Sunday December 12, 21 Central Bank: Iraq has become attractive to investment

Sunday December 12, 21 Central Bank: Iraq has become attractive to investment

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The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said that all indicators of the Iraqi banking sector are on the rise, indicating that Iraq has become an attractive arena for investment.

A statement by the Central Bank, received by {Al-Sabah}, stated that the Governor of the Central Bank of Iraq, Mustafa Ghaleb, “opened the activities of the Iraqi banking week in the Iraq Pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, and the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of managers.” The two years in the Central Bank and the heads of the banks’ boards}.

The Governor of the Central Bank said: {The launch of the activities of the Banking Week in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world}, indicating that {the supervision of the Central Bank contributed significantly to the development of the banking sector.}

He added, "There are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."

He pointed out that {all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector}.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.