are only small companies, so the number of these establishments is 5 companies all over Iraq.

SIBS-D for the purpose of manufacturing banks operating in the sector

8 - Maintenance of systemically important banks
Banking and strengthening the precautionary measures taken by this bank regarding the supervisory process
The levies on the banking sector.

9 - Preparing the linkages for the consistency of liquidity according to the scale of entitlement for Islamic banks.

10- Preparing the lines of consistency of the liquidity ratios (NSFR-LCR) for the Islamic banks.


- In the field of foreign investments and transfers

1- Developing the capabilities of the staff of this department by engaging them in specialized training courses to deepen their experiences
Global trends in this field.

And their knowledge of banking and investment sciences according to

2 - Establishing banking relationships between central banks, international financial institutions, and sound commercial banks, in accordance with
Investment Management Guidelines Document.

3 - Preparing a valid template for documentary approval for oil whites operations and with all that meets the norms
The international community is adapting to the future of Iraq’s special conditions that warrant hovering risks
And work with specific banks that are chosen according to solid standards and continuous high financial efficiency
By following up the credit ratings of these banks with the aim of continuing the flow of the sovereign resource to Iraq
Thus, it supported the monetary policy plans and economic development.

4- Searching for the best investment returns through reaching and negotiating new correspondents
To sovereign institutions and banks) to invest with them in various safe investment instruments
Contributes to maximizing foreign reserves revenues for Iraq in a manner that serves the objectives of monetary policy
And the economic development of Iraq.

In the field of banking studies
To advance the banking market in Iraq and to strive to develop wild capital through development
The experiences and competencies of the employees in the banking system according to the vision of the Central Bank of Iraq for the advancement
On the developmental framework in Iraq, the following will take place:

1- Perhaps the training needs of all businesses

Preparing a training plan to build a working rack in Iraq
And bank departments.
The Law of the Study Center No. 36 of the year
Third paragraph

2- Providing banking and financial inquiries in accordance with
1999
In the field of managing the issuance of numbers and safes
Contrasting the objectives of the central bank and monetary policy, which is represented in achieving stability
In tune
Local prices and maintaining a stable financial system based on market competition and consolidation
Job opportunities are available as follows:

Sustainable development and

1- Providing adequate quantities of Iraqi dinars in all categories and meeting all the needs of cold regions
At all times, according to Dr. Studies to determine transport needs

2- Providing the economy’s foreign needs, especially for the US dollar (which contributes to
The stability of the exchange rate through the continuous coordination of the Federal Reserve Bank of America and the securing of access
Henna

3 - Maintaining good circulation of cash securities and crushing the damaged notes from circulation and re-circulation
Rotate it every kilogram in accordance with the requirements of international standards for the preservation of the environment
Environmental Management System 2015: ISO 14001.

4 - Improving the quality of banknotes through a variety of security features that make them difficult to counterfeit and contract
 Sober universal printing worksheets.
 And the issuance of the dinar

5- Restructuring the currency and taking the necessary measures to delete the three zeros
the new.

In the field of internal auditing

1 - Gradual transition from manual auditing to electronic auditing, using the ACL system.

2- The transition to auditing of comparable value / where the internal audit provides the conscious evaluation
 Risk management

And independent of all bank operations with the aim of adding value and improving the efficiency of operations
And the internal systems followed to achieve the objectives of the branch, providing consultations and recommendations to the management
All senior officials contribute to improving internal control systems and supporting risk activities.
Continuing internal audit standards and capacity development

3- Obtaining professional guidance / harmony
Employees and enhancing knowledge and skills through continuous professional development for department employees
Internal auditing by obtaining a certificate of certified internal auditor.

In the field of risk management
The Central Bank of Iraq pursued the six strategic goal of developing the organizational structure
The instructions are through the development and review of the work procedures followed in accordance with the quality management systems
Professional and environmental safety is as follows:


1- Developing the risk management process that follows through using the tools recommended before
Basel Committee and Committee These tools are the main risk indicators and the risk self-assessment mechanism
Control and loss data.

2- Applying various measurement methods to measure risks of all kinds.

3- Enhancing the knowledge breakout for the department staff with professional guidance in the field of risk.

4- Re-engineering the department's organizational structure.

5- Enhancing risk management processes b every year using the systems and software used in this
.

Domain globally
In the field of comprehensive quality management and institutional development
For the purpose of improving the quality of the bank’s work through training programs and the application of robust quality systems

(ISO) and focus on training programs for quality system specifications is an objective
Crouching Strategist The department is working on preparing the next strategic plan for the years 2021-
2023) which will be a reflection of the bank’s vision and provide comparative studies for the corresponding central banks
Regionally and internationally, which are based on the same principles of the previous plan for 2016-2020.

- In the field of club and financial secrecy

B. Provide a picture or a picture of the economic judge every year and the financial sector of the country
The opponent is for the decision-makers and the competent to take decisions that meet the current circumstances

In the country, new tasks will be added:

1 - Monitoring the indebtedness of individuals with the banking system.

2- Strengthening cross-border risk control.

3- Developing the chapter on financial security indicators, in line with international requirements.
In the area of ​​payments
Infrastructure development to enhance financial finance and electronic automation through:

1 - Activating the electronic collection project for billing entities.

M - Scores of automating the work of ministries and government institutions.

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3 - The payment fast payment system.
M - Proceedings of digitizing e-learning in Iraq.

5- Implementation of the Electronic Know Your Customer (KYC-E) project, as it provides a unified database to facilitate
The process of identifying the customer.

6- Application of digital financial services (fintech.)

7 - Development of a Real-time Gross Settlement System (RTGS) to work in line with the standard
(ISO: 20022)

8- The participation of Iraqi banks in the regional clearing system and the payment clearing and settlement system
Arabic interface.

9- Issuing the payments law, instructions and related regulations.

10- Preparing the national strategy for the financial mall and the delivery of electronic payment services all together
Categories of society.

11 - Contracting the consulting firms to draw up the payment strategy and develop the payment system structure.

12- Contracting the external audit firms to audit the work of electronic payment service providers
The financial and technical aspect, and the extent of its compliance with international standards and instructions of this bank.

In the field of information and communication technology
Below we list the diseases that it is hoped to start implementing in the year 2021, as follows:

1- Central banking system: the system provides for digitization processes for most of the activities and tasks that are managed
A collection of global practices, an effective and scalable infrastructure.
In the central bank in accordance

2 - Documentation and follow-up of transactions and mail: through the development of electronic trading tools for transactions
The mail is between central bank departments, branches of the party, banks and non-financial institutions
Banking subject to the supervision of this bank by another party.

3- Exchange company system: The system provides the ability to follow up and monitor movements and changes
For non-banking institutions through the electronic retrieval of reports that show the size
The trades, the relevant authorities and other details.

4 - I'm stuck in the field of bringing in modern financial technologies.

M - The technical infrastructure in the new building.


6- Implementation of clinical studies in the field of enhancing and protecting data, information and cyber security.

7 - Complete the implementation and development of the electronic banking supervision reports system.

8- Building and developing a banking network and the internal infrastructure of the bank
Central.

9 - Implementation of a disease attached to the development of technical infrastructure in the central bank and branches
And the pan-sector.
In the field of combating money laundering and terrorist financing

1 - Coordinating the devices for the AML GO system and creating the programs that are passed
The application of the best international standards and practices to preserve the confidentiality and preservation of relevant information
With the natural and moral entities and the variety of pride and provision of them in a timely manner.

2- Providing access to the databases of the law enforcement agencies, the Directorate of Nationality and Status
The Civil Air Service has visited the Real Estate Registration Department in order to facilitate access to the package information
To analyze the distorted parameters quickly and with relative accuracy, which saves time and effort
Al-Razmi in preparing the official overtures

3) Increasing cooperation between local and international bodies concerned with combating money laundering
Fatigue financing, completion of memoranda of understanding, and peer-to-peer units
Notwithstanding the signing of Memoranda of Understanding (MoUs) with European Union counterparts.

4 - Khorour is a high risk country for the European Commission.

5-Scenarios analysis, but Flage Red for banks
And non-bank financial institutions with a view to strengthening the role of anti-money laundering and financing units
Accept them in each continuous and more sophisticated way in the future.

6) Updating the guide to the tasks and duties of the Office of combating money laundering and fatigue financing in the event of a lesion
A new task in the work of the departments, and this in turn is reflected in the policies and procedures manual.

7 Study the legal system for combating money laundering and fatigue financing and work to amend it accordingly
Recent developments and in line with the past international requirements and the restoration of Iraq’s position in the forums
International.



8. Performing and regulating due diligence to combat money laundering and financing of burnout of organizations
Non-governmental organizations and company registration department.

9- Preparing the quarterly evaluation form for the annual quarter (for the banks licensed by the bank
Determining the levels of strength and power and measuring compliance with the law
Anti-Money Laundering and Fatigue Financing No. L39 of 2015.
No choke
 And risk management, information and mother see me side

10. Strengthening internal management
Mother Systems.
In the field of branches:

1) Preparing a comparison with the cash statistics of the branch’s treasury and the years' stakes in order to know the crushing movements
And depositing by banks after the events in Mosul and their reality towards the cash storage branch
Preparing an annual comparison of the statistic of cash assets at governmental and private bank branches
And specialized) to identify the variation in the movements of crushing and depositing, especially for the Basra branches
And conductor.

2) Preparing research and studies aimed at making changes to banking gaps towards a thousand.

3- Preparing a digital library that contains electronic resources and technical capabilities that are rich in information
For information warehouse (information containers are placed in electronic form, whether on integrated properties
Or a local network or the Internet to get the latest resources and reports.

4. Development of the infrastructure for information technology and electronic systems.

5. Development of the skills of wild resources.

6- Enhancing coordination in work procedures by the center.

7. Development of the organizational structure of the branches.

8- Equipping branches with modern mechanisms.




Claud (Moose)