The Association of Private Banks and the International Monetary Fund are discussing the challenges facing Iraq’s economy
The Association of Iraqi Special Banks discussed with the International Monetary Fund the challenges facing the Iraqi economy during the current stage and ways to face the economic crisis and the credit readiness agreement signed by Iraq with the International Monetary Fund in 2015.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, in a press statement, “A delegation from the Association of Private Banks met with the head of the mission of Iraq to the International Monetary Fund, Christian Jos in the Jordanian capital Amman, and discussed during the meeting, the challenges facing the economy of Iraq during the current phase and ways The face of the economic crisis and the credit readiness agreement signed by Iraq with the International Monetary Fund in 2015. ”
Tariq added that “during the meeting, the vision of the Association of Iraqi private banks was made clear that the government should allow private banks to take their natural role to revitalize Iraq’s economy by allowing the government to deal with private banks in order to restore confidence to the banking sector,” adding that ” A comprehensive presentation on the development in the banking sector in terms of compliance and compliance with international requirements, especially with regard to operations against money laundering and financing of terrorism and the Association in cooperation with the Central Bank in the training of 70% of employees in the Iraqi banking sector.
On the other hand, the head of the mission of Iraq to the International Monetary Fund, Christian Jos, a summary of the economic situation in Iraq and talks with the Iraqi government under the Convention on credit readiness.
“The IMF looks forward to maximizing the non-oil resources of Iraq’s economy by developing industry, agriculture, improving services, customs control and reviewing its mechanism of action,” the statement said.
He added that “the organization of customs work will be an important resource for the Iraqi government in the next phase in the light of low oil prices,” adding that “the International Monetary Fund is expected to be the price of a barrel of oil during the next five years at a rate of $ 50 per barrel.”