ARTICLE AD BOX
STATUS OF THE RV, PART. 5
Update: Banking and Financial Reforms:
😊In the next article titled “THE MINISTER OF FINANCE CHAIRS A MEETING TO FOLLOW UP ON THE RESTRUCTURING OF RAFIDAIN AND RASHID BANKS.
We learn that the “Finance Minister Taif Sami met Wednesday evening with representatives from Rafidain and Rashid Banks, as well as representatives from Ernst & Young, to follow up on the implementation phases of the government-owned banks’ restructuring project.
So, we know this project is not yet completed. Also we learn that Minister Sami emphasized the need to accelerate the pace of work and implement requirements according to the specified timetables, noting that the restructuring of government banks represents a pivotal step toward developing the banking sector and enhancing its efficiency. ”
My point in bringing this article to you is not so much to tell of the restructuring of these two banks, as we already learned about this project, but to show you that all these key projects have specified “time tables” and completion targets. You may ask why? It is just for organizational purposes or are they driving to a specific future date for an overall event and this project is just one of many to be completed to facilitate this event? Just asking…..
😊In the article titles “THE CENTRAL BANK OF IRAQ LAUNCHES THE FIRST NATIONAL STRATEGY FOR FINANCIAL INCLUSION.” We are told that the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy for the period 2025-2029. How many times have we read about this inclusion. I guess we all assumed it was already launched and now we learn it was not. Now the CBI is making the effort more formal and outward. We have read many past articles already on this idea of financial inclusion. But what really is it?
I like this article because it actually defines more clearly what “financial inclusion” is.
It is: “the strategy includes an integrated framework for financial inclusion aimed at enabling all individuals and businesses to access the financial sector and use appropriate and safe financial services while protecting their rights, thus contributing to economic and social development.”
“Also including increasing the percentage of bank accounts, enhancing consumer protection for those dealing with the financial sector, using the latest electronic payment methods, and developing infrastructure and regulations to enhance financial inclusion.”
The article talks more about the Governor of the CBI, Al-Alaq, and his speech on this subject matter. I recommend you go read the full article if you want more info on his speech.
English (US) ·