The World Bank is discussing the Iraqi Central Bank with “tarsin” the external transfer
Baghdad today – Today, the Governor of the Central Bank of Iraq, Ali Al-Alaq, and a delegation from the World Bank discussed “Tarseen” the external transfer process in accordance with international standards, while prospective amendments to simplify tax and customs procedures were discussed.
The central bank said in a statement received by “Baghdad Today”, that “the governor of Al-Alaq received today, Thursday, a high-level delegation from the World Bank headed by Farid Belhadj, Vice President of the World Bank for the Middle East and North Africa.”
According to the statement, the meeting “discussed the efforts of the Central Bank of Iraq to organize and consolidate external transfers in accordance with compliance requirements and international standards and encourage merchants to enter the electronic platform to buy dollars by providing facilities and simplifying tax and customs procedures that the government is making anticipated amendments to.”
The central bank stated that “the meeting discussed granting small loans through the “Riyada” bank, which will be responsible for providing various loans with the support of the Central Bank of Iraq and private banks and working to establish a company to guarantee loans, as well as paying attention to compliance standards and risks to develop the banking sector.
The meeting also dealt with “the conditions of government banks, which constitute approximately 80% of the size of the Iraqi banking sector, and dealt with plans to improve their work, including amending their internal systems to implement institutional governance issued by the Central Bank, and plans to restructure those banks,” according to the bank’s statement.
The bank indicated that “the World Bank delegation praised the efforts and procedures of the Central Bank of Iraq at all levels, expressing its readiness to provide any advice or technical expertise in these areas, and to continue implementing the programs it is working on with the Central Bank.”