Al-Alaq: Arab consensus on the role of central bank programs in addressing challenges

Cairo-INA 
Central Bank Governor Ali Al-Alaq confirmed that the bank is focusing on an unconventional policy that requires direct engagement in the economic stimulus process through its initiatives that support the expansion of the production base and green projects, while pointing out that there is an Arab consensus on the role of central bank programs in addressing challenges.
 
Al-Alaq told the Iraqi News Agency (INA): On the sidelines of his participation in the opening of the activities of the Arab Sustainable Development Week Forum in its fifth edition held in the Egyptian capital, Cairo, "One of the main axes that this forum focuses on is the role of the banking sector in the sustainable development process, as well as the major challenges facing Arab economies in terms of the weakness of the production base, weak financial inclusion, and many obstacles that are constantly emerging. Today, we are also talking about climate change and its impact on the economy and the role of central banks and the banking sector in addressing challenges and risks."
 
He explained that "as a result, the Central Bank granted a license to establish the Green Bank, which will be one of the important links, as well as other projects that support financing small and medium enterprises, which expands the engagement base."
 
He pointed out that "the Central Bank supported a broad government program that took on a national dimension and was represented by the digital transformation process, which is one of the government's priorities, and we are working together with direct support from the Prime Minister to provide the requirements for this transformation, which constitutes a fundamental pillar of the digital economy in general."