CBI: The plan to restructure government banks will change the map of the banking sector

Baghdad - INA

Central Bank Governor, Ali Mohsen Al-Alaq, confirmed today, Thursday, during his meeting with French Ambassador Patrick Durel, that the plan to restructure government banks will change the map of the banking sector.

The media office of the Central Bank of Iraq said in a statement received by the Iraqi News Agency (INA): “Al-Alaq received the French ambassador and the meeting discussed ways to strengthen banking relations between the two countries.”

He added, "The governor provided a comprehensive explanation of the economic relations and conditions, as well as the government's directions in consolidating the foundations of the national economy and diversifying it in light of the state of security stability achieved in Iraq," explaining, "The plan to restructure the government banks, which enjoys regular support and follow-up by the Prime Minister." "It will change the map of the banking sector and its reality in Iraq." 

At the same time, according to the statement, the governor pointed to the rapid developments in organizing, monitoring and analyzing foreign transfer operations and covering foreign trade in accordance with best international practices and standards, which are receiving great praise and attention from international and regional organizations. 

The statement explained, "The ambassador expressed satisfaction with the developmental and economic developments he observed in Iraq, especially during his tour of the provinces, expressing his country's readiness to strengthen and develop banking relations with Iraq," explaining, "The economic relations between the two countries are growing at the level of entry of French companies and the use of their expertise in investment projects. 

The French ambassador invited the Governor of the Central Bank of Iraq, after making the necessary arrangements, to "visit the financial and banking institutions in France, especially the Central Bank of France."

The statement stated, "The Central Bank of Iraq owns deposits and accounts with the Central Bank of France, and they have distinguished cooperation relations over many years."